Guardians of Gold Inc.
FRANKFURT : QGD

Guardians of Gold Inc.

May 31, 2011 02:00 ET

Guardians of Gold Inc. Announces the Acquisition of 1.25 Million Warrants to Purchase Common Shares of Silver Dragon Resources Inc.

ONTARIO, CANADA--(Marketwire - May 31, 2011) - Guardians of Gold Inc. ("GOG") (FRANKFURT:QGD) is pleased to announce that it has acquired one million two hundred and fifty thousand (1,250,000) warrants of Silver Dragon Resources Inc. ("SDRG")(OTCBB:SDRG) as of May 27, 2011. Each warrant entitles GOG to purchase one common share of SDRG at a price of $0.50 USD per share at anytime on or before May 27, 2013.

The parties have had ongoing discussions on GOG participating in the development of SDRG's Sino-Top silver properties in China and also the Erbahuo Silver Mine in China which SDRG operates through its wholly owned subsidiary, Chifeng Silver Dragon.

About Guardians of Gold Inc.

GOG is a Canadian based mining company that is focused on exploring for precious and base metals. GOG is focused on acquiring precious metal properties with proven reserves through strategic joint ventures and property acquisitions. For more information, please visit GOG's website at: www.guardiansofgold.com.

About Silver Dragon Resources Inc.

Silver Dragon Resources Inc. is a mining and metals company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, have highly leveraged, out-of-the-money silver deposits, and/or are producing properties with significant untapped exploration potential. It is management's objective to grow Silver Dragon into a significant silver producer by developing the Cerros las Minitas project in Mexico, its six Sino-Top properties in China (particularly Dadi and Laopandao), and its Erbahuo Silver mine (via its Chifeng Silver Dragon subsidiary), also in China. For more information, please visit the Company's website at: www.silverdragonresources.com (now available in Chinese).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings.

Outstanding Shares: 40,136,000

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