| ||Fri Apr 27, 2007|
Asia Now files audited 2006 financial results
| ||Asia Now Resources Corp. (TSXV: NOW) reports that the Company's 2006 audited financial results and management's discussion and analysis of those results have been approved by its board of directors and have been filed with SEDAR and posted on the Company's web site, www.asianow.ca.|
In 2006 the Company was active on three mineral exploration projects, all in Yunnan Province, China: Habo, Beiya and Dongchuan. The Company is currently conducting a drilling campaign with three drill rigs at Habo, where it has outlined a large copper-gold-molybdenum porphyry mineralized system, and a drilling campaign at Beiya, where it is testing three separate gold targets with an additional three drill rigs.
The Company did not believe exploration results at Dongchuan warranted further work, and therefore has elected not to proceed with the Dongchuan Project. Included in the 2006 financial results is a $1,054,723 write-down of its investment in the Dongchuan Project. As a result, the Dongchuan properties will be returned by the joint venture companies that held the properties to their respective vendors and, in accordance with Canadian GAAP, the Company has written down its investment in the Dongchuan Project.
ABOUT ASIA NOW RESOURCES
Asia Now Resources Corp. is a Canadian mineral exploration company focused solely on projects in the People's Republic of China. To learn more about Asia Now Resources, please visit our web site at www.asianow.ca.
The TSX Venture Exchange has not reviewed and does not accept responsibility for this news release.
Asia Now Resources Corp.
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