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[QUOTE]Originally posted by 10of13: [QB] News and GAPPING! February 26, 2007 - 8:52 AM EST Wits Basin Adds Management for China Mining Properties Wits Basin Precious Minerals Inc. (OTCBB:WITM) is pleased to announce the appointment of William B. Green to the position of President for a wholly-owned subsidiary to be established for the acquisition of mining properties in China. As previously announced, the Company is currently completing due diligence on several different properties in the PRC. Mr. Green’s role will be to assist the Company in connection with PRC property acquisitions, and to interface with the vendors and managers of those properties at an operations level. Wits Basin CEO Stephen D. King released this statement: “Our company is fortunate to have Mr. Green join our team. His hands-on experience of more than 15 years living and working in China and Asia is a great asset. His ability to speak fluent Mandarin will be extremely beneficial to our process of working to acquire the previously announced potential acquisitions.” About Mr. William B. Green: Mr. Green is a graduate of the University of Pennsylvania’s Wharton School of Business. He has lived and worked in Asia and led efforts to establish joint venture partnerships on behalf of American Standard Companies Inc. and Kohler Industries. About Wits Basin Precious Minerals Inc. We are a minerals exploration and development company holding interests in five exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol “WITM.” To find out more about Wits Basin Precious Minerals Inc. (OTCBB:WITM) visit our website at [URL=http://www.witsbasin.com.]www.witsbasin.com.[/URL] Forward-Looking Statements and Risk Factors The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. These risks and uncertainties include, among others, the Company’s ability to obtain or maintain regulatory approvals; the Company’s ability to obtain necessary financing; the Company’s ability to enter into and meet all the conditions to consummate the proposed merger agreement, and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements. In addition, the exploration for and development of mineral deposits involves significant financial risks, which even experience and knowledge may not eliminate, regardless of the amount of careful evaluation applied to a process. While the discovery of a mineral deposit may result in substantial rewards, few properties are ultimately developed into producing mines. Moreover, we cannot make any estimates regarding probable reserves in connection with any of our projects and any estimates relating to possible reserves are subject to significant risks. Therefore, no assurance can be given that any size of reserves or grades of reserves will be realized. If a discovery is made, the mineral deposit discovered, assuming recoverable, may differ from the reserves already discovered and recovered by others in the same region of the planned areas of exploration. Further, the cost of exploration and exploitation can be extensive and there is no assurance that we will have the resources necessary or the financing available to pursue projects we currently hold interests in or to acquire interests in other mineral exploration projects that may become available. The risks we face are numerous and detailed information regarding these risks may be found in filings made by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-KSB, quarterly reports on Form 10-QSB and reports on Form 8-K. Wits Basin Precious Minerals Inc. Vance White, Chairman, 416-587-7323 Stephen King, CEO, 612-490-3419 or Lighthouse Communications, 866-739-0390 info*lhcom.bz Source: Business Wire (February 26, 2007 - 8:52 AM EST) News by QuoteMedia [URL=http://www.quotemedia.com]www.quotemedia.com[/URL] [/QB][/QUOTE]
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