Eurasia Mining PLC

Published : October 22nd, 2014

Award of Discovery Certificate

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Keywords :   Gold | Ireland | London | Platinum | Russia |

Award of Discovery Certificate



Award of Discovery Certificate

Eurasia Mining plc

("Eurasia" or the "Company")

Eurasia Mining plc is pleased to announce that it has been granted a Discovery Certificate for a 21.5km2 area of alluvial platinum reserves on the Tylai-Kosvinsky Placer at its West Kytlim exploration licence in the Urals, Russia. The Discovery Certificate is awarded for a new discovery of platinum (with minor gold) and gives Eurasia exclusive rights to apply for and obtain a production licence.

Eurasia has been developing its West Kytlim project since 2003. In 2008, Eurasia was granted a Discovery Certificate that covered a single area of reserves near the original discovery site at Bolshaya Sosnovka. A mining licence, if issued for that area, would have covered reserves sufficient only for a single site operation, despite the recognised potential for further reserves within the known Placer. For this reason, the Company decided to continue exploration and since 2008 has considerably increased reserves at West Kytlim, allowing for multiple site production and an extended life of mine.

The Mining Licence application is fully prepared and is now being lodged. It contains a description of financing arrangements and a demonstration of the capacity of the Company and contracted technical specialists to plan and implement the necessary works.

Commenting on the news, Christian Schaffalitzky said: "We are delighted that we have received this award as it provides us with a secure base on which to build our mine. In receiving this certificate, it allows the company to attribute value to the project for the first time. We look forward to advancing the permitting over the coming months and plan to keep shareholders updated on progress.  We are still hopeful that we can break ground next summer".

Contacts:

For more information please contact:

Eurasia Mining:

Christian Schaffalitzky / Michael de Villiers

Tel: +44 (0) 207 932 0418

Katy Mitchell, WH Ireland Limited

Tel: +44 (0) 161 832 2174


This information is provided by RNS
The company news service from the London Stock Exchange
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Data and Statistics for these countries : Ireland | Russia | All
Gold and Silver Prices for these countries : Ireland | Russia | All

Eurasia Mining PLC

PRODUCER
CODE : EUA.L
ISIN : GB0003230421
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Eurasia M is a nickel and palladium producing company based in United kingdom.

Eurasia M produces nickel, palladium, cobalt, copper, gold, ilmenite, platinum, rhodium, titanium and vanadium in Russia.

Its main assets in production are KOLA PENINSULA and KOLA PENINSULA in Russia and its main exploration properties are URALS PLATINUM PROJECT and URALS BEDROCK in Russia.

Eurasia M is listed in United Kingdom. Its market capitalisation is GBX 2.8 billions as of today (US$ 3.3 billions, € 2.9 billions).

Its stock quote reached its highest recent level on May 15, 1998 at GBX 95.00, and its lowest recent point on November 24, 2017 at GBX 0.00.

Eurasia M has 1 858 369 208 shares outstanding.

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Corporate news of Eurasia Mining PLC
8/1/2016Loan Agreement and Issue of Equity
7/28/2016Platinum refining and sales agreements
7/27/2016West Kytlim Mining operation update - July 2016
7/14/2016Audited results for the year ended 31 December 2015
7/13/2016Annual Results
7/4/2016Semenovsky Tailings Project & receipt of assays
6/30/2016Result of AGM
6/21/2016Mining start-up at West Kytlim
6/7/2016Annual Results for the 12 months ended 31 Dec 2015
5/31/2016Issue of Equity and Repayment of Debt
5/25/2016Contract Mining at West Kytlim
5/12/2016Issue of Equity
4/14/2015Business Milestone & Strategic Plan Update
11/27/2014Mining Licence Update
10/22/2014Award of Discovery Certificate
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