NEW YORK and JAKARTA, Indonesia – December 2, 2014 – Vanguard
Mining Corporation (OTC Markets: VNMCD, VNMC) today
announced that the Company has signed a Memorandum of Understanding to acquire a
51% equity ownership in a Vietnam-based company that owns an 85.15-hectare silica sand concession and
operates a 5-hectare factory in Central Vietnam since 2006. The final purchase price will be determined
by both parties, subject to satisfactory due diligence review.
Vanguard will
begin the due diligence review of the concession and factory on December 5,
2014 before entering a definitive agreement for the closing of this transaction,
if feasible. Besides this silica
company, VNMC also currently investigates other producing mines for potential
acquisition. Consummating the purchase of an established, revenue-generating
target like this one would make VNMC a producing mining company and better
position it for further expansion.
On other
notes, after terminating the agreement to
acquire the gypsum/limestone concession in Nusa Tenggara Timur, Indonesia, the
Company strongly cautions potential investors against relying on its previously
announced financial guidance for any investment decisions in VNMC. The Company will provide
further updates on acquisitions, financing, audits, reporting with the SEC,
development plans and financial prospects in the near future.
Jalani Haniffa, President of VNMC, stated: “We look
forward to completing the due diligence review and hope to enter a definitive
agreement for the closing of this transaction, if results are favorable. In the
meantime, we will continue to develop the existing projects and seek new
producing opportunities that may add significant value to our portfolio.”
About VNMC
Founded in 1987, Vanguard Mining Corporation, a Nevada
corporation, is building and developing a portfolio of mineral assets in
Southeast Asia, including gold, copper, limestone, gypsum, granite and sand. We
have also investigated
mineral asset opportunities in other geographical areas. http://www.vnmcglobal.com
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:
Jalani Haniffa,
President
+62-812-674-11111