Bezant Resources Plc.

Published : November 06th, 2007

Earns additional 23% in Tanzanian project

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Good morning Ladies and Gentlemen, I would like to draw your attention to Bezant Resources (BZT) which is currently up 6.5p or 7% at 96p after it confirmed earning a further 23% in the Mkurumu gold project in Tanzania to bring its stake up to 46%. This additional stake brings its holding up to the same level as its JV partner, a subsidiary of AngloGold Ashanti. The remaining 8% is held by Tanzanian locals. This news also shows the company's commitment to the project where they believe they have discovered a new gold province in Tanzania, currently the third largest gold producer in Africa.

Best regards

Gary Middleton

St Swithins PR Ltd

Bezant Resources PLC
06 November 2007


6 November 2007

Bezant Resources Plc
('Bezant' or the 'Company')

Bezant's subsidiary earns an additional 23 per cent. interest in its
Tanzania project

Highlights:

• Anglo Tanzania Gold Limited ('ATGL'), a wholly owned subsidiary of Bezant,
  earns an additional 23 per cent. of the Mkurumu project

• ATGL now holds 46 per cent. of the Mkurumu project, a subsidiary of AngloGold
  Ashanti holds 46 per cent. and Tanzanian locals hold the remaining 8 per cent.

Bezant Resources plc (AIM: BZT), the AIM listed exploration and development
company with gold and copper assets in  Tanzania and the Philippines, is pleased
to announce that its wholly owned subsidiary, ATGL, now holds 46 per cent. of
the Mkurumu project in Tanzania. ATGL has for the last year accelerated its
drilling and exploration programme on the  Mkurumu project and has received
confirmation from its joint venture partner in Tanzania, a subsidiary of
AngloGold  Ashanti, that it has earned a further 23 per cent. interest in the
project.

As a consequence, ATGL now holds an equal  interest to AngloGold Ashanti with
the remaining 8 per cent. held by  Tanzanian locals.

Clive Sinclair-Poulton, CEO of Bezant, said: 'We continue to be excited by the
potential at Mkurumu and have chosen to accelerate our investment in the project
accordingly. The corresponding increase in our project interest to 46 per cent.
gives us parity with AngloGold Ashanti in the project and therefore represents
an important strategic stake as well as giving Bezant greater exposure to the
upside potential from this asset. Our 2007/2008 work programme will see the
Company continuing its strategy of seeking to generate increased value in both
our Tanzanian and Filipino assets.'
Notes for editors:

Tanzania is the third largest producer of gold in Africa and is increasing its
production on an annual basis.

The majority of gold production is centred around the west of the country,
whereas Bezant is concentrating its efforts  in the under explored east, an area
of great potential.

Tanzania has been independent since 1964 and is in the enviable position of
having consistent political stability,  holding regular democratic multi-party
elections. Western style mining laws, combined with good infrastructure, skill
levels and a supportive government have attracted a number of world class mining
companies.

For further information, please contact:

Clive Sinclair-Poulton, Chief Executive
Bezant Resources Plc
Email: clive@bezantresources.com
Tel: +353 (0) 85 739 2674

James Harris
Matthew Chandler
Strand Partners Limited
Tel: +44 (0) 20 7409 3494

Gary Middleton
St Swithins PR Limited
Email: gary@swithins.com

Tel: +44 (0) 7951 603 289

 
Kind Regards,
 
Gary Middleton
St Swithins PR Ltd
111 Cannon Street
London
EC4N 5AR
tel// +44 (0)207 929 4391
mobile// +44 (0)7951 603 289
email// gary@swithins.com
 
 
 
Data and Statistics for these countries : Philippines | Tanzania | All
Gold and Silver Prices for these countries : Philippines | Tanzania | All

Bezant Resources Plc.

EXPLORATION STAGE
CODE : BZT.L
ISIN : GB00B1CKQD97
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Bezant Resources is a gold and copper exploration company based in United kingdom.

Its main exploration properties are MKURUMU in Tanzania and MANKAYAN in Philippines.

Bezant Resources is listed in United Kingdom. Its market capitalisation is GBX 14.9 millions as of today (US$ 17.4 millions, € 16.3 millions).

Its stock quote reached its highest recent level on November 09, 2007 at GBX 99.00, and its lowest recent point on April 25, 2024 at GBX 0.02.

Bezant Resources has 745 606 371 shares outstanding.

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11/21/2007Bezant's Filipino neighbour sells 20% stake to Chinese for $...
11/6/2007Earns additional 23% in Tanzanian project
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