Orogen Gold Regulatory News (ORE)

20 Dec 2006 09:58

Aricom PLC20 December 2006 Press Release 20 December 2006 Aricom plc ("Aricom" or "the Group") Accident at K&S Aricom plc (AIM: TIO), the Anglo-Russian developer of mineral resources, wasinformed by its independent contractor, the State geological consultancy companyDalgeophysica, that sadly four of Dalgeophysica's employees died in an accidentyesterday whilst working at Aricom's K&S project. The accident took place yesterday afternoon during the digging of an explorationtrench on the Kimkanskoye deposit. Aricom understand that the side wall of thetrench collapsed. Jay Hambro, Chief Executive of Aricom plc, commented: "It is with great sadness that we hear this tragic news especially at this timeof year. I speak on behalf of everyone at Aricom in saying that our thoughtsare with the families of the four individuals." - Ends - For further information: Aricom plcJay Hambro, Chief Executive Tel: +44 (0) 20 7201 8939j.hambro@aricom.plc.uk www.aricom.plc.uk AbchurchCharlie Jack/ George Parker Tel: +44 (0) 20 7398 7700charlie.jack@abchurch-group.com www.abchurch-group.com Notes to Editors Aricom plc is a leading developer of Russian metal and mining assets, focusingon iron ore and ilmenite production and delivery. The Company was establishedin September 2003 to develop projects, situated in the north west of the AmurRegion, in Russia's Far East. These projects are set to service the Chinese andRussian commodity market. Aricom currently operates three projects in the Amur region and the adjoiningJewish Autonomous Region. The Company's projects Kuranakh, K&S and Bolshoi Seymhave combined estimated reserves and resources of over one billion tonnes ofIron Ore and Ilmenite ores. The location of the Company's deposits offer asignificant logistical advantage being close to the Trans-Siberian-Express andthe Baikal-Amur Magistral railways. In 2005, 700 million tonnes of iron ore were shipped globally, of that 300million (43%) was shipped to China. It is currently estimated that China is oncourse to have imported 300 million tonnes of ore by the end of 2006 tofacilitate its demand for steel production. In June 2006, Aricom announced aMemorandum of Understanding with China's largest nonferrous metal companyChinalco, to co-operate in the design and development of a Titanium Spongeproduction plant in China. Aricom is headquartered in London, with a highly experienced board of directorscomposed of British and Russian citizens. The company's shares were admitted totrading on the AIM Market in December 2003 and trade under the symbol TIO.L. Forfurther information please visit www.aricom.plc.uk This information is provided by RNS The company news service from the London Stock Exchange