Arc Minerals Regulatory News (ARCM)

18 Apr 2008 12:35

Templar Minerals Limited18 April 2008 Friday 18 April 2008 Templar Minerals Plc ("Templar" or the "Company") Commencement of Gold Treatment Operations at the Vatukoula Gold Mine in Fiji Templar Minerals, which holds 26% of the issued share capital of River DiamondsPlc ("River Diamonds"), notes the following announcement made by River Diamondstoday confirming the commencement of gold treatment operations at the VatukoulaGold Mine in Fiji. River Diamonds made the following announcement: River Diamonds announces that gold processing has commenced today at theCompany's 100% owned Vatukoula Gold Mine in Fiji.. The JORC compliant gold resources at Vatukoula total 16.84 million tonnes at anaverage grade of 9.49 grams per tonne of gold or 5.15 million ounces of gold. First gold from continuous operations is expected to be poured over the next fewweeks. The mine is budgeted to produce some 28,000 ounces of gold to 30 June2008 and 111,000 ounces of gold for fiscal year 2008/2009. David Lenigas, Executive Director of River Diamonds, commented: "This is a significant milestone for the Company, the Vatukoula Gold Mine andthe Fiji economy generally. The mining operations are in full swing and open pitmining on the high grade President Hill open pit commenced today." Qualified Person Kiran Morzaria B.Eng (ACSM), MBA, has reviewed and approved the informationcontained in this announcement. Kiran holds a Bachelor of Engineering(Industrial Geology) from the Camborne School of Mines and an MBA (Finance) fromCASS Business School. Kiran is the Finance Director of River Diamonds. He is afellow of the Geological Society. Contacts for Templar Minerals: Templar Minerals Tel: +44 (0) 7881 825378David Lenigas, Chairman Tel: + 27 11 469 4900Ian Stalker, Non Exec-Director Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396Roland Cornish Rosalind Hill Abrahams Financial Dynamics Tel + 44 (0) 20 7831 3113Ben BrewertonEd Westropp This information is provided by RNS The company news service from the London Stock Exchange