Mining Licence Update

RNS Number : 6451W

Amur Minerals Corporation

11 November 2014

 



11 November 2014

AMUR MINERALS CORPORATION

(AIM: AMC)

Mining Licence Update

Ministry of Economic Development Approval

Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper exploration and development company focused on base metal projects located in the Far East of Russia, is pleased to announce the Ministry of Economic Development ("MED") has approved the "Detailed Exploration and Production Licence" application on Amur's Kun-Manie nickel copper sulphide project.  All required independent and external reviews required by Rosnedra are now complete.

Rosnedra will compile and submit its summary report on the Company's application to its parent organisation, the Ministry of Natural Resources ("MNR") for further consideration and ultimate submission to the administration of Prime Minister Dmitry Medvedev for final consideration and approval.

With the MED approval, another milestone has been reached in the process of converting a portion of the exploration licence at Kun-Manie to that of a production licence.  The area contains all drilled mineralisation during the last 10 years. 

Highlights:

·     MED completed its review of the application which includes the terms and conditions, the coordinates of the mining licence area and the one time conversion payment.

·     The MED review is the final external report required by the MNR and Rosnedra.

·     Updated approval reports have already been issued by Federal Antimonopoly Service ("FAS"), Ministry of Defence ("MOD"), and the Federal Security Service ("FSB").

·     Rosnedra will forward the application to its parent, the MNR, for approval.

Robin Young, CEO of Amur Minerals Corporation, commented:

"We are pleased that major progress on our application converting a portion of our exploration licence to a Detailed Exploration and Production Licence is another step closer to completion.  The Ministry of Economic Development has now approved the production license terms that establish the one-time payment, environmental monitoring and basic production terms, and reporting timelines.  These terms are the result of fair and open negotiations between Amur and the Russian Government.  We continue to see the Russian authorities participating on a highly proactive basis to ensure the Kun-Manie project and development of the vast Far Eastern region in general continues.  We thank our counterparts in the Ministry of Economic Development and shall continue to fully cooperate with the Ministry of Natural Resources so that the administration of the Prime Minister receives our application as soon as possible."

Enquiries:

Company Amur Minerals Corp.	Nomad and Broker S.P. Angel Corporate Finance LLP	Public Relations Yellow Jersey
Robin Young CEO	Ewan Leggat Katy Birkin	Dominic Barretto Kelsey Traynor
[phone]	[phone]	[phone]

Notes to Editors

The information contained in this announcement has been reviewed and approved by the CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges.

For further information, see the Company website at www.amurminerals.com. 

 

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