VANCOUVER, BRITISH COLUMBIA, Jul 14 (MARKET WIRE) —
Sidon International Resources Corp. (TSX VENTURE: SD)(FRANKFURT:
SY7)(PINK SHEETS: SIDNF) has received final approval from the TSX Venture
Exchange in regards to its high-grade gold prospect, the “Morogoro East
Gold (MEG)” property in the Morogoro area of Tanzania.
Company president Kamal Alawas states: “This is great news for the future
growth of Sidon. Rarely does a company of our small market capitalization
be afforded an opportunity to be able to acquire a property of such
potential in what can only be described as one of the world’s last
potential world-class undeveloped gold districts. In the 1990s Tanzania
only had approximately one million ounces of known gold reserves, now it
has over 50 million ounces of reserves, placing it in third place in the
African gold-producing countries behind only South Africa and Ghana.
Considering it has at least five world-class gold deposits, Tanzania has
yet to be subjected to serious and prolonged exploration by modern
methods. Few junior resource companies have had the ability to become
involved in this expanding gold district and management is excited about
what the future development of this prospect will provide for the growth
of Sidon. Seeing how the market embraced Canaco Resources Inc. after
their recent discoveries in Tanzania, it is clear that there is growing
market awareness for this emerging gold district in Africa. Couple this
with the anticipated work program to start immediately, it is clear that
Sidon is entering a significant period of corporate growth right now.”
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ON BEHALF OF THE BOARD
Kamal Alawas, President
We seek safe harbour.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider
(as that term is defined in the policies of the TSX Venture Exchange
Inc.) accepts responsibility for the adequacy or accuracy of this press
Sidon International Resources Corporation
(425) 258-3366 (FAX)
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