Orsu Metals Corporation
TSX : OSU
AIM : OSU

Orsu Metals Corporation

September 29, 2011 02:00 ET

Orsu Metals Corporation: Karchiga Definitive Feasibility Study Update-Results of 2011 Infill Drilling Programme

LONDON, UNITED KINGDOM--(Marketwire - Sept. 29, 2011) - Orsu Metals Corporation (TSX:OSU)(AIM:OSU) -

Karchiga infill drilling in the North East lode sulphide returned assay results, which, as anticipated, will result in an upgrade of the Inferred mineral resources to Indicated mineral resources and reserve pit optimization. In addition, the drill results from the Central lode oxide revealed greater than expected thickness, grade, consistency and extent of the transition zone, with secondary sulphide mineralization traceable for 1000 m. Highlights through the Central lode transition zone include:

  • 1.7m grading 7.43% Cu (Hole KGDD11-161);
  • 3.55m grading 6.61% Cu (Hole KGDD11-165);
  • 5.4m grading 5.00% Cu (Hole KGDD11-168);
  • 1.9m grading 33.00% Cu (Hole KGDD11-170);
  • 8.25m grading 2.66% Cu (Hole KGDD11-171);
  • 8.0m grading 3.90% Cu (Hole KGDD11-173);
  • 4.55m grading 1.75% Cu (Hole KGDD11-176);
  • 10.5m grading 3.94% Cu (Hole KGDD11-181);
  • 2.4m grading 23.60% Cu (Hole KGDD11-182);
  • 4.5m grading 6.43% Cu (Hole KGDD11-183);
  • 7.4m grading 4.18% Cu (Hole KGDD11-189);
  • 1.65m grading 5.81% Cu (Hole KGDD11-190);
  • 4.4m grading 4.86% Cu (Hole KGDD11-192);
  • 16.2m grading 7.22% Cu (Hole KGDD11-198);
  • 24.8m grading 2.86% Cu (Hole KGDD11-200).

Orsu Metals Corporation ("Orsu" or the "Company"), the London-based precious and base metals exploration and development company, is pleased to announce that, as part of the ongoing Definitive Feasibility Study ("DFS"), the Company has received all final assay results from its 2011 infill drilling programme in the Central lode oxide and North East lode sulphide at its Karchiga volcanogenic massive sulphide copper deposit in northeast Kazakhstan (the "Karchiga Deposit").

The Karchiga Deposit consists of the Central and North East lodes. The most recent National Instrument 43-101 ("NI 43-101") compliant (pit-constrained) mineral resource estimates for the Karchiga Deposit (see Company's press-release dated May 11, 2011) were focussed on the sulphide mineralization, which comprised 7.1Mt of mineralization grading 1.85% Cu for 131,860t of contained Cu in the Indicated Mineral Resource category and 1.2Mt of mineralization grading 1.68% Cu for 19,860t of contained Cu in the Inferred Mineral Resource category ("SRK 2011 May Estimates"). The Inferred Mineral Resource is restricted to the North East lode. The SRK 2011 May Estimates excluded oxide mineral resources in the Central lode, which were previously reported by the Company (see Company's press-release dated March 22, 2010).

The 2011 infill drilling programme (Fig.1) is expected to upgrade the Inferred Mineral Resources in the North East lode sulphide into Indicated Mineral Resources, achieving at least 60 by 60 m drilling density with inclusion of previous drilling, and to include the Central lode oxide into the ongoing DFS, achieving approximately 30 by 30 m drilling density.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/osu0929fig1.pdf.

Central lode oxide

In the Company's 22 March 2010 announcement relating to the Karchiga Deposit, Orsu reported that the Central lode oxide had a total indicated mineral resource estimate of 0.93 Mt (0.5% Cu cutoff) grading 1.39% Cu and containing 12,868t of copper (see the Company's press release dated March 22, 2010). The works conducted prior to the 2011 infill drilling programme identified a 1 to 2 m thick transition zone of secondary sulphides (with chalcocite, covellite and native copper), located between the primary sulphide (chalcopyrite, pyrrhotite, pyrite) and oxide (malachite, chrysocolla, native copper) mineralization (Fig. 2).

Due to its insignificant thickness, the transition zone was not modelled as a separate mineralized body in previous mineral resource estimates for the Karchiga Deposit. Based on the distribution of the >50% acid soluble copper, the top part of the transition zone was included into oxide mineralization, whereas the bottom portion was estimated as part of the sulphide mineralization. Additionally, the results of the most recent metallurgical test work announced by the Company (see the Company's press-release dated April 28, 2011) indicated that acid leaching of a blend of oxide and transitional secondary sulphide achieved 68% Cu recovery. The Indicated Mineral Resource estimates of the Central lode oxide may justify a heap leaching operation during the first 3 to 4 years of operation, which warrants inclusion of the oxide material into the ongoing DFS in order to extract the potential economic value from the oxide mineralization.

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/osu0929fig2.pdf.

The 2011 infill drilling in the Central lode oxide revealed better than expected continuity and much greater thickness and grade of the transition zone than was previously estimated (Table 1 in Exhibit A). The transition zone in the Central lode can be traced for 1000 m, varying in width from 30 to 50 m. The Company estimates the average thickness to be between 3 to 5 m or greater. In addition, the assays show presence of consistent high grade (4-5% Cu) mineralization in the transition zone, with several assays returning high grade values in the range of 7.22% to 33% Cu per relevant intervals (Table 1 in Exhibit A).

North East lode

Assays on samples collected from the North East lode sulphide Infill drill core returned results, which can be seen in Table 2 in Exhibit A. As anticipated by Orsu, the modeling of the North East lode will result in an upgrade of mineralization from the Inferred to Indicated mineral resource categories, as well as will be used for reserve pit optimization.

QAQC

One thousand two hundred and one samples, including 103 standards, 64 duplicates, and 54 blanks, were prepared from the intervals hosting massive and disseminated sulphide as well as secondary sulphide and oxide mineralization in the two lodes, consisting of 694 oxide and 507 sulphide samples. All samples were submitted and assayed in the VNIITsvetMet laboratory in Ust-Kamenogorsk, Kazakhstan. The laboratory is part of VNIITsvetMet, a Kazakh Institute, which specialises in metallurgical studies for base metals and is independent of Orsu.

All sampling procedures and drill core logging were reviewed by competent persons from Orsu (under guidelines set out in NI 43-101) ensuring samples are taken and results from the laboratory are checked in line with NI 43-101 guidelines. A stringent QA/QC programme has been put in place to satisfy NI 43-101 and JORC requirements. Core samples have been collected continuously from the visually identifiable intervals mineralized with massive and/or disseminated sulphides and oxide material, including at least 5 m of host rock above and below such intervals. Fifty four blank samples have been inserted every 17th sample, followed by standards. Copper oxide and sulphide standards have been inserted, on average, every 18th and 19th sample within the sample number sequence for the drill core. Assay duplicate samples were inserted approximately every 20th sample selected from quarter core on a random basis from both mineralized and unmineralized intervals, and usually inserted after the standards. All high grade assays have been reassayed as duplicates to ensure additional quality control of assaying. In addition, gold standards were inserted every 50th sample.

COO and Director of Exploration of Orsu, Dr Alexander Yakubchuk commented:

"We are pleased to receive such excellent results from our 2011 infill drilling programme as part of the ongoing DFS. Modeling of the new assay data received is currently underway and we expect to have updated and upgraded NI 43-101 compliant mineral resource estimates completed by the end of October 2011. The new results indicate the possibility of modeling the transition zone as a separate high grade body of mineralization within the Central lode at Karchiga. Our metallurgical test work indicated that copper from the secondary sulphide mineralization in the transition zone can be recovered both via acid leaching and a flotation processes. The Company expects a decision on which part of the secondary sulphide should be included into potential heap leach or flotation circuits to be made upon completion of the new mineral resource modeling and mineral reserve optimization to be completed in November 2011 by the Company's lead DFS consultant SRK Consulting (UK) Limited. In any scenario, the position of the high grade transition zone within 10m to 20m depth from the surface will allow access to it during early stages of mining operation which could further improve the economics and payback period of the Karchiga operation."

Exhibit A.

Table 1. Summary of all drill intercepts in the Central lode,
showing average copper grades per intercept at 0.1% Cu cutoff.
Hole ID
Azimuth

Dip
End of
hole,
m
From To Drilled
width,
m
Cu,
%

Comment
KGDD11-153 240 -65 25.0 11.8 19.25 7.45 0.38 Oxide
KGDD11-154 240 -65 25.0 13.4 24.1 10.7 0.41 Oxide
KGDD11-155 0 -90 30.2 3.0 17.1 14.06 0.68 Total
incl 3.0 14.65 11.61 0.54 Oxide
and 14.65 17.1 2.45 1.37 Transition
KGDD11-156 240 -75 43.4 9.6 35.5 25.9 0.52 Total
incl 9.6 15.8 6.2 0.5 Oxide
and 15.8 18.0 2.2 1.84 Transition
and 18.0 35.5 17.5 0.36 Oxide
KGDD11-157 251 -69 40.0 29.4 29.9 0.5 0.75 Sulphide
and 33.6 34.5 0.9 0.89 Transition
and 34.5 36.36 1.86 0.74 Sulphide
KGDD11-158 250 -65 30.0 22.2 30.0 7.8 0.36 Oxide
KGDD11-159 245 -65 40.0 26.65 29.8 3.15 1.08 Transition
and 33.0 36.3 3.3 0.31 Sulphide
KGDD11-160 240 -65 20.0 9.5 15.8 6.3 0.19 Oxide
KGDD11-161 250 -64 45.0 29.0 40.8 11.8 1.27 Total
incl 29.0 29.95 0.95 0.45 Oxide
and 29.95 31.65 1.70 7.43 Transition
and 31.65 40.8 9.15 0.22 Sulphide
KGDD11-162 235 -65 20.0 1.7 12.0 10.3 0.26 Oxide
KGDD11-163 247 -65 35.0 26.12 35.10 8.98 0.26 Oxide
KGDD11-164 247 -63 63.8 47.9 49.0 1.1 0.86 Transition
and 51.0 53.4 2.4 0.4 Transition
KGDD11-165 244 -65 45.0 32.15 41.1 8.95 2.91 Total
incl 32.15 36.8 4.65 1.59 Oxide
and 36.8 40.35 3.55 6.61 Transition
and 40.35 41.1 0.75 1.45 Sulphide
KGDD11-166 248 -64 50.0 34.10 35.30 0.8 1.39 Sulphide
and 37.7 50.0 12.3 1.30 Sulphide
incl 37.7 39.3 1.6 7.7
KGDD11-167 240 -65 35.5 10.7 25.05 14.35 0.26 Total
incl 10.7 23.0 12.3 0.3 Oxide
and 23.0 25.05 2.05 0.43 Sulphide
KGDD11-168 241 -68 40.6 14.3 34.2 19.9 1.69 Total
incl 14.3 21.4 7.1 0.51 Oxide
and 21.4 26.8 5.4 5.00 Transition
and 26.8 34.2 7.6 0.41 Sulphide
KGDD11-169 0 -89 35.0 6.0 13.6 7.6 0.61 Oxide
and 16.0 17.9 1.9 0.74 Oxide
KGDD11-170 239 -65 35.8 13.3 29.2 16.9 4.64 Total
incl 13.3 21.6 8.3 8.24 Oxide
incl 16.2 18.2 1.9 33.0 Transition
and 21.6 29.2 8.6 0.71 Sulphide
KGDD11-171 238 -64 40 12.5 34.7 22.2 1.48 Total
incl 12.5 17.15 4.65 0.28 Oxide
and 17.15 25.4 8.25 2.66 Transition
and 25.4 34.7 9.3 0.6 Sulphide
KGDD11-172 242 -65 32.5 2.2 30.5 28.3 0.78 Total
incl 2.2 25.2 23 0.77 Oxide
and 25.2 30.5 5.3 0.85 Transition
KGDD11-173 243 -65 52.6 0.0 41.0 41 1.04 Total
incl 0.0 22.0 22 0.22 Oxide
and 22.0 30.0 8 3.9 Transition
incl 22.0 26.6 4.6 4.86 Transition
and 30.0 41.0 11 0.44 Sulphide
KGDD11-174 245 -70 60.2 3.2 10.6 7.4 0.53 Oxide
and 10.6 11.3 1.3 2.21 Transition
and 11.3 20.2 8.9 0.61 Sulphide
and 27.2 30.2 3 1.12 Sulphide
and 42.2 43.2 1 0.99 Sulphide
and 47.6 56.5 8.9 0.61 Sulphide
KGDD11-175 234 -63 46.3 4.0 22.5 18.5 0.26 Oxide
and 28.5 31.4 2.9 0.14 Oxide
and 31.4 33.5 2.1 1.42 Transition
KGDD11-176 243 -64 28.2 3.1 22.0 18.9 1.32 Total
incl 3.1 17.45 14.35 1.19 Oxide
and 17.45 22.0 4.55 1.75 Transition
KGDD11-177 228 -74 54.65 32.0 48.4 16.4 0.66 Total
incl 32.0 38.0 6 0.11 Oxide
and 38.0 48.4 10.4 0.97 Sulphide
incl 40.0 41.65 1.65 3.04
KGDD11-178 240 -69 51.9 32.0 43.0 11 1.57 Sulphide
incl 34.1 37.2 3.1 4.57
and 47.2 49.7 2.5 0.45 Sulphide
KGDD11-179 239 -63 56.35 20.8 38.2 17.4 1.87 Total
incl 20.8 22.25 1.45 3.07 Transition
and 22.25 29.8 7.55 0.44 Oxide
and 29.8 38.2 8.4 2.93 Sulphide
and 40.45 45.85 5.4 0.85 Sulphide
KGDD11-180 0 -90 35.65 1.6 17.3 15.7 0.38 Oxide
KGDD11-181 0 -90 38.0 0.0 32.1 32.1 1.69 Total
incl 0.0 20.0 20 0.54 Oxide
and 20.0 30.5 10.5 3.94 Transition
and 30.5 32.1 1.6 1.38 Sulphide
and 34.0 38.0 4 0.15 Sulphide
KGDD11-182 0 -90 38.0 7.6 29.55 21.95 1.73 Oxide
incl 9.6 12.0 2.4 23.6 Transition
KGDD11-183 0 -90 31.3 18.0 29.0 11 3.01 Oxide
incl 20.5 25.0 4.5 6.43 Transition
KGDD11-185 240 -64 30.3 2 15.5 13.5 0.68 Oxide
KGDD11-186 243 -70 32.6 4.25 13.35 9.1 1.09 Oxide
and 22.0 31.0 9 0.9 Sulphide
KGDD11-187 0 -90 46.55 0 16.9 16.9 0.71 Total
incl 0 14.5 14.5 0.83 Oxide
and 14.5 16.9 2.4 3.19 Sulphide
KGDD11-189 242 -65 21.5 0.5 11.0 10.5 0.77 Oxide
and 11.0 18.4 7.4 4.18 Transition
and 18.4 21.5 3.1 0.49 Oxide
KGDD11-190 244 -65 41.1 31.4 38.7 7.3 0.64 Total
incl 31.4 34.35 2.95 0.29 Oxide
and 34.35 36.0 1.65 5.81 Transition
and 36.0 38.7 2.7 1.4 Sulphide
KGDD11-191 240 -60 26.1 13.5 26.1 12.6 0.53 Total
incl 13.5 23.0 9.5 0.68 Oxide
and 23.0 24.0 1 3.05 Transition
and 24.0 26.1 2.1 0.11 Sulphide
KGDD11-192 239 -55 45.0 25.4 33.6 8.2 2.74 Total
incl 25.4 27.4 2 0.31 Oxide
and 27.4 32.8 4.4 4.86 Transition
and 32.8 33.6 1.8 1.14 Sulphide
KGDD11-193 245 -70 45.7 41.15 45.7 4.55 2.47 Sulphide
KGDD11-195 240 -66 30.3 7.05 11.1 3.05 0.31 Oxide
KGDD11-196 240 -65 18.6 11.2 18.3 7.1 0.58 Oxide
KGDD11-197 240 -55 30.4 No mineralization
KGDD11-198 240 -70 51.7 32.4 51.7 19.3 6.27 Total
incl 32.4 48.6 16.2 7.22 Transition
incl 32.4 35.8 3.4 8.27
incl 42.7 44.9 2.2 27.02
and 48.6 51.7 3.1 1.28 Sulphide
KGDD11-200 240 -65 43.3 12.6 43.5 30.9 2.57 Total
incl 12.6 18.7 6.1 1.41 Oxide
and 18.7 43.5 24.8 2.86 Transition
incl 18.7 29.8 11.1 5.33
KGDD11-201 246 -70 50.0 9.1 21.85 12.75 0.87
incl 9.1 14.75 5.65 0.49 Oxide
and 14.75 17.85 3.1 1.65 Transition
and 17.85 21.85 4.0 0.80 Sulphide
and 25.85 31.1 6.25 0.84 Sulphide
and 36.88 40.0 3.12 4.73 Sulphide
and 46.77 50.0 3.23 0.73 Sulphide
KGDD11-203 243 -65 50.6 26.5 44.45 17.95 1.3 Sulphide
# Estimated true widths vary from 70% to 100% of drilled width


Table 2. Summary of all drill intercepts in the North East lode sulphide,
showing average copper grades per intercept at 0.1% Cu cutoff.
Hole ID
Azimuth

Dip
End of
hole,
m
From To Drilled
width,
m
Cu,
%

Comment
KGDD11-184 220 -60 135.0 108.9 112.0 3.1 1.26
KGDD11-188 228.6 52.4 133.8 116.1 119.0 2.9 1.8
KGDD11-194 222.5 -69.6 140.3 131.45 136.2 4.75 0.77
incl 134.2 135.2 1.0 2.35
KGDD11-199 233.8 -58.1 157.9 143.2 143.7 0.5 0.25
KGDD11-202 217.3 -70.7 120.0 93.05 95.6 2.55 2.81
and 98.7 101.0 2.3 0.94
KGDD11-204 223 -50 101.0 64.2 68.6 4.4 0.76
and 85.87 87.25 1.38 0.44
KGDD11-205 218.4 -59.5 100.3 92.65 93.25 1.6 0.42
KGDD11-206 228.3 -69.3 125 123.5 124.0 0.5 0.18
KGDD11-207 229 -56.2 100.0 94.9 95.95 1.05 0.72
KGDD11-209 220 -55 90.0 70.7 77.9 7.2 4.68
incl 76.75 77.9 1.15 22.14
and 81.0 83.8 2.8 0.19
KGDD11-210 224.7 -53.8 86.0 50.9 56.4 5.5 2.16
incl 51.9 53.6 1.7 4.86
and 63.9 64.4 0.5 0.58
KGDD11-211 225.2 -60.6 95.0 74.5 82.0 7.5 1.35
incl 77.4 78.7 1.3 6.07
and 87.0 89.6 2.6 1.09
KGDD11-212 226.2 -59.7 86.1 43.0 47.65 4.65 0.41
KGDD11-213 221.2 -59.4 83.1 57.7 59.0 1.3 4.20
incl 58.45 59.0 0.55 8.62
and 69.4 71.4 2.0 2.37
KGDD11-214 239 -65.6 44.4 37.8 40.5 2.7 2.70
and 42.4 43.4 1.0 0.13
KGDD11-215 267.8 -70.4 33.9 12.5 24.8 12.3 0.73
incl 15.9 16.5 0.6 4.79
KGDD11-216 43.4 -51 100.2 67.1 94.6 27.5 1.98
KGDD11-217 0 -90 103.1 52.0 58.5 6.5 0.69
KGDD11-218 0 -90 68.1 10.25 28.1 17.85 1.62
and 32.0 35.0 3.0 0.12
and 44.3 48.15 3.85 0.25
and 51.25 53.9 2.65 2.71
and 57.9 58.75 0.85 0.26
KGDD11-219 244 -65.6 65.4 56.6 58.5 1.9 2.99
and 59.5 60.5 1.0 0.13
KGDD11-200 235 -65.3 91.6 72.7 74.8 2.1 0.95
and 78.8 79.8 1.0 1.04
and 83.93 84.5 0.57 3.14
KGDD11-221 242.9 -65.7 75.0 No mineralization
KGDD11-222 0 -90 143.8 133.0 139.0 6 1.15
KGDD11-223 260 -55 50.0 13.0 16.2 3.2 0.58
and 18.0 19.8 1.8 0.94
incl 19.1 19.8 0.7 2.24
and 23.5 28.15 4.65 1.05
KGDD11-224 285 -55 90.0 53.6 55.1 1.5 0.39
and 63.0 68.1 5.1 1.56
and 80.0 80.7 0.7 2.12
# Estimated true widths vary from 70% to 100% of drilled width

GLOSSARY of technical terms:

Cu - a chemical symbol for copper.

Indicated Mineral Resource - that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

Inferred Mineral Resource – that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

Lode – a mineralised body.

Mineral Resource – a concentration or occurrence of natural, solid, inorganic or fossilized organic material in or on the Earth's crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge.

Oxide Mineral Resource – A Mineral Resource comprising mineralization formed by the chemical interaction of an element or elements with oxygen, usually affected by surface waters.

Sulphide – a chemical compound of a metal and sulphur.

Notes to editor:

  1. The oxide mineral resource estimates from the Company's March 22, 2010 press release referred to in this press release are contained in the technical report entitled "Updated Report on the Karchiga Property held by Orsu Metals Corporation, Kazakhstan", dated March 22, 2010 (the "March 22, 2010 Technical Report") and prepared by M L Owen, CGeol EurGeol FGS, and L S Carroll, MIMMM CGeol FGS, of Wardell Armstrong International Limited, which is available under the Company's profile on SEDAR (www.sedar.com). Each of the foregoing persons is a "qualified person", as such term is defined in NI 43-101, and independent of Orsu.
  1. Dr Mike Armitage, CEng, CGeol, Group Chairman and Corporate Consultant (Resource Geology) with SRK, Ms Tracey Laight, MSc, CGeol, FGS, Senior Consultant (Mining Geology) with SRK, both qualified persons as such term is defined in National Instrument 43-101 and independent of Orsu, have reviewed the contents of this press release. Ms Tracey Laight is the person responsible for the Mineral Resource estimates for Karchiga Project referred to above.
  1. Alexander Yakubchuk, PhD, Director of Exploration and Chief Operating Officer for Orsu and a "qualified person" as such term is defined in National Instrument 43-101 and for the purposes of the AIM Guidance Note for Mining, Oil & Gas Companies, has prepared and reviewed the contents of this press release and has verified the data disclosed in this press release (including any sampling, analytical and test data underlying the information), other than with respect to the mineral resource estimates noted above.

FORWARD-LOOKING INFORMATION

This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained (or referred to) in this press release includes, but may not be limited to: statements relating to mineral resource estimates; the Company's expectations with respect to updating and upgrading current mineral resource estimates and the timing thereof; statements relating to mining operations and anticipated recovery methods at the Karchiga Deposit; and estimates and expectations relating to the transition zone and the anticipated impact thereof on the economics and payback period on the Karchiga operations.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, risks normally incidental to exploration and development of mineral properties, uncertainties in the interpretation of drill and test results, the possibility that future exploration, development and/or mining results will not be consistent with expectations, uncertainty of mineral resources estimates and the assumptions used, and methodologies employed, in the SRK 2011 May Estimates and the March 22, 2010 Technical Report, the Company's inability to obtain, maintain, renew and/or extend required licences, permits, authorizations and/or approvals from the appropriate regulatory authorities and other risks relating to the regulatory framework in Kazakhstan, adverse changes in the political environment in Kazakhstan and the laws governing the Company, its subsidiaries and their respective business activities, adverse changes in commodities prices, as well as certain other risks set out in the Company's public documents, including its annual information form dated March 22, 2011, filed under the Company's profile on SEDAR at www.sedar.com.

The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the Company has made assumptions about: the Company's business, the economy and the mineral exploration industry in general; the parameters used in defining the pit optimization for the Karchiga Deposit; the Company's ability to raise any required additional financing, as needed; the regulatory framework in Kazakhstan with respect to, among other things, the Company's ability to obtain, maintain, renew and/or extend required permits, licences, authorizations and/or approvals from the appropriate regulatory authorities; the political environment in Kazakhstan; and the Company's ability to continue to obtain qualified staff and equipment in a timely and cost-efficient manner to meet the Company's demand. The Company has also assumed that no unusual geological or technical problems occur, plant and equipment work as anticipated and no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

The mineral resource figures contained and/or referred to in this press release are estimates only and no assurances can be given that the indicated levels of minerals will be produced. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While the Company believes that the mineral resource estimates contained and referenced herein are well established, by their nature, mineral resource estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such mineral resource estimates are inaccurate or are reduced in the future, this could have a material adverse impact on the Company. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Inferred mineral resources are estimated on limited information not sufficient to verify geological and grade continuity or to allow technical and economic parameters to be applied. Inferred mineral resources are too speculative geologically to have economic considerations applied to them to enable them to be categorized as mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that mineral resources can be upgraded to mineral reserves through continued exploration.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

Contact Information

  • Orsu Metals Corporation
    Alexander Yakubchuk
    COO
    +44 (0) 20 7518 3999
    +44 (0)20 7518 3998 (FAX)
    info@orsumetals.com
    www.orsumetals.com

    Canaccord Genuity Limited
    Ryan Gaffney / Andrew Chubb
    +44 (0) 20 7050 6500

    Vanguard Shareholder Solutions
    +1 604 608 0824