Location and Description of the Project

URYAKH

Uryakh is an advanced exploration project located in the Irkutsk region of Russia, 60 km from the Baikal-Amur Mainline railway.

The Uryakh gold licence lies in the ‘Lenskaya gold-bearing province’ of the northern Baikal mineralised belt.

The 2008-2014 exploration comprised air and ground based geophysical surveys, geochemical prospecting, drilling, trenching and geological mapping. Positive metallurgical results were obtained from preliminary and limited testwork data. Exploration results imply the potential for a large-scale open-pit and/or underground mineable resource.

A contract has been signed with SRK Denver to complete a pre-feasibility study for Uryakh that is expected to be delivered in Q4 2018.

Based on current estimates production at Uryakh could begin as early as 2022.

Mineral Resources Summary (31 December 2017)

Category Ore (Kt) Grade (g/t) Au (Koz)
Indicated Open Pit 3,0584.07400
Indicated Underground 8,712 3.71 1,039
MEASURED+INDICATED 11,770 3.80 1,439
Inferred Open Pit 304 2.13 21
Inferred Underground 2,483 3.86308
TOTAL (M+I+I) 14,557 3.78 1,768


For more information, please see Mineral Resources and Ore Reserves Press Release

CONTACTS

tel.+7 495 644 44 73

Irina Dormidontova

RECRUITMENT MANAGER
tel.+7 495 644 44 73

OLEG BAZALEEV

HEAD OF SUSTAINABLE DEVELOPMENT PROJECTS
tel.+7 495 644 4473 #707 6746