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Shelron Group Enters Into Gold Exploration in Northern Chile
The country is home to US$9 billion in investments in its gold and silver mining sector, according to Cochilco
NEW YORK, November 7, 2011 /PRNewswire/ --

Besides Africa, Shelron group enters into gold exploration in Chile based on the country's potential, and the company's strategy to explore gold in Africa and in the Americas.

Shelron is interested in more deals to increase its portfolio and opportunities. The focus of the company is to adhere to its acquisition criteria and only acquire a prospecting license in Chile that can potentially be developed into proven reserves or productive metal resource mines.

Chile gold production:

In five years, the country is expected to become one of the largest producers of the metal worldwide.

That's where Chile strives to be among the countries that produce the largest amount of gold in the world.

The Andean nation isn't there yet - but it's getting close, officials said.

Chile is ranked 17th in the global ranking of gold production, according to Bloomberg, with 39.494 metric tons in 2010, according to the Chilean Mining Ministry.

China is ranked atop the list with 324 metric tons produced annually, followed by Australia (223 metric tons); South Africa (220); United States (219); Russia (205); Peru (182), Indonesia (166), Canada (96); Ghana (90) and Uzbekistan (75), according to Bloomberg.

But Chilean officials are optimistic their continued investment in the sector will enable the industry to ascend the rankings into the top 10. They also envision gold rivaling copper as the main source of revenue for the economy.

"Gold has become a secure haven for investors," said Vicente Pérez, an analyst who works for the Chilean Copper Commission (Cochilco).

The country is home to US$9 billion in investments in its gold and silver mining sector, according to Cochilco.

Gabriel Balcázar, a corporate mining consultant, said the investments made to increase the production of gold also will make the Andean nation an even bigger player in the silver market.

Chile is ranked fifth in the world in silver production with 1,607 metric tons annually, just behind fourth-place Australia (1,727 metric tons). Peru, with 3,471 metric tons, tops the list, according to 2010's figures by the United States Geological Survey.

Balcázar, however, said Chile has the potential to move into the top four.

About Shelron Group

Shelron Group, Inc. (OTCBB : SRNG) is a New York based mineral exploration and development company focused on acquisition, exploration, evaluation, and development of mineral resource properties in Africa and South America. The Company incorporated in Delaware and is headquartered in New York.

Additional information is available at http://www.Shelron-Group.com.

Safe Harbor Statement

There can be no assurance that a definitive agreement with any party will be executed on acceptable terms or at all. Additionally, even assuming acceptable terms are reached, there can be no assurance that the required conditions of such transactions would be met.

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives and other forward looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects," or similar terms, variations of such terms or the negative of such terms. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. A number of factors could cause our actual results to differ from anticipated results expressed in such forward-looking statements. Such factors are addressed in our filings with the Securities and Exchange Commission (available at http://www.sec.gov). Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein. We assume no obligation to update any forward-looking statements.

Contact:
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Circadian Group
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SOURCE Shelron Group , Inc.





Source: PR Newswire (November 7, 2011 - 1:08 PM EST)

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