Vango Mining Limited Stock Market Press Releases and Company Profile
Ord River Resources Limited (ASX:ORD) Announce SARCO Successfully Acquires 35% Interest In The Second Lao Tenement Yuqida
Ord River Resources Limited (ASX:ORD) Announce SARCO Successfully Acquires 35% Interest In The Second Lao Tenement Yuqida

Sydney, Jan 18, 2010 AEST (ABN Newswire) - Ord River Resources Limited (googlechartASX:ORD) (googlechartPINK:ORDRF) is pleased to announce that ORD and its Joint Venture Partner China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd ("NFC") have successfully completed the acquisition of a 35% interest in the holding company Hong Kong Yuqida S.A. Limited ("Yuqida HK")(1). Yuqida HK is the 100% owner of Yuqida Mining (Group) Co. Ltd ("Yuqida Laos") which owns 100% of the Lao bauxite tenement called Yuqida. ORD and NFC were not required to pay for the 35%. The 35% was earned by ORD and NFC who completed extensive exploration and survey work in Yuqida.

The 35% interest is held in Sino Australia Australian Resources (Laos) Company, Hong Kong Limited ("SARCO HK"). SARCO HK is 49% owned by ORD and 51% owned by NFC.

ORD Managing Director Peter Shou said, "the successful acquisition of this strategic 35% interest in Yuqida marks the beginning of a consolidation of the two tenements in Laos. ORD and NFC have completed extensive work on Yuqida and it will be an important asset to support the planned alumina refinery. We thank the owners of Yuqida for their support and we will continue to work with them to add value to our respective interests in the asset. Everyone is keen to see the project move forward to mining and production."

(1) Agreement for this transfer was announced by ORD on 18 December 2009.

About Vango Mining Limited

Vango MiningVango Mining Limited (ASX:VAN) is a minerals exploration mining company with ambitions of becoming a high-grade WA gold miner by developing the 100% owned Marymia Gold Project (Marymia) in the mid-west region of Western Australia. The Project comprises 45 granted mining leases over 300km. It has an established high-grade resource of 1Moz @ 3g/t Au, underpinned by the Trident Deposit, whose resource is 410koz @ 8g/t Au, with immediate extensions open at depth/along strike.

The Marymia Project has the potential to become one of Australia's largest high-grade producers. The Greenstone Belt in the Marymia region includes six major gold corridors, which remain largely un-tested beyond 100m depth - supported with an extensive drilling and geophysical database. Previous mining between 1992-2001, produced 580,000 ounces of gold almost entirely from open-pits.

Vango is focused on growing its high-grade gold resource to support a proposed stand-alone gold mining and production operation at Marymia. The Project is located along strike, immediately to the north of Superior Gold's (CVE:SGI) Plutonic Gold Mine which has produced more than 5.5Moz of gold.

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Contact

Frank Zhu, CFA
Head of Corporate Development
Ord River Resources Limited
TEL: +61-2-9250-1848



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