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Silver Dragon Resources - News Release
April 1, 2010
Silver Dragon Board of Directors Recommends Shareholders Reject Exchange Offer Toronto, Ontario - (BUSINESS WIRE) - Thursday April 1, 2010 - Silver Dragon Resources Inc. (OTC BB: SDRG.OB - News) announced today that the Board of Directors unanimously recommends that Silver Dragon shareholders reject the exchange offer submitted by Guardians of Gold Inc. and Nirek Resources Inc. for up to 20% of the outstanding common shares of the Company (the "Offer") and not tender their shares to the Offer. In reaching its conclusions, the Board of Silver Dragon carefully reviewed and considered the Offer, with the benefit of advice from its financial and legal advisers. As a result of this evaluation, the Board recommends that shareholders reject the Offer based on an assessment of factors deemed relevant to the Offer, including but not limited to, assumptions regarding the consideration being offered. Consequently, the Board of Directors and Management of Silver Dragon do not believe the Offer reflects fair compensation in light of the Company's long-term value, and thus will not tender their shares to the Offer. Read Full Article
About Silver Dragon Resources Inc. Silver Dragon Resources Inc. (OTC:SDRG)is a mining company focused on the acquisition, exploration, development and operation of silver mines in proven silver districts in China and Mexico. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, and/or producing properties with significant untapped exploration potential. It is management's objective to grow Silver Dragon into a significant silver producer by developing Cerros las Minitas in Mexico and the seven Erbahuo properties in China. With operations in Mexico, the world's leading producer of silver, and in China, the world's largest consumer of silver, Silver Dragon is prepared to participate in China's increasing demand for silver. Thank you for your interest in Silver Dragon Resources Inc.
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Investor Relations Silver Dragon Resources Inc.
Silver Dragon is based in Canada.
Silver Dragon holds various exploration projects in China.
Its main asset in production is ERBAHUO in China and its main exploration properties are CERRO LAS MINITAS in Mexico and LAOPANDAO BEIHOU, DADI, LIANGDI, SAIHANAOBAO, AOBAOTUGOUNAO, YUANLINZI, SHIDIDONGGOU and ZHUANXINHU in China.