Licence Payment Completed

RNS Number : 1289R

Amur Minerals Corporation

25 June 2015

 

25 June 2015

AMUR MINERALS CORPORATION

(AIM: AMC)

Kun-Manie Licence Transaction Completed

Required Payment Completed

Amur Minerals Corporation ("Amur" or the "Company"), the exploration and development company focused on base metal projects located in the Far East of Russia, is pleased to report the Company has completed its acquisition of the "Detailed Exploration and Production Licence" ("Licence") by transferring the one-time payment for the Licence conversion.  A total of 23.6 million Roubles (approximately US$445,000) were transferred by the Company's subsidiary ZAO Kun-Manie on 24 June 2015. Key highlights include the following:

·     The payment of 23.6 million Roubles (approximately $445,000 US) by our wholly owned ZAO Kun-Manie completes the transaction assigning the production rights of 100% of the recoverable metal.

·     The Licence covers a twenty year period to 1 July 2035 which can be extended if additional mineralisation is discovered and warrants mining. 

The final step in acquisition of the "Detailed Exploration and Production Licence" for Kun-Manie was completed with the submission of the conversion payment to Dalnedra, a subsidiary of Rosnedra.  This payment provides the Company with the right to mine and recover all nickel, copper, cobalt, platinum, palladium, gold and silver from the Strategic deposit.  The payment was due 10 July 2015, one month after registration of the Licence.

Robin Young, CEO of Amur Minerals Corporation, commented:

"It is with pleasure I report that our wholly owned subsidiary ZAO Kun-Manie has transferred the necessary funds for the one-time payment completing acquisition of the production licence rights for 100% of the metal at Kun-Manie.  We are moving on to the next phase of evaluating Kun-Manie by infill drilling and initiation of the metallurgical test work."

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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