Aurum Mining PLC
07 February 2006
For immediate release 7 February 2006
AURUM MINING PLC
('Aurum' or 'the Company')
Extension of Exploration Licence in Kyrgyz Republic
Aurum Mining plc (AIM: AUR), the company formed to acquire gold and other
mineral extraction projects in the Former Soviet Union (FSU), is pleased to
announce that its exploration licence for the Andash gold and copper project in
the Kyrgyz Republic has received an anticipated extension from the Kyrgyz
government from 31 January 2006 to 31 December 2010.
The extension of the exploration licence will allow the Company to continue its
work on accurately establishing resource opportunities within the licence area,
where current core drilling is expected to show good results in Zones 2 and 3.
These zones showed promising resource opportunities following recent work
involving the re-opening, cleaning and extending of trenches. In addition, the
extension of the exploration licence will allow the Company to continue
preparatory work on its new Andash exploration opportunity, Tokhonysay.
The State Commission of Resources of the Kyrgyz Republic has already included
21.7 million tonnes of C1 and C2 reserves for Andash Zone 1 into the State
Register, amounting to total gold and gold equivalent of more than 1.5 million
ozs. Work is continuing on the feasibility study for Zone 1 in preparation for
the Company's submission of a mining licence application, which is expected
later this year.
Mark Jones, Chief Executive of Aurum Mining, commented: 'Whilst we had
anticipated an extension to our exploration licence from the Kyrgyz authorities
we are nonetheless delighted to receive it. We are planning to achieve
significant milestones for the Company during the period of the renewed licence,
including the submission of a mining licence for Andash Zone 1 and the
commencement of commercial gold production.'
For further information:
Aurum Mining plc Tel: 020 7478 9050
Sean Finlay, Chairman
Mark Jones, Chief Executive
W H Ireland Tel: 0121 616 2101
Tim Cofman
Buchanan Communications Tel: 020 7466 5000
Mark Court
James Strong
Notes to editors
Aurum joined the AIM market of the London Stock Exchange in May 2004 with the
strategy of seeking, evaluating and acquiring gold and other mineral extraction
projects in the Former Soviet Union (FSU). In January 2005 the Company completed
its first acquisition, giving the Company an exploration licence over a gold and
copper project in the Kyrgyz Republic. In its State Register, the State
Commission of Resources of the Kyrgyz Republic has included 21.7 million tonnes
of C1 and C2 reserves from the project, amounting to gold and gold equivalent of
more than 1.5 million ozs.
This information is provided by RNS
The company news service from the London Stock Exchange