(via Thenewswire.ca)
Brossard, Quebec / TheNewswire / June 30th, 2015 Nippon Dragon Resources Inc. (the "Corporation" or "Nippon") (TSX-V Symbol: NIP), is pleased to announce that its exclusive thermal fragmentation distributor for Japan, NDR Japan has signed an ore mining contract that will be exclusively carried out by Nippon's thermal fragmentation mining method.
The extraction of the gold bearing ore will be conducted within a former gold mine site that has been closed since WWII. Considering that the mine is located within a mountain that is home to a majestic forest and several religious temples, the mine owner has been looking for some time for a mining method that required the usage of little or no explosives. The employment of the thermal fragmentation mining method will preserve these sites and leave a minimal environmental footprint. The company believes that this is probably the reason why the operating permit was obtained so quickly.
All costs related to the mining contract will be covered by our distributor NDR Japan while 15% of revenues derived from the sale of the precious metals will be paid to Nippon. The rehabilitation of old workings has already started and the construction of new drifts will begin shortly. Even though it remains a small-scale project for now, Nippon considers that obtaining this extraction contract is definitely a significant milestone and hopes to receive revenues before the end of this year. Furthermore, during our last site visit in mid-June, several mine owners met with us to learn more about the thermal fragmentation mining method and also had the opportunity to see the thermal unit at work within a surface deposit.
About Nippon
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds a gold property with resources recognised in accordance with NI43-101, a modular treatment plant and also an exclusive license for the Thermal Fragmentation mining method.
The company's growth strategy is based on:
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-The development of its gold deposits with the objective of producing revenue from its operations;
-Increasing the value of its mining assets by prioritizing the exploration targets; and
-The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations (514) 718-7976jstella@nippondragon.com
Andre Savard, President & CEO(450) 510-4442 asavard@nippondragon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7