8 March 2018
AMUR MINERALS CORPORATION
(AIM: AMC)
Access Road Update
Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that it has engaged JSC Cevi Construzioni ("CC") to undertake the inaugural step in the design for its near 350 kilometre long access road from the Ulak rail station area (on the Baikal - Amur rail line) to the Kun-Manie project site. This step is the first in a three component process allowing the Company to apply for a long term grant of access rights to the project site.
Highlights:
· As per Russian Federation requirements, the first component (awarded) of the access road work will consist of a desktop review of the Company's current design route and the parametres utilised in its generation. This will include consideration of bridge and crossing designs, hydrological considerations, generation of road profile(s) and limited typical road design sections, potential cut and fill volumes, current land ownership considerations, and ecological and geological surveys to be completed under current Russian standards. CC estimates this work will require between 8 and 12 weeks to complete which is scheduled to commence 12 March 2018.
· Upon completion of the inaugural stage, an ensuing second desktop study phase will be implemented and will consist of a more detailed and comprehensive design including identification of specific fill sources, refined bridging details, etc. Capital and operating costs will be defined as a part of this work. This second stage of desk top work is projected to require between four and five months to complete and will be awarded post completion of the inaugural work component.
· Concurrent with the compilation of the inaugural stage and ensuing second desktop study phase, the Company will be completing a third component to the study. This component consists of the compilation of a land usage package including public hearings for additional input on route selection. The communities, local and Amur Oblast administrations are strong supporters of Amur and the development of the Kun-Manie deposit.
· The information from the inaugural and second desk top evaluation components as well as the land usage plans will be amalgamated into a final document for review and approval by necessary Amur Oblast authorities enabling Amur to proceed to land allotment, cadastral registration and assignment of a short term land lease. Approval by the Amur Oblast authorities will allow the Company to immediately implement an on the ground field survey of the access road route.
· Based on the field survey evaluation, final design adjustments will be identified to avoid any identified geological and hydrological hazards whilst considering any potential ecological considerations, and a final route will be established. Subsequently and according to Russian Federation procedures, this final design for the road will enable the Company to acquire long term access rights to the Kun-Manie site allowing the Company to begin start up construction of the road.
Robin Young, CEO of Amur Minerals, commented:
"The kickoff of our Access Road Development Programme represents major shift from our historical exploration mode to that of an engineering and design mode. The access road has always been a key variable in ensuring that we can successfully mine the largest undeveloped nickel copper sulphide deposit located immediately adjacent the three largest international nickel consuming nations of China, Japan and Korea. This road will allow Amur to deliver concentrate into the rail system for delivery to market and the ability to supply and support the planned operation.
With Cevi Construzioni, the Russian Federation certified road design group, we have engaged an experienced road support company, which is familiar and experienced in the region having worked in both permafrost conditions and as a subcontractor on nearby projects including the Elga Coal project to the north of Kun-Manie in the Sakha Republic (Yakutia). We look forward to providing updates on Cevi Construzioni's progress whenever key milestones are attained. The first anticipated access road milestone is projected to be due in approximately 8 to 12 weeks."
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.
Enquiries:
Company Amur Minerals Corp. |
Nomad and Broker S.P. Angel Corporate Finance LLP |
Public Relations Yellow Jersey PR |
Robin Young CEO |
Ewan Leggat Soltan Tagiev |
Charles Goodwin Harriet Jackson Dominic Barretto |
+7(4212)755615 |
+44(0)2034 700 470 |
+44(0)7544 275 882 |
For additional information, visit the Company's website, www.amurminerals.com.
