AMC.L Regulatory News (AMC)

19 Nov 2007 07:00

Amur Minerals Corporation19 November 2007 Amur Minerals Corporation ("Amur" or "the Company") Maly Krumkon Resource Increased by 140% Amur Minerals Corporation (AIM: AMC), an exploration and development companyfocused on East Russia, announces the results of its resource update for theMaly Krumkon deposit located on its Kun-Manie nickel copper licence in easternRussia. Using the 2007 drill results, SRK Consulting has estimated the MalyKrumkon deposit to be substantially larger, in terms of both total tonnes of oreand tonnes of contained nickel and copper, than was reported at year end 2006. Highlights: • The infill and step out drilling has defined a total of 26.3 million tonnes of ore within the combined resource classes of Indicated and Inferred, as defined by the JORC Code. This represents an increase of some 140% over last year's resource estimate for the Maly Krumkon deposit; • The total estimated contained nickel and copper has been increased to 136,500 tonnes and 37,700 tonnes respectively. This represents an increase of some 170% for nickel and 150% for copper compared to that previously reported; • The average nickel grade has been increased to 0.52%, up from 0.45% in last year's estimate; and • Some 15.0 million tonnes of the updated resource estimate, with mean grades of 0.49% nickel and 0.13% copper, and containing 73,800 tonnes of nickel and 15,000 tonnes of copper respectively, has been reported by SRK Consulting as an Indicated Mineral Resource, as defined by the JORC Code, and the remainder as an Inferred Mineral Resource. The updated newly expanded resource estimate for Maly Krumkon is presentedbelow. Maly Krumkon Updated JORC Resource Estimate - November 2007 Resource Tonnage Ni Ni Cu Cu Category (Mt) (%) (t) (%) (t) Indicated 15.0 0.49 73,700 0.13 19,900 Inferred 11.2 0.56 62,800 0.16 17,800Total Maly Krumkon Resource 26.2 0.52 136,500 0.14 37,700 Global Resource - All Deposits Total Measured 3.7 0.61 22,700 0.16 5,800 Total Indicated 47.7 0.48 226,800 0.13 64,400 Total Inferred 17.1 0.54 91,500 0.15 25,300 Grand Total 68.5 0.50 341,000 0.14 95,500 Robin Young, Amur's Chief Executive Officer, commented: "The latest drilling has added 34% more nickel to our total resource base. Inaddition, we have significant potential copper, cobalt, platinum and palladiumcredits which we do not report." "What is even more encouraging than these excellent results is the expansionpotential. Positive geophysical results indicate we have at least another fourkilometres of ground to the east which we need to drill. As well as thisadditional potential along strike, we also have the upside of extending theresource down dip. I believe we are just seeing the tip of what is a much largerresource at Maly Krumkon." 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. 19 November 2007 Enquiries: Company Co-Broker Nomad and Public Relations Co-BrokerAmur Minerals Fox-Davies Capital RBC Capital BanksideCorp. Limited MarketsRobin Young Daniel Fox-Davies Andrew Smith Michael PadleyCEO Martin Eales +44 (0)7981 +44 (0) 20 7936 +44 (0) 20 7029 +44 (0) 20 7367126 818 5200 7881 8881 Notes to Editors Kun-Manie Drill Resource Update The 2007 exploration drill programme on the Maly Krumkon deposit was designedfor resource expansion by in fill and step out drilling. This deposit is one ofthree from which drilled resources are being reported while four green fieldtargets remain to be drilled. The Maly Krumkon structure has been mapped and identified using a modifiedground based IP geophysical survey. The IP results indicate that the structuremay exist over a total length of approximately five kilometres of which only 700metres has been drilled. Drilling is required to confirm the potential presenceof economic mineralisation projected to exist to the east of the currentlydefined resource. Within the drilled area, the average true thickness is estimated to be about 30metres. Using 14 drill holes and four trenches for which analytical results wereavailable, SRK Consulting constructed a wire frame model of the zone using anickel only cut off grade of 0.10%. Resource grades were estimated for nickel,copper, and cobalt using the Ordinary Kriging method. The resource has beencompiled in accordance with JORC reporting standards. Based on the Maly Krumkon results alone, the newly updated resource within thelicence has been increased of approximately 29% in tonnage, 34% in containedtonnes of nickel and 31% in contained tonnes of copper. Pt, Pd and Co are notreported at this time. Updated Global JORC Mineral Resource Estimate - November 2007 Orebody Tonnage Ni Ni Cu Cu ------------------------------------------------------------------------------- (Mt) (%) (t) (%) (t) ----------------------------------------------------------------- Vodorazdelny ----------------------------------------------------------------- Indicated 5.9 0.71 41,800 0.20 11,800 ------------------------------------------------------------------------------- Ikenskoe ----------------------------------------------------------------- Measured 3.7 0.61 22,700 0.16 5,800 ------------------------------------------------------------------------------- Indicated 26.8 0.42 111,300 0.12 32,700 ------------------------------------------------------------------------------- Sub-total 30.5 0.44 134,000 0.13 38,500 ------------------------------------------------------------------------------- Inferred 5.9 0.49 28,700 0.13 7,500 -------------------------------------------------------------------------------Total Ikenskoe 36.4 0.45 162,700 0.13 46,000 ------------------------------------------------------------------------------- Maly Krumkon ----------------------------------------------------------------- Indicated 15.0 0.49 73,700 0.13 19,900 ------------------------------------------------------------------------------- Inferred 11.2 0.56 62,800 0.16 17,800 ------------------------------------------------------------------------------- Total Resource -------------------------------------------------------------------------------Total Measured 3.7 0.61 22,700 0.16 5,800 -------------------------------------------------------------------------------Total Indicated 47.7 0.48 226,800 0.13 64,400 -------------------------------------------------------------------------------Total Inferred 17.1 0.54 91,500 0.15 25,300 ------------------------------------------------------------------------------- Grand Total 68.5 0.50 341,000 0.14 95,500 ------------------------------------------------------------------------------- The Vodorazdelny and Ikenskoe tonnages and grades in above table are based ondrilling completed through the 2006 field season. These resource numbers havenot been updated to reflect the drill results of the 2007 field season assubstantial portions of the analytical results are not yet available. This information is provided by RNS The company news service from the London Stock Exchange