Lero Gold Corporation

Lero Gold Corporation

November 26, 2007 10:13 ET

Lero Gold Corp. Continues to Pursue Interested Parties for Tokhtazan Sale

LONDON, UNITED KINGDOM--(Marketwire - Nov. 26, 2007) - The Directors of Lero Gold Corp. ("Lero", or the "Company") (TSX VENTURE:LER), the base and precious metal exploration company, advise that the sale and purchase agreement (announced June 19, 2007) between Lero and a subsidiary of Delta Industrial B.V.I. for all of the issued and outstanding shares of its wholly-owned subsidiary, Tournon Finance Limited has expired.

The Company has retained the non-refundable deposit and is actively pursuing other interested parties.

Tournon is the 100% beneficial owner of Oriel in Kyrgyzstan LLP, which holds the exploration and mining licences for the Tokhtazan and Akdjol areas in western Kyrgyzstan.

Notes to Editors:

Lero Gold Corp. (TSX VENTURE:LER) is a base and precious metal exploration company led by a senior management team with extensive expertise in mineral exploration and advanced project management.

In July, 2006 Oriel Resources Plc completed its previously announced transfer and sale of its gold related assets into Lero Gold Corporation ('Lero') (formerly ELE Capital Corporation - 'ELE'). Lero resumed trading on TSX Venture Exchange (TSX-V) on Thursday July 27, 2006 under the trading symbol "LER".
Lero Gold is currently seeking and evaluating advanced exploration stage gold and base metal projects in Kazakhstan, Kyrgyzstan and Russia. The Company is currently exploring two advanced staged gold deposits in the Tien Shan gold belt in the Kyrgyz Republic. For avoidance of confusion;

- The Taldybulak copper gold porphyry is a separate deposit from the Taldybulak gold deposit previously owned by Central Asia Gold Limited.

The Company is aggressively adding high quality properties to its portfolios in Kyrgyzstan, Kazakhstan and Russia. The Company is well-funded and strategically positioned to fully participate in the current favourable investment climate through solid technical advances, unique in-country expertise, and timely business initiatives. With senior management and excellent technical expertise, Lero Gold intends to aggressively explore and develop a portfolio of new projects and targets.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Lero Gold Corporation
    Nick Clarke
    President & CEO
    +44 (0) 20 7514 0590
    Lero Gold Corporation
    Darryl Yea
    Non-Executive Chairman
    (604) 699-2458
    Lero Gold Corporation
    Gavin Dallas
    Marketing and PR
    +44 (0) 20 7514 0590
    Email: info@lerogold.com
    Website: www.lerogold.com
    Bankside Consultants
    Michael Padley / Michael Spriggs
    +44 (0) 20 7367 8888