Shearwater Regulatory News (SWG)

2 Nov 2007 10:49

Aurum Mining PLC02 November 2007 For immediate release 2 November 2007 AURUM MINING PLC ("Aurum" or "the Company") Result of AGM and AGM Statement Aurum Mining plc (AIM: AUR), the gold-mining company focussed on the FormerSoviet Union (FSU) and whose principal asset is the Andash Project in the KyrgyzRepublic, held its Annual General Meeting this morning at which all resolutionswere duly passed. Sean Finlay, Aurum Mining's Chairman, made the following comments: "As I reported in our preliminary results, the current financial year istransformational for Aurum and we remain on track to commence initial productionat Andash in the second half of calendar year 2008. Further exploration work isprogressing well at the Nakhodka and Tokhtonysay opportunities within the Andashlicence area, offering the potential to increase Aurum's reserves significantly. "As a reflection of our close working relationship with the Kyrgyz authorities,we have been granted an extension to the time period for the completion of thedetailed design work for the Andash mine. This extension, from the end ofNovember 2007 to the end of May 2008, increases our flexibility around thefinalisation of the mine design without impacting our anticipated start date forgold production. "The continued strength of metal prices greatly enhances the economics of theAndash project and, given our progress to date, we look forward to the futurewith considerable confidence." Aurum's interim results for the six months to 30 September 2007 will beannounced on 10 December 2007 and will include a detailed operational update onprogress at Andash. For further information: Aurum Mining plc Tel: 020 7478 9050Mark Jones, Chief Executive OfficerChris Eadie, Chief Financial Officer Arbuthnot Securities Tel: 020 7012 2000John PriorJohn Toll Buchanan Communications Tel: 020 7466 5000Mark Court / Rebecca Skye Dietrich Notes to editors Aurum Mining, which joined the AIM market of the London Stock Exchange in May2004, is a mining company focussed on gold opportunities in the Former SovietUnion. Its principal asset is an exploration licence over the Andash gold andcopper project in the Kyrgyz Republic. A mining licence for Andash Zone 1 wasawarded by the Kyrgyz authorities in 2006. The feasibility study compiled byWardell Armstrong International, also in 2006, confirmed a measured andindicated resource base of 19.2 million tonnes at 1.1 grams per tonne of goldand 0.4% copper, which equates to 1.1 million ozs of gold and gold equivalent.Initial production at Andash Zone 1 is expected in the second half of 2008. TheAndash project also includes Zone 2 and Zone 3 along with Tokhtonysay, Nakhodkaand three other additional exploration areas. This information is provided by RNS The company news service from the London Stock Exchange