SOURCE: Earth Dragon Resources Inc.

Earth Dragon Resources Inc.

February 03, 2011 09:00 ET

Earth Dragon Resources Summarizes Recent Activity and Future Goals

TOKYO--(Marketwire - February 3, 2011) - Earth Dragon Resources, Inc. (OTCBB: EARH) ("Earth Dragon," or the "Company") wishes to provide a summary of recent activity.

As announced previously, Earth Dragon has recently entered into joint venture agreements with two notable mining companies located in Africa in order to further exploratory operations upon several properties known to be prospective for gold and to develop plans for commercial extraction at those locations.

Earth Dragon Resources and Chisu Gold Mine Limited ("Chisu Gold") have agreed to jointly conduct mining operations on gold concessions located in the Chunya District of Tanzania. The Company anticipates the development of a N.I. 43-101 report to be completed in April 2011 detailing the resource asset and putting forward recommendations for production efforts at the Chisu Gold Project.

The Company also entered into an agreement with Netas Mining Company Ltd. ("Netas Mining") in order to conduct similar activities upon two gold properties at Nkwanta and Asuogya, Ghana.

Activities at the two Ghana properties include:

  • Over 500 samples taken during a 2010 field study.
  • Four significant high grade veins identified at Nkwanta and Asuogya.
  • Production by local artisanal miners has been ongoing for over 50 years.
  • 10,000 ounce production to begin immediately upon completion of scoping study.
  • 35 individuals currently employed excavating and sampling gold targets on the Nkwanta Concession focusing on the previously identified hard rock vein deposits.

Company President & CEO Thomas Herdman commented, "Earth Dragon has received positive lab results from the 2010 Field Study and is optimistic the relationships with Netas Mining and Chisu Gold will prove both constructive and profitable. Management is buoyed by recent events and believes the Company is moving in a manner appropriate and consistent with the interests of the Company's shareholders."

Additional details regarding the Company 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.

ABOUT EARTH DRAGON RESOURCES, INC. (OTCBB: EARH)
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: www.earthdragonresources.com.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. 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.

ON BEHALF OF THE BOARD

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

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