Board Changes

RNS Number : 5019K

Georgian Mining Corporation

07 July 2017

 

7 July 2017

Georgian Mining Corporation ('GEO or 'the Company')

Board Changes

Georgian Mining Corporation announces that Anthony (Tony) Frizelle has resigned as Non-Executive Director and Chairman with immediate effect for personal reasons. The Board thanks Tony for his contribution and wishes him well.

Tony's successor as Chairman will be the subject of a further announcement.

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:

Greg Kuenzel	Georgian Mining Corporation	Company	Tel: [phone]
Ewan Leggat	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Damon Heath	Shard Capital Partners LLP	Joint Broker	Tel: [phone]
Frank Buhagiar	St Brides Partners Ltd	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 licence covers an area of over 860 sq km and has a 30-year mining licence with two advanced exploration projects; Kvemo Bolnisi and Tsitsel Sopeli.  These projects are nearby existing mining operations owned by the Company's supportive joint venture partner.  Georgia has an established mining code and is a jurisdiction open to direct foreign investment.

The Company is developing the project in three phases:

·     Phase 1: H1 2017 target to delineate a minimum of 1-2 Mt to support initial spare capacity (now achieved and exceeded)

·     Phase 2: 2017 target to delineate a 3-5 Mt resource of combined copper-gold sulphide and gold oxide mineralisation (on target)

·     Phase 3: Long term target - to delineate a resource of 50Mt+

 

END

 

 

BOASSSFIWFWSEEW