Dear Eric,
Silver Dragon Reports Lawsuit in China Withdrawn
BEIJING, April 18, 2012 (PRIME NEWSWIRE) - Silver Dragon Resources Inc. (OTCBB: SDRG) (the "Company") is pleased to announce that a lawsuit filed against Silver Dragon Resources Inc., Marc Hazout, HAO Guoqiang, ZHOU Lin, Beijing and Shengda Zhenxing Industrial Ltd. (collectively, the "Defendants")in the No.2 Intermediate People's Court of Beijing City (the "Beijing Court") has been formally withdrawn by the plaintiffs YANG Jingxian and CHEN Jinghan (collectively, the "Plaintiffs") and formally approved by the Beijing Court.
The official approval was handed out by the Beijing Court on April 12, 2012. The first hearing of this case took place on March 16, 2012. During this hearing, it was demonstrated that:
A subsequent hearing was scheduled for April 18, 2012.
Events leading to the withdrawal of the case are as follows:
A tribunal of judges appointed by the Beijing Court presided over the proceeding.
The hearing scheduled to be held on April 18, 2012 has been cancelled.
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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 acquiring properties in Mexico and developing the Company's 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.
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.