GME Resources Ltd

Published : April 12th, 2016

First Ore Parcel Processed from Devon Gold Mine

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Keywords :   Evaluation | Gold Mine | Gold Mines | Mines | Recovery |

First Ore Parcel Processed from Devon Gold Mine

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Devon Gold Mine Update First Ore Parcel Processed



GME Resources Limited ("GME" or "the Company") is pleased to advise that the first batch of ore mined from the Devon Gold project has been processed at Saracen Gold Mines Carosue Dam plant site. The batch, comprising 6,400 tonnes mined from the north pit, was delayed for several weeks to due to ongoing rain events in the region that resulted in closure of haulage roads.


Head grade assaying from the belt sampling procedure and metallurgical test work to ascertain gold recovery is in progress.


Mining is now focused in the main pit and is progressing well. Pre stripping of waste to the depth of the trial pit (15 metres) is now complete and the main load is exposed. Ore production is scheduled to increase over the next few months. The mine is expected to produce approximately 63,000 tonnes of ore grading between 5 and 6 grams per tonne by June 30.


Further updates will be provided as the development progresses.



Devon Gold Mine - Main Pit looking north



JAMIE SULLIVAN MANAGING DIRECTOR

12 April 2016


Competent Person Statement The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Gunther who is a member of The Australasian Institute of Geoscientists. Mr Gunther is a Principal Consultant with Eureka Geological Services. Mr Gunther has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Gunther consents to the inclusion in the report of the matters based on information provided in the form and context in which it appears.


Forward Looking Statement This announcement contains statements related to our future business and financial performance and future events or developments involving GME Resources (GME) that may constitute forward-looking statements. These statements may be identified by words such as "potential", "exploitable", "proposed open pit", "evaluation", "expect," "future," "further," "operation, "development, "plan," "permitting", "approvals", "processing agreement" or words of similar meaning. Such statements are based on the current expectations and certain assumptions of GME management & consultants, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond GME's control, affect our operations, performance, business strategy and results and could cause the actual results, performance or achievements of GME to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. GME has concluded that it has a reasonable basis for providing the forward looking statements included in this announcement.



Figure 1 Devon Gold Project Location Plan

Figure 1

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GME Resources Ltd

PRODUCER
CODE : GME.AX
ISIN : AU000000GME7
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GME Resources is a nickel producing company based in Australia.

GME Resources produces nickel, cobalt in Australia, develops cobalt and nickel in Australia, and holds various exploration projects in Australia.

Its main assets in production are MURRIN NORTH, MURRIN MURRIN and HEPI in Australia, its main assets in development are MACEY HILL and MT KILKENNY in Australia and its main exploration properties are MERTONDALE, WAITE KAURI, EUCALYPTUS, NIWEST, WANBANNA, LINDEN, ILGARARI and LEONORA EAST in Australia.

GME Resources is listed in Australia and in Germany. Its market capitalisation is AU$ 60.3 millions as of today (US$ 43.5 millions, € 38.1 millions).

Its stock quote reached its lowest recent point on June 27, 2003 at AU$ 0.01, and its highest recent level on May 18, 2007 at AU$ 1.12.

GME Resources has 463 600 000 shares outstanding.

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