NEW YORK and Jakarta, Indonesia ? June 5, 2014 ? Vanguard Mining Corporation (OTCMarkets: VNMC ), http://www.vnmcglobal.com , today announced that the Company signed a business cooperation agreement with PT Raksasa Metal Agung, an Indonesian company, to start a joint operation of placer gold mining in sub-district Karang Tengah, Wonogiri, Central Java, Indonesia.
The Company further reported that, according to the business cooperation agreement, it will be working with PT Raksasa Metal Agung to begin operation and production of gold and copper close to an ex-Dutch mining area that has high copper and gold contents, with some areas up to 27ppm. VNMC will share 60% of the net profits from operations expected to occur in the next three to four months. The initial pilot project will be on five-hectare area with a total allotment available of more than 1,500 hectares. PT Raksasa and VNMC plan to conduct the survey work and obtain licensing for the first phase of operation in the next few weeks.
?We are very excited about this business cooperation agreement and expect to update our shareholders with further progress around late June or early July,? said Quang Le, Senior Geologist and Vice Chairman of VNMC.
Agung Yudyasmara, President of PT Raksasa Metal Agung, concurred, ? We are delighted to work with Vanguard Mining Corp on this initial project and strongly believe that this is the beginning of a long-term association that will continue to greatly benefit shareholders of both companies.?
About Vanguard Mining Corporation
Vanguard Mining Corporation, a Nevada corporation established in 1987, is currently building a portfolio of mineral assets in Southeast Asia, including limestone in Vietnam and gold, copper, limestone, and manganese in Indonesia. The company has also investigated other mineral assets in other geographical areas that may potentially create significant value for our shareholders and investors in the near future.
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:
Tony Nguyen
Vanguard Mining Corporation Corp.
702-605-4506
