Teknomining Plc
LSE : TEKP

November 18, 2011 12:29 ET

Resignation of Director

18 November 2011

                                              TEKNOMINING PLC
                                     ("Teknomining" or "the Company")
                                              (PLUS-SX: TEKP)
                                                     
                                          Resignation of Director
                                                     

Teknomining, the Dublin-headquartered mining and Exploration Company, wishes to provide the Market today
with the following update.

The Board has accepted Liam McGrattan's resignation as Director of Teknomining Plc.

Michael Holden, CEO of Teknomining, commented: "Liam McGrattan notified me at 10.26 pm on the 17th November
of his resignation from the Company with immediate effect. I wish Liam the best in his future endeavours."

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: +90 533 241 55 50
Email: Teknomining@gmail.com
Website: www.teknomining.com

Yellow Jersey PR Limited
Dominic Barretto, Managing Director
Mob. UK:+44 (0) 7768 537 739
Email: Dominic@yellowjerseypr.com


About Teknomining

Teknomining Plc ("Teknomining" or "the Company") through its Turkish subsidiary secured two licences in
January 2010 for exploration for primary minerals (Iron Ore, Chromium, Copper etc.) and secondary minerals
(Lead, Zinc, Nickel, Platinum, Vanadium, Cobalt, Silver and Gold) in the Diyarbakir region of Turkey.

The licence area is c1.090 hectares (10.9 Km.Sq.).

The first prospect licence covers an area of 365 hectare (3.650.000 m2 or 3.65 km2). The prospect contains
metallic minerals as analysed from samples taken from outcrops as part of the company's on-site
investigations covering just over 10% of the licenced area. The results show high grades of Primary
Minerals namely Copper, Chromium, Iron, Aluminium and Secondary Minerals such as Gold, Silver, Platinum,
Vanadium, Nickel, Cadmium, Titanium and Zinc.

The second prospect licence area covers an area of 725 hectare (7.250.000 m2 or 7.25 km2). The property
contains metallic mineral as analysed from samples taken from outcrops as part of the company's on-site
investigations covering less than 10% of the licenced area. The results to date have shown Primary Minerals
namely Iron-Ore, Copper and Industrial Minerals Mica, Magnesium and Chromium.

Teknomining Plc announced in June 2010 that the status of its first area of interest (licence reference
number 200800729) in Diyarbakir, (South Eastern region of Turkey) covering an area of 7.25 Km.Sq had been
changed from an exploration licence to a full operation licence. The operation licence is valid for an
initial ten year period until May 2020 and can be renewed for a further period of up to sixty years,
subject to Governmental approval. This licence allows the Company to commence the extraction of minerals in
this area. To date two Geophysical Ground Magnetic and Induced Polarisation (I.P) surveys have been carried
out in this licence area and targeted drilling programme is under way. Results to date indicate the
presence of commercial grades of Nickel, Cobalt and Iron-Ore and further drilling may reveal the existence
of a porphyry deposit of Copper.

Teknomining announced in July 2010 that it had secured a full operation licence over its second area of
interest (reference number 200806366) in Diyarbakir, (South Eastern region of Turkey) covering an area of
3.65 Km.Sq. 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 sixty years, subject to
Governmental approval. This licence allows the Company to commence the extraction of minerals in this area.
To date three Geophysical Ground Magnetic and Induced Polarisation (I.P) surveys have been carried out in
this licence area.

Teknomining announced in May 2011 it had been awarded full rights to three additional exploration licences
taking the total number of licences under management to five - with two operation licences and three
exploration licences.

Exploration Licence number 201100324 covers an area of 2,000 hectares, is valid until 28 March 2018 during
which time the Company can apply for an Operation Licence over this area.

Exploration Licence number 201100325 covers an area of 2,000 hectares, is valid until 28 March 2018 during
which time the Company can apply for an Operation Licence over this area.

Exploration Licence number 201100406 covers an area of 1,407 hectares, is valid until 28 March 2018 during
which time the Company can apply for an Operation Licence over this area.

LICENCE HIGHLIGHTS:

* Area now under licence increased five-fold;

* The three additional exploration licences with a total area of 5,407 hectares (reference numbers
201100324, 201100325 and 201100406) further enhance the Company's footprint covering a total area of 6,497
hectares (64.97km sq.)and enable the Company to take full advantage of further opportunities that lie in
the Diyarbakir region of Eastern Turkey.

* The three additional licences cover exploration rights over Group IV (Four) Minerals which include
Industrial and Metallic Minerals as set out under Turkish mining laws and are located beside the Company's
two current operational licences which are located in the Diyarbakir region of eastern Turkey.

* It is anticipated that initial desk studies will commence immediately on the new exploration licence
areas with exploration survey activity planned to commence towards the end of 2011.

To date the Company has undertaken five major Geophysical Ground Magnetic, Resistivity and Induced
Polarisation (IP) Surveys which have shown the presence of strong positive anomalies indicative of
magnetite's with significant potential reserves in excess of 25 million tonnes of high grade iron ore.

The Resistivity and IP surveys have shown the presence of strong positive anomalies. Four examples were
given which indicate massive sulphide and silicated sulphide anomalies. Initial test drilling has indicated
the presence of Nickel, Copper, Cobalt and other metallic minerals.

The latest October 2011 Kulp 200806366 licence Deep IP/Resistivity and Ground Magnetic Report indicates the
presence of a possible Porphyry Anomaly with an estimated size of 48 million M3.

The  latest  October  2011 Kulp 200800729 licence Deep IP/Resistivity and Ground  Magnetic  Report
indicates  the  presence  of  a  possible Quartz Porphyry and or  intrusive  Anomalies containing possible
Sulphide mineralization with an estimated size of 604 million M3.

The  Groups  short  term strategy and work programme is to complete further exploration  and  test drilling
to  confirm the location and level of reserves initially in its two Operational  Licence
areas and to prepare a detailed strategy to commence the extraction of its huge reserve  of  high quality
iron ore.

Contact Information

  • Teknomining Plc