SOURCE: Earth Dragon Resources, Inc.

Earth Dragon Resources, Inc.

February 14, 2011 15:08 ET

Earth Dragon Resources Readies for Multi Year Effort at Gold Projects in Africa

TOKYO--(Marketwire - February 14, 2011) - Earth Dragon Resources, Inc. (OTCBB: EARH) ("Earth Dragon," or the "Company") is pleased to provide a summary of resource expectations as currently interpreted by internal Company reports regarding its gold prospects in Ghana and Tanzania.

Based on information provided by the joint venture partners in both Ghana and Tanzania, the information comprises previous records by other mining efforts both locally and regionally, engineering reports, historical documentation, results from artisanal mining efforts and recent Company surveys and analysis including underground sampling in tandem with extensive geochemical and geophysical surveys.

The Chisu Gold Project in Tanzania is currently estimated to be capable of producing between 6,000-9,000 ounces of gold per annum, with the potential to generate sales of $7.2-10.8m annually. Projections are based on $1,200 per ounce predicted for the next 2 years.

Preliminary estimates at the Nkwanta Concession in Ghana incorporate the recently announced assay results from the Golden Arrow, D10, Chief and lesser veins identified in the highly mineralized formations apparent at Nkwanta. Current internal estimates by the Company and its partners estimate reserves at 500,000 tons at approximately 15.0gm/t with stripping ratios estimated at 3:1 maximum and with combined mining, milling and transport costs estimated at approximately $300 per ounce. At current gold prices and a cut-off grade of 7g/t, the Company projects that ore could be mined economically for over 15-17 years. The planned drilling program is expected to add more reserves into the mineable category, and hence increase the life of the mine to over 20 years.

Based on existing plans with the venture partners designed to commence pilot production within 6 months in Ghana followed by production start-up in Tanzania later in the year, it is estimated that as soon as production achieves planned capacity that first year revenues could achieve approximately US$ 7 million ramping up to earnings of over US$ 34 million by 2015.

Company President & CEO, Thomas Herdman, comments, "Our recent assay results from Ghana have given us better than favorable information. Early data from Tanzania is also looking very positive. Our combined position in Africa has provided us real impetus towards continued exploration efforts and for the near term development of production facilities which will provide cash flow and sustainability."

Additional details regarding the Company, its business and its agreements are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

Earth Dragon Resources is a mineral exploration company with a strategic focus on the purchase and development of high quality production-stage gold projects in Africa. The Company is currently developing highly prospective gold deposits in the Ashanti Gold Belt of Ghana and the Lupa Goldfield in the Chunya Mining District of Tanzania with plans to expand ongoing exploration and mapping efforts to include pilot plant production. For more information visit:

Notice Regarding Forward-Looking Statements
Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.


Earth Dragon Resources, Inc.
Thomas W. Herdman, President & CEO

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