Minister Endorses Exploration Permit

RNS Number : 3444D

Georgian Mining Corporation

09 October 2018

 

Georgian Mining Corporation / EPIC: GEO / Sector: Natural Resources

9^th October 2018

Georgian Mining Corporation

('GEO' or the 'Company')

Minister Endorses Exploration Permit - One Step Remains

Georgian Mining Corporation is pleased to announce that the award of the pending exploration permit has taken a major step forwards with the endorsement of the application by Mr. George Kobulia, the Minister of Economy and Sustainable Development in Georgia.  The final step, the Government Resolution, has now been submitted by the Mining Agency.

Mike Struthers, Chief Executive Officer said:  

"Following my meeting with Mr. Kobulia on Friday 21^st September, he has held further internal meetings and I'm very pleased to report that the Minister has now endorsed our application.  This allows the Mining Agency to finalise the Government Resolution, which was done and submitted on Monday 8^th October.  This Resolution goes to other ministries such as Finance and Environment and takes only a few weeks to complete.

"It's been a longer process than anticipated, for reasons I've explained previously.  I'm grateful to our employees for their diligence during this period and to our shareholders for their patience. Our team in Georgia are poised to re-start physical fieldwork, and I'm confident once the drilling starts we'll be generating interesting results very soon."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information please visit www.georgianmining.com  or contact:

Mike Struthers	Georgian Mining Corporation	Company	Tel: [phone]
Ewan Leggat	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Soltan Tagiev	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Damon Heath	Shard Capital Partners LLP	Joint Broker	Tel: [phone]
Camilla Horsfall	Blytheweigh	PR	Tel: [phone]
Julia Tilley	Blytheweigh	PR	Tel: [phone]
Simon Woods	Blytheweigh	PR	Tel: [phone]

 

About Georgian Mining Corporation

Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines.  The Bolnisi concession covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which will advance to Feasibility Study in 2018.  These projects are proximal to existing mining operations owned by the Company's joint venture partner, and their sister production company.  Georgia has an established mining code and is a jurisdiction open to foreign direct investment.

 

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