Asia Now Resources Corp.
TSX VENTURE : NOW

Asia Now Resources Corp.

March 03, 2011 09:00 ET

Asia Now Adds 7 Drill Rigs for a Total of 18 Drilling the High-Grade Gold/Silver and Base Metal Zone at Beiya North

TORONTO, ONTARIO--(Marketwire - March 3, 2011) - Asia Now Resources Corp. (TSX VENTURE:NOW) announced that the Company now has 18 rigs drilling for resource definition of the Beiya North high-grade gold/silver and base metal zone at the Beiya project, regarded as one of the top 10 high-potential prospects in China by the China Geologic Survey. The Company is starting its next phase of drilling following the end of the Chinese New Year. Drilling will focus on following up recent successful drilling results that confirmed the continuity of the main mineralized zone over 1,200 meters long by 350 to 620 meter wide, and it remains open at Beiya North (see News Release dated February 7, 2011).

The drilled area is a part of the 13 kilometer long by 2 kilometer wide gold belt, two-thirds of which belongs to the Company's joint venture. To date, the Company has focused on the Yujiapo block of Beiya North where 47 holes were drilled on a grid of 160 meters by 80-160 meters, and 39 of them interested multi-layered gold/silver and base metal mineralized zones, including some high-grade intercepts containing up to 23.5 g/t gold, 928 g/t silver, 1.86% copper and 25.5% combined lead and zinc (see News Releases dated February 7, 2011 and August 9, 2010). Assay results of 12 recently completed holes are pending.

Dr. Kaihui Yang, President and CEO of the Company, said, "Our next phase of the drilling program at Beiya North will be our largest ever. We are aggressively working to establish a maiden NI 43-101 compliant resource estimate at Beiya North."

The Beiya project is adjacent to the open-pit Beiya Gold Mine, the largest gold mine in Yunnan Province, producing 200,000 ounces of gold annually. Asia Now has earned 72% with the option of increasing to 90% its interest in the Beiya North property where the Company is currently drilling. Beiya North is part of the Beiya project that involves two joint venture companies. Beiya North is part of the joint venture with Yunnan Non-Ferrous Geology and Mineral Resources Company Limited. The Company is earning a 70-88% interest in another joint venture with Yunnan Geology and Mineral Resources Company Limited. The Beiya project is 60 km by highway north of the city of Dali, which is a 35 minute flight from Kunming, the capital city of Yunnan. There are several daily flights, a railway and a paved highway between the two cities. The Beiya property is one of two key projects the Company is exploring in China.

About Asia Now:

Asia Now Resources Corp. is a mineral exploration company, exploring potential world-class ore deposits in China with the aim of developing them. The Corporation has established offices, joint ventures and a significant network with the Chinese mining industry and governments. Under the leadership of an experienced international board and management team, the Corporation has been operating smoothly in China since 2002. The Corporation is currently resource drilling at its key Beiya project which is located in Yunnan Province. The project has large mineralization belts with potential for significant discoveries. For more information, please visit www.asianow.ca.

This Press Release contains certain forward-looking statements. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Corporation's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements, unless otherwise required under applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Asia Now Resources Corp.
    Kaihui Yang
    President
    +1 (416) 364-7281
    or
    Asia Now Resources Corp.
    Andreas Curkovic
    Investor Relations
    +1 (416) 577-9927
    info@asianow.ca
    www.asianow.ca