MDN Inc.
TSX : MDN

MDN Inc.

October 31, 2005 08:46 ET

MDN Northern Mining: Tulawaka Mine Produces 77,099 Ounces of Gold

MONTREAL, QUEBEC--(CCNMatthews - Oct. 31, 2005) - MDN Northern Mining (Minieres du Nord)(TSX:MDN) is pleased to announce that gold production from the Tulawaka Mine in Tanzania was 38,958 ounces of gold for the third quarter of 2005, to make a cumulative total since the start of production of 77,099 ounces of gold.

During the last quarter the plant facilities processed 136,271 tonnes of ore and had a gold recovery of 95.74%. Current total cash costs are US$ 276 per ounce of gold. A total of 66,335 ounces of gold were entirely sold in the spot market since start-up for gross revenues of US$ 28,258,710.

The Tulawaka Mine has now registered more than 3.5 million man-hours worked without a single lost-time accident.

Carlos Bertoni, MDN Northern Mining's CEO, stated: "The excellent performance of the Tulawaka Mine is taking place while we deliver the results of our exploration efforts in the region. The recent discovery of two new significant mineralized zones and the identification of other drilling targets could have a favorable impact on the nature and value of our Company."

The Tulawaka project is a joint-venture between MDN Northern Mining (30%) and Pangea Goldfields (70%), the project operator and a wholly owned indirect subsidiary of Barrick Gold Corporation. The information contained in this press release was provided by the project operator.

Contact Information

  • MDN Northern Mining
    Carlos H. Bertoni, M.Sc., P.Geo.
    CEO
    (514) 866-6500
    or
    MDN Northern Mining
    C. Timothy (Tim) Williams, Ph.D., C.Eng.
    COO
    (514) 866-6500
    or
    MDN Northern Mining
    Paul-A. Girard
    Chairman and V.-P., Corporate relations
    (514) 866-6500
    www.xnord.com
    info@xnord.com