SOURCE: Vanguard Mining Corporation

Vanguard Mining Corporation

December 02, 2014 09:20 ET

Vanguard Mining to Acquire 51% of Vietnam-Based Producing Silica Company

NEW YORK, NY and JAKARTA, INDONESIA--(Marketwired - Dec 2, 2014) - Vanguard Mining Corporation (OTC PINK: VNMCD) (OTC PINK: VNMC) today announced that the Company has signed a Memorandum of Understanding to acquire a 51% equity ownership in a Vietnam-based company that owns an 85.15-hectare silica sand concession and operates a 5-hectare factory in Central Vietnam since 2006. The final purchase price will be determined by both parties, subject to satisfactory due diligence review.

Vanguard will begin the due diligence review of the concession and factory on December 5, 2014 before entering a definitive agreement for the closing of this transaction, if feasible. Besides this silica company, VNMC also currently investigates other producing mines for potential acquisition. Consummating the purchase of an established, revenue-generating target like this one would make VNMC a producing mining company and better position it for further expansion.

On other notes, after terminating the agreement to acquire the gypsum/limestone concession in Nusa Tenggara Timur, Indonesia, the Company strongly cautions potential investors against relying on its previously announced financial guidance for any investment decisions in VNMC. The Company will provide further updates on acquisitions, financing, audits, reporting with the SEC, development plans and financial prospects in the near future.

Jalani Haniffa, President of VNMC, stated: "We look forward to completing the due diligence review and hope to enter a definitive agreement for the closing of this transaction, if results are favorable. In the meantime, we will continue to develop the existing projects and seek new producing opportunities that may add significant value to our portfolio."

About VNMC
Founded in 1987, Vanguard Mining Corporation, a Nevada corporation, is building and developing a portfolio of mineral assets in Southeast Asia, including gold, copper, limestone, gypsum, granite and sand. We have also investigated mineral asset opportunities in other geographical areas. http://www.vnmcglobal.com

Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Contact Information

  • Contact:

    Jalani Haniffa
    President
    +62-812-674-11111
    Email Contact