Auriant Mining AB (publ.) is pleased to announce that it has signed an option agreement with Aristus Holding Ltd. to purchase a 50% interest in five gold properties located in Russia’s Chukotka region, including one producing mine, Valunisty. The agreement was signed following the Boards decision previously announced in January 2015.
According to the terms of the option agreement, Auriant Mining has the right, but not the obligation, to buy a 50% interest in Aristus’s properties in Chukotka for the price of US$ 32.5 mln not later than January 1, 2016.
Auriant Management LLC (a fully-owned subsidiary of Auriant Mining AB) has been managing Aristus’s properties in Chukotka since January 2015. The Company has management contracts with Aristus-affiliated Valunisty Mine LLC and Kanchalano-Amguemskaya Square LLC (KAP). In addition, Auriant Management provides consultancy services to Nord-East Mining and Geological Company (license holder for the Kayenmyvaam site), North Subsoil LLC (Uteveem license holder), and Mangazei LLC.
”This option agreement presents a good growth opportunity for Auriant Mining, potentially adding Valunisty, a mine currently operating at full capacity, and a solid pipeline of exploration assets in the Chukotka region, where several world class mines are located,” Denis Alexandrov, Auriant CEO commented on the option agreement.
Chukotka gold properties
Valunisty: A producing gold mine with H1 2015 production of 500 kg of gold. The C1 + C2 reserves of gold are 17.5 tonnes at an average grade of 5.9 g/t and 178 tonnes of silver at an average grade of 59.6 g/t, equaling total C1 + C2 reserves of around 20 tonnes of gold equivalent. Mining is open pit, with a mill capacity of 250,000 tpa, and straightforward carbon in leach processing with gold recoveries of 95%. With limited previous exploration, there is excellent potential for a further increase in reserves at the deposit.
Kanchalano-Amgguyemskaya Area (KAP): This is an 831 km2 license area, incorporating several known deposits and prospects, including Valunisty.
Uteveem: This is a 1,094 km2 license area containing at least five identified silver-gold prospects. No detailed exploration has been undertaken to date.
Kayenmyvaam: This is a 1,214 km2 license area containing at least six prospects. One prospect, Arykvaam has had some limited core drilling of 5,000 m and 5,900 m of trenching which has indicated a sizeable gold and silver resource.
Mangazei: This is a 639 km2 license area. Early stage exploration work has shown two types of mineralization: copper-porphyry and epithermal gold-silver veins
For more information, please contact:
Denis Alexandrov, CEO
tel: +7 495 660 22 20
e-mail: denis.alexandrov@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) one early stage exploration asset and one development asset. The group’s mineral licenses are estimated to contain official Russian State Reserves Committee (GKZ) reserves of 829 500, 000 troy ounces (1 oz = 31.1 g) in the C1 and C2 categories and 500,000 troy ounces in NI 43-101 standard. Since January 2015 the Company is also managing 5 gold assets at Chukotka, including working mine Valunisty.
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. 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.
