SOURCE: China Digital

April 05, 2012 09:01 ET

China Digital Venture Corporation ("China Digital" or the "Company") Strategic Acquisition of U.S.-Based Exploration and Mining Company

LAKEWOOD, CO--(Marketwire - Apr 5, 2012) - China Digital Venture Corporation (OTCBB: CDVV) is pleased to announce the acquisition of all of the mineral rights properties of ARNEVUT Resources Inc. ("ARNEVUT"), an exploration and mining company headquartered in Lakewood, Colorado. ARNEVUT is a development stage junior exploration and mining company engaged in the identification, acquisition, evaluation, exploration and development of mineral properties in the United States. ARNEVUT is focused on the exploration and development of the Island Mountain Property in the Jerritt Canyon Trends of Nevada as its primary property. The Company is also involved in the development of mineral claims comprising the East Canyon Property in Utah and Nevada and has an option to acquire a 100% interest in 79 mineral claims comprising the Zia property located in Cibola County, New Mexico.

Island Mountain Property (Gold): Arnevut has an option to acquire majority control of the Island Mountain property from Gateway Gold Corporation (Gateway), subject to certain payments and work commitments. The property consists of 53 unpatented lode mineral claims that comprise an area of 920 acres (372 hectares) situated near the northeast end of the Jerritt Canyon Trend, one of four trends in northern Nevada known for disseminated sediment-hosted mineralization of the "Carlin Type," and for more recently recognized high grade epithermal feeder systems. A strong gold anomaly in surface outcrops has been the focus of intensive exploration. It is above an isolated, albeit deeper magnetic high that likely represents the contact metamorphic aureole around an apophysis off the main intrusive body which could be a cupola situation, with strong exploration implications for bulk mineralization at attainable depths.

East Canyon Property (Gold and Copper): The East Canyon property is located in Elko County, Nevada and Box Elder County, Utah. Most of the claims are located in Box Elder County, Utah. The property originally consisted of ten lode claims, comprising about 200 acres. The claims were located by Manuel Montoya of Parker, Colorado. Subsequently added to the property was a lease on Utah State Section 16, which lies about 1 mile south of the southern end of the lode claims. A NI 43-101 compliant report under contract to ARNEVUT is in progress on the property. East Canyon is prospective for gold and copper within the current claims area. This property is available for option or purchase by financial and strategic investors.

Zia Property (Uranium): The Zia Uranium property is 9 miles northeast of Grants, New Mexico. The property contains uranium mineralization hosted by the Todilto Limestone and probable uranium mineralization hosted by sandstones of the Morrison Formation, all of the Jurassic age. These claims are wholly owned by ARNEVUT.

"This is a strategic acquisition for China Digital, as the concessions have excellent exploration potential," stated Robert Price, China Digital's Director & CEO. "We know from our research that new discoveries are still possible in this historic district and we are excited about the prospects for the projects of ARNEVUT."

Through the course of due diligence, China Digital has already completed considerable ground work on the claims. Upon signing of a definitive agreement, the Company will be immediately re-commencing geological mapping and rock sampling, while potential drill sites are being investigated to test the various structures.

ON BEHALF OF THE BOARD

Robert M. Price, Director
(202) 536-5191

About China Digital Venture Corporation

China Digital Venture Corporation (OTCBB: CDVV) is a publicly traded U.S. based junior exploration and mining company headquartered in Rockville, Maryland. The Company is currently pursuing opportunities for several acquisition targets focusing on operational plans for current projects across the trans-pacific regions. China Digital's commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources.

DISCLAIMER

Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on China Digital Venture Corporation predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, changes in metal prices, the ability to successfully fund any exploration activities, consumer and business consumption habits, the ability to fund operations and other factors over which China Digital Venture Corporation has little or no control. Such forward-looking statements are made only as of the date of this release, and China Digital Venture Corporation assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in China Digital Venture Corporation Form 10-K for its fiscal year ended December 31, and other documents filed from time to time by China Digital Venture Corporation with the Securities and Exchange Commission.

Contact Information

  • Robert M. Price
    Director
    (202) 536-5191