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Last checked at 
24 Jan 2014 10:00
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24 January 2014
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Stellar Resources plc
Β ("Stellar Resources" or the "Company")
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Crown Estates grants 12 month extension of Welsh Gold Properties.
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Stellar Resources (AIM: STG) is pleased to announce that the Crown Mineral Agent has formally approved a 12 month extension of the exclusive Option Agreement between the Crown Estates and Gold Mines of Wales (Operations) Ltd ("GMOW"). Stellar owns 49.9% of GMOW.
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GMOW currently holds an exploration licence covering an area of 120kmΒ² which contains the entire Dolgellau Gold Belt, including the historic Clogau Gold mine.
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GMOW is now employing 4 local consultants and has a highly experienced technical team assisted by SRK Cardiff.
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David Lenigas, Stellar Resources Executive Chairman, commented:
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"GMOW will continue the exhaustive work of re-opening the extensive underground workings and assessing the best method of potentially commencing trial mining operations in the district."
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"Some of the underground areas opening up during 2013, as previously announced, have the potential to form the basis for a phased re-start of commercial mining operations at these famous mines and we will be working closely with our partners and local authorities on how best to achieve this. "
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Enquiries:
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Stellar Resources plc David Lenigas, Executive Chairman Donald Strang, Finance Director Β | Β +44 (0) 20 7440 0640 |
Cairn Financial Advisers LLP James Caithie / Paul Trendell Β Public Relations: Square 1 Consulting Ltd David Bick/Mark Longson | Β +44 (0) 20 7148 7900 Β Β +44 (0) 20 7929 5599 Β Β Β |
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