TSG.L Regulatory News (TSG)

26 Jun 2007 07:01

Trans-Siberian Gold PLC26 June 2007 Trans-Siberian Gold plc Sale of Krasnoyarsk properties completed LONDON: 26 June 2007 - Trans-Siberian Gold plc ("TSG" or "the Company") (TSG.L)is pleased to report that the sale of its Krasnoyarsk based subsidiaries, OOOGRK Amikan ("Amikan") and OOO AS Angarskaya Proizvodstvennaya Kompaniya ("ASAPK"), to AngloGold Ashanti Limited ("AGA") for a cash consideration of US$40million has been completed. AGA paid the first US$10 million of the sale proceeds in two tranches in Marchand May 2007. TSG has now received the balance of the sale proceeds, US$30million, together with US$505,000 as reimbursement of the costs of the airbornegeophysical survey undertaken at the Veduga and Bogunay properties in 2006.These funds will be applied principally to the development of the Company'sAsacha project and to TSG's general working capital requirements. EndsContacts: TSGSimon Olsen +44 (0) 7770 484 965 Seymour PierceJohn Depasquale +44 (0) 20 7107 8010 BanksideOliver Winters +44 (0) 20 7367 8874 This information is provided by RNS The company news service from the London Stock Exchange