Silver Dragon Resources Inc SDRG

Financing News!

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Silver Dragon Resources Inc. Closes $1 Million Private Placement 2006-03-01 08:40 ET - News Release TORONTO -- (MARKET WIRE) -- 03/01/06 Silver Dragon Resources Inc. (OTC BB: SDRG) is pleased to announce that it has closed a private placement and raised a total of $1,000,000 for 1,000,000 Units. Each Unit was priced at $1.00 and consists of one common share of the Company and two one-half of one common share purchase warrants. One whole warrant will entitle the holder to purchase an additional common share of the Company at any time over a period of two years from the date of closing of the private placement at exercise prices of $2.00 and $5.00. "The Company plans to use the proceeds of the Offering towards the acquisition, production and development of the Cerro las Minitas mine in Durango, Mexico, to continue the exploration program presently under way at Tierra Blanca, Mexico, to expand Silver Dragon's asset base, as well as for general corporate purposes," stated Marc Hazout, President and CEO. Silver Dragon Resources Inc. is a mining and metal 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. For more information, please visit 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 with the Securities and Exchange Commission. Contact: Silver Dragon Resources Inc. Marc Hazout [phone] [e-mail]