Last checked at 9 Sep 2014 07:00
9 September 2014
AMUR MINERALS CORPORATION
(AIM: AMC)
Mining Licence Update
Updated Approval Received from the Federal Security Service
Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper exploration and development company focused on base metal projects located in the Far East of Russia, is pleased to update shareholders on the status of the conversion of 36 square kilometres of its 950 square kilometre exploration licence at Kun-Manie to that of a production licence ("mining licence"). The area contains the drilled mineralisation and resource potential identified during the last 10 years of exploration. As noted in Amur's 4 September 2014 RNS, Russian authorities have now informed the Company that the Federal Security Service ("FSB") has updated and delivered its positive conclusion to Rosnedra covering the period since its last review in September 2013. As a result, the necessary updates, approvals and protocols are now in hand allowing for further advancement through the production licence review and approval.
Highlights:
· Updated reports and approvals from the Anti-Monopoly Board ("FAS"), Federal Security Service ("FSB") and Ministry of Defence ("MOD)" are complete.
· The Company and Rosnedra (State Licensing Agency) are in the final stages of agreeing terms and conditions for the mining license. Once agreed, Rosnedra will forward the application to the Ministry of Economic Development ("MED") for its review and approval.
· Upon MED approval, the application for conversion to a production licence will be submitted by Rosnedra to the Ministry of Natural Resources ("MNR"), the parent organization to Rosnedra.
· The application will then be forwarded to the Deputy Prime Minister ("DPM") in charge of Natural Resources for the Russian Government. Once the DPM's review is complete Prime Minister Dmitry Medvedev will sign off on the application. With Mr. Medvedev's signature, Rosnedra will authorize issuance of the mining license.
The Board of Director's of Amur remains confident that it will receive approval of the conversion of the 36 square kilometre area that contains the resource and reserve potential into a mining licence. Amur and the Russian authorities are in frequent contact to ensure that all questions and any additionally requested materials are expeditiously provided.
Robin Young, CEO of Amur Minerals Corporation, commented:
"The Company is pleased that all necessary updated materials have been provided and approved allowing us to continue advancing the mining application through the award process. We are finalising agreement of the terms related to the mining licence with Rosnedra and will continue close cooperation with the Russian authorities in supporting their activities and by responding to any additional queries that they may have. We appreciate their positive stance on finalising the terms in a timely manner."
Enquiries:
Company Amur Minerals Corp. | Nomad and Broker S.P. Angel Corporate Finance LLP | Public Relations Yellow Jersey |
Robin Young CEO | Ewan Leggat Laura Harrison | Dominic Barretto Kelsey Traynor |
+44 (0) 7981 126 818 | +44 (0) 20 3463 2260 | +44 (0) 77 6853 7739 |
Notes to Editors
The information contained in this announcement has been reviewed and approved by the CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges.
For further information, see the Company website at www.amurminerals.com.