Arehada Mining Limited

Arehada Mining Limited

December 16, 2008 17:11 ET

Arehada Announces Bank Loan Payment Extension

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2008) - Arehada Mining Limited (TSX:AHD) ("Arehada") today announced that its wholly owned Chinese operating subsidiary, Arehada Mining Corporation, has obtained a three-month extension from the People's Bank of China for the November repayment. The principal amount of the bank loan was $16,254,000 as at September 30, 2008. The bank loan was established in November 2006 with a five year repayment term with repayment scheduled for November of each year. The repayment of approximately $3 million scheduled for November 20, 2008 has now been extended to February 20, 2009.

"As the company is currently in care and maintenance, we are pleased to receive the bank's co-operation during this difficult time," commented Mr. Steve Fan Wang, Chairman and CEO of Arehada. "We hope to resume operation when market conditions permit."

About Arehada Mining

Arehada Mining Limited is engaged in the exploration, development, extraction and production of zinc, lead and silver in Dongwuzhumuqinqi, located in Inner Mongolia, China. Arehada produces zinc and lead concentrates, which are then sold to smelters in China.

Arehada has completed construction of a zinc processing plant, to produce zinc calcine and sulphuric acid.

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