Amur Minerals Regulatory News (AMC)

8 Aug 2006 07:01

Amur Minerals Corporation08 August 2006 8 August 2006 Amur Minerals Corporation ("Amur" or "the Company") Gold - Copper Exploration Licence Awarded Amur Minerals Corporation (AIM: AMC), the exploration company with assets in fareast Russia, announces that it has expanded its asset base by being awarded theAnadjakan gold- copper project exploration licence (KhAB 13702 TP) via its wholly owned subsidiary, ZAO Kun-Manie. The licence covers an area of 250 square kilometres and is valid for a term of five years, convertible to a 20 year mining licence following a commercial discovery. The licence is located in the Khabarovsk region and is readily accessible bymaintained roads with abundant infrastructure located nearby. The area wasexplored by various groups during Soviet times, most recently in 1991. Theproject is characterised by: • Gold- and copper-bearing veins located within highly developed faults and shear zones in a granitic intrusive complex and its overlying sedimentary rocks. Mineralisation at Anadjakan is characterised by near-vertical quartz and quartz sulphide veins as well as quartz flooded breccia zones. The primary host zone is up to 250 metres in width and extends over 5 kilometres in length. Gold has been confirmed by geochemical sampling, limited trenching and some drilling. Similar structural settings have been identified through geophysics, but remain untested. • The potential for an underlying porphyry copper system is provided in historical Russian expert opinions and is evidenced by anomalous copper, molybdenum and gold values detected by geochemical sampling. • Extensive alteration of the sedimentary rocks located at the contact of the granitic complex carries anomalous gold values, and is confirmed by geochemical sampling. • The property is located within 20 kilometres of power and a rail head at the community of Elban. An extended field season of seven months can be expected. Amur will undertake a three-phased approach in accordance with the licenceagreement. These phases will consist of confirming the existing historicalresults, conducting trenching and drilling, and concluding with the calculationof a Russian based resource estimate. This work is to be accomplished over thenext five years. CEO Robin Young stated, "Anadjakan is a very promising new region for us to addto our portfolio, gaining geographical and commodity diversity, together withaccess to a project near infrastructure. The existing data provides informationindicating that the site is highly prospective, and we intend to embark on aprogramme designed to confirm this imminently." The information contained in this announcement has been reviewed and approved bythe CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) andis a Qualified Professional Geologist, as defined by the Toronto and VancouverStock Exchanges. Enquiries: Amur Minerals Corp. Nabarro Wells & Co. Limited Parkgreen CommunicationsRobin Young John Wilkes Justine Howarth /CEO Director Victoria Thomas+44 (0) 7981 126 818 +44 (0) 20 7710 7400 +44 (0) 20 7493 3713 Notes to Editors The Amur Group's principal asset is the 100% owned Kun-Manie explorationlicence, a nickel-copper-PGM deposit located in the Amur Province in the fareast of the Russian Federation. The Kun-Manie licence area is approximately 950km(2) and is located 700 km northeast of the capital city of Blagoveshchensk andis 750km north of the Chinese border. In April 2004 ZAO Kun-Manie, a whollyowned subsidiary of Amur, was granted a licence to explore for nickel andrelated metals, including copper and platinum, in respect of the Kun-Manielicence. In addition, the Group has now been awarded a five year explorationlicence on the Anadjakan gold and copper project located in the territory ofKhabarovsk. Work carried out to date on the Kun-Manie licence, including diamond coredrilling, trenching and geological mapping, has identified two orebodies(Vodorazdelny and Ikenskoe) and two additional mineralised targets (Falcon andMaly Krumkon). Both mineralised zones warrant further exploration. The fourzones are located within a ten kilometre segment of the 40 kilometre longKrumkon Trend which is the primary exploration target within the licence area.Additional targets within this zone have been identified with two presentlyrequiring additional investigation (Chornie Ispelene and Kubuk) in advance ofdrilling. In combination, the six targets are located along approximately 13kilometres of the length of the Krumkon Trend whilst the remaining 27 kilometresof the prospective trend contains additional potential based on geochemicalsampling and geological mapping. Several anomalously mineralised host structuresrequiring additional follow up exploration have been identified. To date, detailed exploration conducted by the Company at Kun-Manie and anindependently calculated resource estimate compiled by SRK Consulting indicatethe presence of Indicated and Inferred resources. These resources are containedwithin the two deposits, Vodorazdelny and Ikenskoe. The resource estimatederived by SRK Consulting as at 31 December 2005 is reported in accordance withJORC Code definitions and guidelines and was published in the Amur AdmissionDocument dated 10 March 2006. In summary, SRK's resource estimate which doesnot include Anadjakan comprises an Indicated Mineral Resource of 28.4Mt withmean grades of 0.47% nickel and 0.13% copper and an Inferred Mineral Resource of17.7Mt with mean grades of 0.43% nickel and 0.12% copper, together containingapproximately 209,000 tonnes of nickel and 58,500 tonnes of copper. This information is provided by RNS The company news service from the London Stock Exchange