Nordgold’s Subsidiary Wins Gold Exploration and Mining Licence in Russia
Amsterdam, Netherlands, October 11, 2013 - Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified, pure-play gold producer strategically focused on emerging markets, is pleased to announce that JSC “Buryatzoloto”, in which the Company holds an 84.9% stake in the common shares, has won an auction for an exploration and mining licence in the Zhanokskaya gold area in the Republic of Buryatia in Russia.
The Zhanokskaya area is adjacent to Nordgold’s existing licence areas of Buryatzoloto. As of 1 January 2012, the area contained 20 tonnes of gold in P2 Russian classification resources and 40 tonnes in P3 resources.
Buryatzoloto will pay 11 million roubles (approximately US$0.3 million) for the licence.
Zhanokskaya tenement is a geologically promising area located next to our Irokinda mine. Its ore could in the future feed Irokinda processing plant, thus leveraging our existing infrastructure. We are very pleased to have acquired this licence. Nikolai ZelenskiChief Executive Officer of Nordgold