Orsu Metals Corporation

Orsu Metals Corporation

May 25, 2012 06:35 ET

Orsu Provides Update on the Talas Project in the Kyrgyz Republic

LONDON, UNITED KINGDOM--(Marketwire - May 25, 2012) - Orsu Metals Corporation ("Orsu", or the "Company") (TSX:OSU)(AIM:OSU), the London-based base and precious metals development and exploration company, is pleased to provide an update on its exploration programme at the Talas joint venture project in the Kyrgyz Republic (the "Talas Project").

The Company, together with its joint venture partner Gold Fields Limited ("Gold Fields"), has recommenced field exploration work at its Talas Project. Gold Fields, through its subsidiary Gold Fields Orogen Holdings BVI Limited, has a 60% interest in the Talas joint venture company (the indirect owner of the Taldybulak, Barkol, Kentash and Korgontash licenses in the Talas region of the Kyrgyz Republic), whilst Orsu retains a 40% interest in the Talas joint venture company. Gold Fields is the project manager.

Gold Fields and Orsu have agreed on a 6,000 metre drilling programme for the Taldybulak deposit ("Taldybulak") aimed at providing additional infill drilling data for the existing Taldybulak mineral resource model and testing priority targets at deeper extensions and in the immediate vicinity of Taldybulak. In preparation for the infill drilling programme, an agreement was signed with the community of Aral village to obtain local support for the drilling programme. As of 24 May 2012, 1,470 metres of diamond drilling has been completed. The drilling programme is expected to be completed during the 2012 summer season ahead of any decision regarding a potential pre-feasibility study.

Dr Alexander Yakubchuk, Director of Exploration of Orsu, commented: "The recommencement of exploration work and the drilling programme at the Taldybulak deposit are important steps designed to further improve the metal grade of the deposit as well as to test additional exploration targets."

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 in this press release includes, but may not be limited to, the planned drilling programme for Taldybulak as well as the timing related thereto and the expected outcomes therefrom and the potential for a pre-feasibility study for Taldybulak.

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 and development will not be consistent with expectations, the 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 Kyrgyzstan, adverse changes in the laws or political environment in Kyrgyzstan, 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 30, 2012, 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 Company's ability to raise any required additional financing, as needed; the regulatory framework in Kyrgyzstan with respect to, among other things, the ability to obtain, maintain, renew and/or extend required permits, licences, authorizations and/or approvals from the appropriate regulatory authorities; and the ability to continue to obtain qualified staff and equipment in a timely and cost-efficient manner to meet demands. The Company has also assumed that no significant events occur outside of the Company's normal course of business or that of the joint venture company. 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.

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
    Dr Alexander Yakubchuk
    +44 (0) 20 7518 3999

    Orsu Metals Corporation
    Tania Tchedaeva
    Company Secretary
    +44 (0) 20 7518 3999

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

    Vanguard Shareholder Solutions
    + 1 604 608 0824