Teknomining Plc

March 03, 2011 09:42 ET

Correction to Geophysical Survey Results announcement made on 1st March 2011

Teknomining Plc

Correction to Geophysical Survey Results announcement made on 1st March 2011

Dublin 3rd March 2011

The Directors of Teknomining Plc ("Teknomining" or "the Company") wish to advise the market that there was
a computational error in the estimate of possible copper reserve specified in the announcement previously
issued by the company on 1st March.

The Geophysical Ground Magnetic and Induced Polarisation (I.P) Survey report dated January 2011 published
at the same time as the announcement states  "the size of the Eastern and Western massive sulphide
anomalies which may be indicative of copper reserve being at 26,250,000 million M3". The examples of
estimates given at 1% and 2% grade of copper in the announcement should have read 2.352 and 4.704 million
tonnes of copper and not 23.52 million tonnes and 47.04 million tonnes of copper respectively .

These values are given as estimates and the computational error does not impact on the content of the
report as published.

The full copy of the corrected announcement therefore should read as follows:-

The Directors of Teknomining Plc ("Teknomining" or "the Company") are pleased to provide the following
update with regard to current activities.

Teknomining PLC (PLUS-SX: TEKP), the Dublin-headquartered mining and exploration company announced on 7th
January 2011 that it had secured a full operation licence over its second area of interest (reference
number 200806366) covering an area of 3.65 sq.km in Diyarbakir region, south eastern Turkey. This followed
the granting of a full operation licence over its first area of interest (reference number 200800729) in
July 2010. The term of the operation licence is for an initial period of ten years (2020) with an automatic
right to extend this operation period for a further period of at least fifty years, subject to Governmental

In accordance with the planned exploration programme set out on Admission to PLUS-quoted, Teknomining has
also now completed a Geophysical Ground Magnetic and Induced Polarisation (I.P) Survey ("the Survey") in
this operational licence area (reference number 200806366). Previous grab samples taken from this area,
independently analysed by OMAC laboratories indicated that high grade copper, magnetite, chromium and low
grades of rare minerals such as molybdenum, nickel, cobalt and titanium were present.

The receipt of the operation licence over this significant area (reference number 200806366) in conjunction
with the results of the Geophysical Ground Magnetic and Induced Polarisation (I.P) surveys carried out on
this and the company's other licence area (reference number 200800729) enables the company to move to a
targeted drilling campaign which is expected to commence toward the end of the first quarter of 2011.

Results of the Geophysical Ground Magnetic and I.P survey carried out on licence area reference number
200800729 were released on June 16th 2010 and on November 3rd 2010 respectively and copies of the full
reports are available on the Teknomining website.

The Geophysical Ground Magnetic and I.P survey on licence area (reference number 200806366) was carried out
over a number of months in late 2010 and was completed in January 2011 by CFT Engineering Ltd. A full copy
of the survey report is available under the company profile on the PLUS-quoted website and on the company

A brief summary of the reports for licence area (reference number 200806366) are as follows:-

1) The Induced Polarisation (I.P) Survey contained seven I.P profiles, which were between 2,500 meters and
1,400 meters long and had a spacing of 100 meters between each profile. The report confirms the possible
presence of massive sulphide type copper anomalies. The report states that for copper exploration,
Resistivity values should be low and IP values should be high. This is the case in all seven I.P profiles

 The potential sizes of deposits in two anomalies as highlighted on the report are set out   below:-

350 m Long x 350 m Wide x 100 m Deep = 12,250,000 million M3

        350 m Long x 400 m Wide x 100 m Deep = 14,000,000 million M3

     Total of possible Eastern and Western Anomalies = 26,250,000 million M3

   *Estimate at 1% grade of copper and copper @8.96 tonnes/M3 = 2.352 million tonnes copper.

   *Estimate at 2% grade of copper and copper @ 8.96 tonnes/M3 = 4.704 million tonnes copper.

2)  The Geophysical Ground Magnetic Survey indicated the presence of strong positive anomalies indicative
of magnetite's with significant potential reserves. The survey identified numerous anomalies, four
examples of which are given in the survey report and summarised as follows:-
     Deposit Number 1 = 250 M long x 100 M wide x 25 M deep = 625,000 M3 of potential ore body.
     Deposit Number 2 = 250 M long x 150 M wide x 25 M deep = 937,000 M3 of potential ore body.
     Deposit Number 3 = 100 M long x 200 M wide x 25 M deep = 500,000 M3 of potential ore body.
     Deposit Number 4 = 600 M long x 200 M wide x 25 M deep = 3,000,000 M3 of potential ore body.
     Total Deposit Number 1+2+3+4 = 5,062,000 M3 of potential ore body.
     5,062,000 M3 x 65% iron grade = 3,290,300 M3 iron
     3,290,300 M3 Iron @ 7.8 tonnes/M3 = 25,664,340 tonnes iron

The directors of the issuer accept responsibility for this announcement.

Contact Details
Teknomining Plc
Michael Holden, Managing Director
Mob. Ireland: +353 87 249 10 22
Mob. Turkey: +90 534 295 82 61
Email:  Teknomining@gmail.com

About Teknomining Plc:
Teknomining Plc is incorporated in the Republic of Ireland and has a 99.9% owned subsidiary, Teknomining
Madencilik Insaat Turizm Ithalat Ihracat Sanayi Ve Ticaret Limited Sirketi ("Teknomining Limited"), which
is incorporated in Turkey (together "the Group"). The Group had initially secured two exploration licences
covering an area of c.10.9km.sq and currently has upgraded these to two full operation licences. These
licences grant the Company certain rights to explore for and exploit "4th Group Minerals" as defined under
Turkish mining law. The Group's main focus is in the identification of iron-ore, non-metallic minerals such
as copper, gold, aluminium and chromium deposits.

Teknomining Plc has opened up a corporate office in Diyarbakir, and in mid-2011 it intends to open up
offices in the Technology Park within the region's Dicle University Campus, which may grant major tax
advantages for the Company.

About Diyarbakir, Southeastern Turkey:
Historically one of the earliest mentions of copper was from the Diyarbakir region in south-eastern Turkey
hence the name, 'Diyarbakir'means 'area of copper' with Bakir being the direct translation for copper.
Diyarbakir consistently ranks as one of the most geologically prospective and pro-mining legal
jurisdictions in Turkey. Crucially the region surrounding the two operation licence areas is equipped with
excellent infrastructure, such as roads, water and electrical services allowing easy access to the
project.  Diyarbakir has a flight time of one and a half hours from Istanbul.

About CFT Engineering:
CFT Engineering (CFT Muhendislik Ltd sti) who carried out our Geophysical Magnetic Survey and Induced
Polarisation (I.P) is a Turkish company based in Ankara.  CFT Eng Ltd specializes in carrying out
Geophysical Surveying for leading mining companies using state of the art equipment operated by their
highly qualified specialists.

Contact Information

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