AMC.L Regulatory News (AMC)

11 Oct 2006 07:00

Amur Minerals Corporation11 October 2006 11th October 2006 Amur Minerals Corporation ("Amur" or "the Company") Maly Krumkon Exceeds Expectations Amur Minerals Corporation (AIM:AMC), the mineral resource company developingmetal deposits in Russia, announces results at its Maly Krumkon mineralised zonehave expanded the Company's resource base beyond a quarter of a million tonnesof nickel, based on the results of a resource estimate prepared by SRKConsulting. Key points from SRK's report are as follows: • The drilled area of the Maly Krumkon zone contains 50,000 tonnes of nickel and 15,000 tonnes of copper. • Substantial potential to increase the resource remains within the drilled area • The resource estimate is contained within an area of approximately 1.5 kilometres in length. • Maly Krumkon has the potential to be exploited by open pit mining. SRK's JORC compliant resource estimate as of September 2006 is detailed below: Tonnage (Mt) Ni (%) Ni (t) Cu (%) Cu (t)Inferred Mineral Resource 11.0 0.45 50,000 0.14 15,200 Due to the wide spaced nature of the data, SRK has only classified a portion ofthe mineralised zone as an Inferred Mineral Resource as defined by the JORCCode. Areas between existing drill holes and trenches have not been included inthe resource model and in fill drilling could significantly expand the resourcewithin the immediate area of drilling and trenching. In the study, SRK comments"Further work is warranted to both confirm the full extent of the mineralisationand to enable a greater proportion of this to be reported as a resource asdefined by the JORC Code." The newly reported Maly Krumkon resource represents an expansion of 25% to thetotal project resource base. When added to the drill defined resources fromVodorazdelny and Ikenskoe, the new inferred and indicated resources total126,000 tonnes and 132,000 tonnes, respectively. Commenting on the results, CEO Robin Young says: "This is very exciting. Notonly do these results significantly exceed our expectations, but we are alsoencouraged that SRK sees tremendous upside potential in Maly Krumkon. We shalltailor our work in the next field season to explore these areas of potential. " The information contained in this announcement has been reviewed and approved onbehalf of SRK Consulting (UK) Limited by Nick Fox, BA MSc DIC ACA. Mr. Fox is aQualified Professional Geologist. Ends Enquiries: Amur Minerals Corp. Nabarro Wells & Co. Limited Parkgreen CommunicationsRobin Young John Wilkes Justine Howarth /CEO Director Victoria Thomas+7 (917) 520 3491 +44 (0) 20 7710 7400 +44 (0) 20 7493 3713 Notes to Editors Relevant Information on Maly Krumkon Exploration of the three kilometre long Maly Krumkon mineralised zone hasincluded a total of four diamond core drill holes and four trenches. These arelocated along a total length of 1.5 kilometres. The holes are drilled on twosections located approximately 550 metres apart and have a spacing approaching100 metres. The trenches have been excavated between and beyond the drillholes. SRK Consulting's resource estimate has been limited to this area andspecifically excludes the remainder of the Maly Krumkon structure which can beobserved to continue for an additional length of about 1.5 kilometres. Theresource model has also been constructed using industry standards (JORC) andmuch of the area between the drill holes and outward has not been assigned anyresource. Both of these afore mentioned items confirm that the zone requiresadditional exploration work and Maly Krumkon could be substantially larger thencurrently reported. Description of Assets The Amur Group's principal asset is the 100% owned Kun-Manie explorationlicence, a nickel-copper deposit located in the Amur Province in the far east ofthe Russian Federation. The Kun-Manie licence area is approximately 950 squarekilometres and is located 700 kilometres northeast of the capital city ofBlagoveshchensk and is 750 kilometres north of the Chinese border. In April2004 ZAO Kun-Manie, a wholly owned subsidiary of Amur, was granted a licence toexplore for nickel and related metals. Amur also has an exploration licence forgold and copper located near Komsomolsk in the Khabarovsk Oblast. Work carried out to date on the Kun-Manie licence including diamond coredrilling, trenching and geological mapping has identified four mineralisedtargets, the Vodorazdelny, Ikenskoe, Falcon and Maly Krumkon zones each of whichwarrant further exploration. The four zones are located within a ten kilometrelong segment of the 40 kilometre long Krumkon Trend which is the primaryexploration target within the licence area. An additional two targetsidentified as Chornie Ispelene and Kubuk have also been identified within thetrend and require additional geological investigation and represent potentialdrill targets. In combination, the six targets are located along approximately13 kilometres of the length of the Krumkon Trend whilst the remainder of thetrend contains additional potential based on geochemical sampling and geologicalmapping. To date, detailed exploration conducted by the Company and an independentlycalculated resource estimate compiled by SRK Consulting indicates the presencesof Indicated and Inferred resources. These resources are contained within threedeposits identified as Vodorazdelny, Ikenskoe and Maly Krumkon. The resourceestimate derived by SRK Consulting as at September 30 2006 is reported inaccordance with JORC Code definitions and guidelines. In summary, SRK'sresource estimate comprises an Indicated Mineral Resource of 28.4Mt with meangrades of 0.47% nickel and 0.13% copper and an Inferred Mineral Resource of28.7Mt with mean grades of 0.44% nickel and 0.12% copper together containingapproximately 259,000 tonnes of nickel and 73,700 tonnes of copper. Theresource estimate within the Vodorazdelny and Ikenskoe areas will be updated inthe fourth quarter of this year. This information is provided by RNS The company news service from the London Stock Exchange