TORONTO, June 12, 2007 (PRIME NEWSWIRE) -- Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) today announced that it has received Ministry of Commerce (``MOC'') approval to increase its equity interest in Sanhe Sino-Top Resources and Technologies, Ltd. (``Sino-Top''). Sino-Top is a Chinese company which holds the exploration and mining rights to nine properties including the Erbahuo Silver Mine located in the prolific Erbahuo Silver District in Northern China.``Approval from the Ministry of Commerce regarding our equity increase in Sino-Top is a tremendous milestone for our company,'' commented Mr. Marc Hazout, President and Chief Executive Officer of Silver Dragon Resources Inc. ``Our Chinese partners have shown and continue to show great confidence in Silver Dragon, particularly by taking equity in our company as consideration for our increased interest in Sino-Top. With Silver Dragon's ownership of Sino-Top now at 90%, our company and our shareholders have significant upside potential. Our immediate objectives with the property are: (i) to monetize our assets via production at the Erbahuo Silver Mine; (ii) to convert existing ore calculations from Chinese standards to National Instrument 43-101 compliant standards, some conversion of which has been completed; and (iii) to continue exploring the more than 260 square kilometers of property we have in the Erbahuo Silver District.''
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