Golden Century Signs Letter of Intent With JinXin Copper

Golden Century Signs Letter of Intent With JinXin Copper 
WILMINGTON, DELAWARE -- (MARKET WIRE) -- 08/12/09 --  Golden Century
Technologies Corporation ("Golden Century" or the "Company") (OTCBB:
GCYT) has announced that it has entered into a Letter of Intent with
JinXin Copper Holding Limited ("JinXin"), a British Virgin Island
corporation that owns 62% of Nanjiang Long Du Mining Industrial
Limited Corporation ("Long Du"). Long Du is a corporation
incorporated in the Shangliang Town, Nanjiang County, Sichuan
Province, P. R. China and it owns prospecting permit no.
5100000730032 of Yang Tan Gold Mine ("Yang Tan") for the prospecting
rights for an area approximately 9.77Km2 in area from January 19,
2009 to January 19, 2011. 
Pursuant to the Letter of Intent, the Company will acquire all the
rights to Yang Tan owned by JinXin. Within the first week following
the execution of the Letter of Intent, the Company is required to pay
the sum of US$500,000 to JinXin for expenses relating to the
application for the government exploitation permit for Yang Tan. Upon
closing, the Company will issue from treasury and deliver to JinXin
an amount of common shares of the Company's capital stock, the amount
of which has yet to be determined, and pay any additional
consideration that is agreed to be paid as part of the consideration
in the Definitive Agreement as described in the Letter of Intent. 
Any agreement between the parties will be subject to completion of a
definitive agreement between the parties with customary
representations and warranties and satisfactory completion of both
parties' due diligence review. There is no assurance that the parties
will reach a definitive agreement regarding the proposed transaction
as planned or at all. 
Information about Golden Century 
Golden Century is a Delaware Corporation engaged in the production,
distribution and sale of medical supplies in Mainland China, Hong
Kong, Macau, Taiwan and Middle East. The Company's principal business
is to supply the Flushable Colostomy and Ostomy Pouch Liners to
Colo-Majic Liners, Inc. for its existing North American market and to
manufacture, market and distribute the Liners in the People's
Republic of China, Hong Kong, Macau, Taiwan and the Middle East. 
Forward-looking Statements 
This news release contains forward-looking statements.
Forward-looking statements deal with our current plans, intentions,
beliefs and expectations and are statements of future economic
performance. Statements containing terms like "believes", "does not
believe", "plans", "expects", "intends", "estimates", "anticipates",
and other phrases of similar meaning are considered to imply
uncertainty and are forward-looking statements. Forward-looking
statements in this document include that the Company will acquire all
t
he rights to Yang Tan owned by JinXin; and that upon closing, the
Company will issue from treasury and deliver to JinXin an amount of
common shares of the Company's capital stock, the amount of which has
yet to be determined, and pay any additional consideration that is
agreed to be paid as part of the consideration in the Definitive
Agreement. 
Forward-looking statements involve known and unknown risks and
uncertainties that may cause actual results in future periods to
differ materially from what is currently anticipated. The Company
cannot guarantee our future results, levels of activity, performance
or achievements. Neither the Company nor any other person assumes
responsibility for the accuracy and completeness of these
forward-looking statements. The Company is under no duty to update
any of the forward-looking statements after the date of this news
release. 
Contacts:
Golden Century Technologies Corporation
David Cheng Lee
(302) 295-4801
 
 
Press spacebar to pause and continue. Press esc to stop.