The exploration of the Bogomolovskoe deposit has now been completed and the
results are officially announced as follows.
Exploration results show gold content of 3.5 grams per ton. As of the end of
November 2010, the Bogomolovskoe reserves are estimated at 2,2 million tons of
ore, which is equivalent to a gold reserve of about 7.6 tons of gold.
Table 1. Statement of the Company's C1 + C2 reserves and gold grades
--------------------------------------------------------------------------------
| Deposit | Ore/milj ton | Grade | C1+C2 Reserv/ton gold |
--------------------------------------------------------------------------------
| Tardan | 2,0 | 4,0 g/t | 8,1 |
--------------------------------------------------------------------------------
| Bogomolovskoye | 2,2 | 3,5 g/t | 7,6 |
--------------------------------------------------------------------------------
| Kozlovskoye | 1,1 | ca 9,0 g/t* | 9,5* |
--------------------------------------------------------------------------------
| Sub total | | | 25,2 |
--------------------------------------------------------------------------------
| Alluvial | | 0,5-2 g/m3 | 6,3 |
--------------------------------------------------------------------------------
| TOTAL | | | 31,5 |
--------------------------------------------------------------------------------
* The numbers are preliminary. The final registration is expected to be
completed in Q1 2011.
The alluvial recoverable gold reserves are estimated (excluding Artel Tyva,
which was sold in November 2010) at about 6.3 tons, with an average gold content
in the gold sand of between 0.5 - 2 grams per cubic meter.
Additional information:
Short name: CAG
ISIN-code: SE0001337213
For more information, please contact:
Lars Guldstrand, Chairman of the Board, phone +46 70 528 8181
e-mail: lars.guldstrand@centralasiagold.se
Preston Haskell, CEO in Central Asia Gold AB, tel: +46 76 890 5549
E-mail: preston.haskell@centralasiagold.se
Website: www.centralasiagold.se, Postal and visiting address: Engelbrektsplan 2,
4tr
SE-114 34 Stockholm
Central Asia Gold AB is a Swedish mining company focused on gold production and
exploration in Russia in the central parts of Asia. The gold production was
initiated in late January 2005 and the assets were as at end of 2008 estimated
to encompass some 800,000 oz of C1/ C2 Russian gold reserves.
Since July 19, 2010, CAG´s shares are traded on First North Premier at the
NASDAQ OMX Nordic Exchange under the short name CAG. For more information please
visit www.centralasiagold.se. Mangold Fondkommission is Certified Adviser to
CAG, 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 Central Asia Gold AB's (“CAG”) current plans, estimates, strategies
and beliefs, and other statements that are not historical facts, are
forward-looking statements about the future performance of CAG. 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 CAG operates; (ii) changes relating to the
geological information available in respect of the various projects undertaken;
(iii) CAG'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. CAG 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 Central Asia
Gold 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.
