Silver Dragon Completes Erbahuo Mining License Transfer to Chifeng Silver Dragon

Silver Dragon Resources Inc. (OTCBB: SDRG) has received a new mining license for its 70%-owned Erbahuo silver mine, issued by the Department of Land & Resources, Inner Mongolia. The license has been transferred from the previous holder, Huaguan Industrial Corp., a Chinese state-owned entity and Silver Dragon’s joint venture partner, to Chifeng Silver Dragon Resources & Technologies, Ltd., a Sino-American joint venture. The mining license transfer process, which consummated in a change of the property title, constituted part of the permitting process for mine development and mill construction.

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