Update on Licence Application

RNS Number : 7828X

Amur Minerals Corporation

13 December 2010

 



13^th December 2010

Amur Minerals Corporation

(AIM: AMC)

Update On Kun-Manie Mining Licence Application

Significant Progress Made

Amur Minerals Corporation ("Amur" or the "Company"), an exploration and development company focused on Far East Russia, announces that it has received an update from Rosnedra related to its application for a mining licence on its Kun-Manie nickel - copper exploration licence.  The review and approval process undertaken on the Russian Federation level for the mining licence was initiated in January 2010.  Subsequent to the initial review of Rosnedra, the Russian State regulator, the application was forwarded to the four Russian Federation agencies responsible for review and approval.  Three of the four external agencies included in the licence approval process have approved the application and the Company anticipates that the fourth agency, the Ministry of Economic Development, will provide its affirmative input and approval in due course.

Summary of position:

·     Rosnedra completed its initial review of the mining application and forwarded the documentation to the four Russian agencies that participate in the approval of the mining application.

·     Both the Ministry of Defence and Federal Security Service have approved the application.

·     A resolution from the Federal Anti-monopoly Services has been completed and provided to Rosnedra regarding approval of the licence.

·     Rosnedra is currently awaiting input and information from the Ministry of Economic Development which is responsible for establishing the projected average market price of nickel-copper concentrate to be used in setting the expected payments and fees related to the mining licence. 

Following the Ministry of Economic Development's input, Rosnedra will then draft the mining licence and its terms in accordance with the regulations of the Russian Federation.

Robin Young, CEO, Amur Minerals Corporation commented:

"We are pleased to report that the mining application has advanced through the majority of the Russian Federation agencies responsible for the award of the mining licence.  Everything is progressing positively and we look forward to updating shareholders in due course. "

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.

Enquiries:

Company Amur Minerals Corp.	Nomad and Joint Broker RBC Capital Markets	Joint Broker Hybridan LLP	Public Relations Lothbury Financial Services
Robin Young	Martin Eales	Claire Noyce	Michael Padley
CEO			Libby Moss
[phone]	[phone]	[phone]	[phone]

Notes to Editors

For further information about Amur, please visit the Company's website at www.amurminerals.com.

 

END

 

 

MSCFMMMZVGNGGZM