China Armco Metals Agrees to Acquire up to a 19.9% Stake in Apollo Minerals Ltd., an Australian Iron Ore Exploration Company, for Approximately U.S. $3.6 Million

China Armco Metals, Inc. (NYSE Amex: CNAM), a distributor of imported metal ore and metal recycler with a new state-of-the-art scrap metal recycling facility in China, today reported that has agreed to Acquire up to a 19.9% stake in Apollo Minerals, Ltd., an Australian iron ore exploration company, for approximately U.S. $3.6 million in cash.

The press release is quoted as saying:

Apollo is an Australian iron ore exploration company listed on the Australian Securities Exchange.

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