Asia Now Resources Corp.
TSX VENTURE : NOW

Asia Now Resources Corp.

May 17, 2011 09:00 ET

Asia Now Reports Visit of the Chinese Vice Minister of Ministry of Land and Resources to the Beiya Gold Project

TORONTO, ONTARIO--(Marketwire - May 17, 2011) - Asia Now Resources Corp. (TSX VENTURE:NOW) was invited to attend the Chinese Governmental Conference on Regional Consolidated Exploration that was organized by the Ministry of Land and Resources of PR China during May 12-14, 2011. The meeting fully recognized the high prospectivity of our Beiya property adjacent to the highly profitable Beiya Gold Mine (annual production 200,000 oz gold).

The Company's Beiya project is regarded as a model example for successful joint ventures in mineral exploration in China, and on May 14 was visited by a Vice Minister of the Ministry and a delegation of 110 governmental officers and geologists from 31 provinces of China, with the accompany of the senior officers of Yunnan Provincial and local governments.

Dr. Kaihui Yang, President and CEO of the Company, said, "We are gratified that we are receiving more and more attention and support from the Central and Provincial Governments. The positive scrutiny and cooperation we are receiving from various levels of government is encouraging us in our aggressive efforts to further outline and develop the mining potential at Beiya."

At the Conference, the Minister, a Vice Minister and the Chief Engineer of the Ministry delivered important speeches on "Exploration Breakthroughs and Strategic Action," a national plan to speed up exploration and mining development in China. Two Vice Governors of Yunnan Province expressed their strong support for the investments including foreign investments in mineral exploration and mine developments in Yunnan.

Asia Now has started metallurgical testwork on samples from Beiya North and continued aggressive drilling for resource definition of the multi-layered gold/silver and base metal mineralized zones, including some with high-grade intercepts containing up to 23.5 g/t gold, 928 g/t silver, 4.15% copper and 25.5% combined lead and zinc and extending for at least 1,360 meters in the Yujiapo block (see News Releases dated February 7, 2011, April 21 and May 11, 2010). The drilled area is a part of a 13 kilometer long by 2 kilometer wide gold belt, two-thirds of which belongs to the Company's joint ventures.

Beiya North where the Company is currently drilling is part of Asia Now's joint venture with Yunnan Non-Ferrous Geology and Mineral Resources Company Limited. Asia Now's equity in the Beiya North property is 72%, with the option of increasing our interest to 90%. Beiya North is part of the Beiya project that involves two joint venture companies. 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.

QUALITY CONTROL AND QUALIFIED PERSON

Quality control and assurance programs are followed in line with the standards of National Instrument 43-101. Exploration and financial controls are implemented in each of the Company's exploration projects in China, as published on the website of the Company, www.asianow.ca. Exploration on all of the Company's projects is conducted under the guidance of Dr. Noel C. White, a consultant to the Company and a Qualified Person as defined under National Instrument 43-101. Dr. White has read and approved this news release. Disclosure on mineralization on adjacent properties has not been verified by Dr. White and is not necessarily indicative of the Company's anticipated results. Where provided, potential quantity and grade is conceptual in nature as the Company has not conducted sufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

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

    Asia Now Resources Corp.
    Andreas Curkovic
    Investor Relations
    info@asianow.ca
    www.asianow.ca