Shearwater Regulatory News (SWG)

6 Jun 2006 08:12

Aurum Mining PLC06 June 2006 For immediate release 6 June 2006 AURUM MINING PLC ("Aurum" or "the Company") Submission of local feasibility study to Kyrgyz authorities Aurum Mining plc (AIM: AUR), the company formed to acquire gold and othermineral extraction projects in the Former Soviet Union (FSU), is pleased toannounce that its wholly owned subsidiary the Andash Mining Company hassubmitted a local feasibility study to the Kyrgyz government for the Andash goldand copper project in the Kyrgyz Republic. This feasibility study, which coverseconomic, mining, metallurgical, legal, environmental and social factors for theproject, has been completed for Zone 1 and is a key step in the application tothe Kyrgyz authorities for a Mining Licence for the Andash Project. The feasibility study was prepared by Ken-Too Design and Research Centre, theleading independent Kyrgyz mining consultancy. This study confirms the resourceestimates previously included in the State Register of the State Commission ofResources of the Kyrgyz Republic, which included 21.7 million tonnes of C1+C2reserves from Zone 1, amounting to gold and gold equivalent of more than 1.5million ozs. Aurum is also carrying out a Western feasibility study to a JORC resource, whichwill be completed in September this year. This feasibility study, which is beingprepared by Wardell Armstrong International, will form the basis of discussionsfor the project financing of the Andash mine, which will be an open pitconstruction with the potential for high production rates. It is expected that the construction of the mine will begin in early 2007 withproduction beginning towards the end of 2007. Mark Jones, Aurum Mining's Chief Executive, said: "The submission of the localfeasibility study marks a further important step in the Company's transitionfrom exploration to production. The local study forms the basis of ourapplication for a Mining Licence ahead of the start of commercial production inthe final quarter of 2007." For further information: Aurum Mining plc Tel: 020 7478 9050Mark Jones, Chief Executive Arbuthnot Securities Tel: 020 7012 2000Graham Swindells Buchanan Communications Tel: 020 7466 5000Mark Court/Amy Rajendran Notes to editors Aurum Mining joined the AIM market of the London Stock Exchange in May 2004 withthe strategy of seeking, evaluating and acquiring gold and other mineralextraction projects in the Former Soviet Union (FSU). In January 2005 theCompany completed its first acquisition, giving the Company an explorationlicence over the Andash gold and copper project in the Kyrgyz Republic. In itsState Register, the State Commission of Resources of the Kyrgyz Republic hasincluded 21.7 million tonnes of C1 and C2 reserves from the project, amountingto gold and gold equivalent of more than 1.5 million ozs. This information is provided by RNS The company news service from the London Stock Exchange