Update re Mining Licence

RNS Number : 7688Q

Amur Minerals Corporation

04 September 2014

 

4 September 2014

AMUR MINERALS CORPORATION

(AIM: AMC)

Mining Licence Update

Updated Approval Report Received from Ministry of Defense

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 update shareholders on the status of the conversion of 36 square kilometres of its 950 square kilometre exploration licence at Kun-Manie to that of a production licence ("mining licence").  The area contains drilled mineralisation and resource potential identified during the last 10 years.  Russian authorities have informed the Company that the Ministry of Defense has updated its positive conclusion and delivered its report to Rosnedra including the period since its last review in September 2013.

The Company and Rosnedra, the state licensing agency, are finalising the terms for the mining licence and upon completion, Rosnedra will prepare and submit the necessary documentation to the Ministry of Economic Development ("MED") for its review and approval.  This submission can be undertaken upon completion of the terms and does not require input from any other sources or agencies.

As stated in the Company's previous RNS releases, MED's approval of the terms of the production application as well as the updated approval reports from the Anti-Monopoly Board ("FAS"), Ministry of Defense ("MOD") and Federal Security Service ("FSB") will allow Rosnedra to forward the application to the Ministry of Natural Resources ("MNR"), its parent organisation, and then onward to the Government of Prime Minister Dmitry Medvedev for final approval.

Highlights:

·     FAS as previously reported, has completed its update of the necessary documentation required by Rosnedra.

·     The MOD has now updated and delivered its approval to Rosnedra.

·     The update of the FSB report should be forthcoming in due course.

·     Documentation for the mining licence application will be submitted by Rosnedra to MED for review upon completion of the negotiation of the terms of the mining licence with the Company.

Robin Young, CEO of Amur Minerals Corporation, commented:

"Amur is pleased that updates of the previously issued reports required by Rosnedra are progressing.  With the FAS and MOD approvals issued, we await the FSB update, which is expected soon.  We continue to focus on the definition and agreement of the terms related to the mining licence.  Our team and its counterparts in the Russian Government have been making diligent progress in completing this phase of the work with Rosnedra.  Completion of the production licence terms will allow Rosnedra representatives to submit our application to the Ministry of Economic Development for its consideration.  This submission will be possible upon agreement of the terms for the production licence and requires no input from any other agencies in order for MED to complete its work.  We will continue close cooperation with Russian authorities to bring about the soonest possible issuance of the mining licence for Kun-Manie."

Enquiries:

Company Amur Minerals Corp.	Nomad and Broker S.P. Angel Corporate Finance LLP	Public Relations Yellow Jersey
Robin Young CEO	Ewan Leggat Laura Harrison	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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