Stockholm, 2012-08-24 15:37 CEST (GLOBE NEWSWIRE) -- Auriant Mining AB is pleased to announce that on August 24, 2012 the heap leaching factory at Tardan mine was successfully commissioned. The official opening ceremony was attended by Auriant’s board of directors, key management and the governor of Tyva republic. The final permit to commission the factory at Tardan mine was issued the same day by TyvaNedra, the local department of the state subsoil usage agency located in Kyzyl, the republic of Tyva. Now that the factory is fully commissioned and permitted, the heap leaching operation will go through the ramp-up period in order to achieve a 1000 kg Au annual production in next 2 years. The test runs carried out through July-August have shown very encouraging results with the first gold output being sent to refinery in August 2012. The production from the heap leaching facility to date amounted to 55 kg Au.
“We are very excited that Tardan heap leaching factory has been finally commissioned and has also received all required permits. It is a major accomplishment for the company and I would like to thank all Auriant’s employees for their efforts in achieving this milestone. The commissioning will enable Auriant to significantly increase production levels and generate steady revenues from gold sales. Tardan being fully commissioned adds a great value for our shareholders. We are also very proud of commissioning this socially important project in Tyva and building a first heap leaching operation in the republic. The project would be impossible without the major support from the Tyvavian government”, said Denis Alexandrov, CEO of the company.
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com, Postal and visiting address: Engelbrektsplan 2, 4tr SE-114 34 Stockholm
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, one of which, Kara-Beldyr, is a joint venture with the major Canadian gold producer Centerra Gold. The group’s assets comprise a large number of mineral licenses held by various subsidiaries. The licenses are estimated to contain almost 1,000,000 troy ounces (oz, 1 oz = 31.1 g) of gold reserves according to the Russian standards (GKZ).
Prior to 25 June 2012 the company was registered under the name Central Asia Gold AB. (CAG). 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.
Dmitry Stankov, Development Director in Auriant Mining AB,
tel: +7 903 282 30 88
e-mail: dmitry.stankov@auriant.com
Denis Alexandrov, CEO in Auriant Mining AB,
tel: +7 903 550 48 40
e-mail: denis.alexandrov@auriant.com
