Auriant Mining AB (publ.) is pleased to announce that following the completion of the drilling and exploration programme at Kara-Beldyr (Republic of Tyva, Russia) It has successfully concluded the acquisition of the outstanding 70% interest in Kara-Beldyr from Canada’s Centerra Gold Inc. This will bring Auriant Mining’s share of Kara-Beldyr to 100%. As consideration for this transaction, Auriant Mining will pay Centerra Gold a Net Smelter Royalty of 3.5% on any mineral production from Kara-Beldyr in the future.
Auriant Mining entered into a joint venture agreement in 2008 with Centerra Gold Inc. to explore and develop the Kara-Beldyr deposit whereby it earned a 70% share in Kara-Beldyr in exchange for contributing to the exploration programme. In 2012 Centerra announced preliminary NI 43-101 resource estimates of 289,000 contained ounces Indicated and 211,000 contained ounces Inferred at the Kara Beldyr project. In 2014 exploration was completed and a new reserve calculation will be submitted to GKZ for approval by the end of the year, with approval expected in Q1 2015.
Lord Daresbury, Chairman of Auriant, said, “I am particularly pleased to announce this acquisition. Together with our Centerra partners we have spent around US$11 mln, over 6 years to explore the exciting Kara-Beldyr prospect. As a result of our joint efforts, we have identified a major gold resource, in the same region as our Tardan mine. Kara-Beldyr will have more reserves than currently at Tardan, and has the potential to substantially increase the Company’s gold production. Given our presence in the region Auriant Mining is best placed to exploit this deposit and we expect to achieve significant management synergies with our Tardan operation. Our next task will be to complete a bankable feasibility study with the aim of starting construction in 2016.”
For more information, please contact:
Max Yacoub, CIO
тел: +7 495 660 22 20
e-mail: max.yacoub@auriant.com
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com
Twitter: @auriantmining
Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including two operating mines (Tardan and Solcocon) and two early stage exploration assets. The group’s mineral licenses are estimated to contain almost 1,330,000 troy ounces of gold reserves according to the Russian standards (GKZ).
Since July 19, 2010, Auriant Mining´s shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name AUR (before June 25, 2012 - under the short name CAG). For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50 or visit www.mangold.se.
Cautionary Statement: Statements and assumptions made in this report with respect to Auriant Mining AB’s (“AUR”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts
This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.
