SOURCE: Britannia Mining Inc.

November 07, 2013 08:33 ET

Britannia Mining to Advance CEAR Transportation & Cargo Services Agreement

Formalizing Existing MOU Britannia Set to Further Develop USD $80 Million Logistics Arrangement

NEW YORK, NY--(Marketwired - Nov 7, 2013) - Britannia Mining, Inc. (BMIN or the Company) (OTC Pink: BMIN), the successor of a merger between UK based mining development company Britannia Mining Plc and U.S. based Micron Enviro Systems (Former Symbol: MSVS), announced today that the Company has begun taking steps to advance its MOU with Central East African Railways (CEAR) initially securing rail transportation and bulk cargo services for 720,000MT of Britannia's proposed Iron Ore extractions.

"It is extremely fortunate that our Nthale iron ore project is positioned 3Km (1.86 miles) from CEAR's rail lines," stated Kenneth Roberts, CEO of Britannia Mining. "Logistics is one of the biggest factors to consider in the mining sector. Without existing infrastructure, the movement of mineral products can become an extremely costly endeavor. Many companies need to assign millions of dollars to transportation feasibility. Britannia's strategy is ready and in position to move cargo from mine site to transportation lines, to distribution hubs and ports. This railway is quite literally in our backyard."

The Company anticipates developing its MOU, which currently affords Britannia an approximate annual hauling value of USD $80 - $100 million, transposing the understanding between the two companies, into a full and commercial agreement. Management expects the internal logistics of CEAR to increase significantly over the next year. This process is expected to further increase Britannia's ability to transport even greater volumes of iron ore, increasing its anticipated revenues. 

"The most pertinent aspect of this railway is its route through Malawi to its eventual Indian ocean destination," continued Roberts. "This rail line runs straight through our project to Nacala -- a natural deep water port. In consideration of Britannia developing its mining operation, the commercial strategy set forth by this management team to supply both local and international markets, coupled with the positioning of our primary ore body (Nthale Hill being the first target identified to date), provides us with a strategic and fundamental framework to develop significant income streams."

The entire logistics from freight loading to port storage takes approximately 18 hours. Britannia's ore will then be loaded onto cargo ships and delivered to its continuously expanding worldwide distribution outlets.

Roberts concluded, "We strongly believe that as the country of Malawi and the operations of CEAR continue to develop economically, having formalized the logistics agreement with the regional rail operator, will help us to build significant value and greater prosperity for Britannia and its shareholders for many years to come."

About Britannia Mining
Britannia Mining is an explorer and developer of mining projects targeting 100 Million Tons (MT) iron at the Nthale project. The company is developing a high grade iron ore project in Malawi and holds an Exclusive Prospecting License (EPL) for iron ore over 650 sq km at Nthale, Blantyre. From magnetic imaging studies that have been completed over 20 sq km, the company has located a number of ore bodies that indicate this area alone could yield upwards of 40 million tons iron ore. The company intends to mobilize a drilling program at Nthale Hill where upon completion and approval by a competent person, the data will provide a resource definition at this area.

Britannia Mining has also inherited the legacy projects (properties, claims, etc) of the former Micron Enviro Systems and now has added to its diversified portfolio a number of gold claims, leases and permits in the Yukon.

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