Nirek Resources Inc.
FRANKFURT : 3N6

Guardians of Gold Inc.
FRANKFURT : QGD

March 07, 2011 02:00 ET

Nirek Resources Inc. and Guardians of Gold Inc. Files Form F-4 Related to an Exchange Offer for a Minimum of 20% of Silver Dragon Resources Inc.

ONTARIO, CANADA--(Marketwire - March 7, 2011) - Nirek Resources Inc. ("NRI") (FRANKFURT:3N6) and Guardians of Gold Inc. ("GOG") (FRANKFURT:QGD) have filed a registration statement on Form F-4. Upon the effectiveness of such Form F-4, NRI and GOG shall commence, upon certain conditions, an exchange offer for not less than 20% of the issued and outstanding common shares of Silver Dragon Resources Inc. ("SDRG") (OTCBB:SDRG). The exchange offer shall provide that, for each 100 shares of SDRG common stock tendered, the shareholder will receive (i) one (1) share of NRI common stock (FRANKFURT:3N6), (ii) one (1) share of GOG common stock (FRANKFURT:QGD), (iii) one (1) NRI Silver Certificate and (iv) one (1) NRI Gold Warrant. Each Silver Certificate issued by NRI will be for ten (10) grams of silver, deliverable March 31, 2014 and each NRI Gold warrant issued by NRI, exercisable on or before April 08, 2011 at an exercise cost of $190.00 USD, will be for ten (10) grams of gold, deliverable March 31, 2014.

According to the filing, NRI and GOG propose to supplement SDRG's business by means of increasing SDRG's opportunities in the resource industry, with a view of enhancing their investment in SDRG.

The registration statement can be found on the SEC website.

About Nirek Resources Inc.

NRI is a Canadian exploration company specializing on exploring for precious and base metals. NRI is focused on acquiring and developing gold and precious metal properties with proven reserves through a series of joint ventures, mine and property acquisitions. For more information, please visit NRI's website at: www.nirekresources.com.

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.:

SDRG is a mining and metals company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. SDRG'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. For more information, please visit SDRG's website at: www.silverdragonresources.com.

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.

Frankfurt Exchange: 3N6.F

Outstanding Shares: 17,636,299

Contact Information