Kyrghizstan Chaarat Gold Mine

SourceCNMC        Date:2009-08-20

On July 10th, 2009 China Nonferrous Metals International Mining Co., Ltd. signed the Investment Agreement with Chaarat Gold Holding Ltd, under which CNMIM will participate in the equity investment of Chaarat Gold Holding Ltd.and holds 19.9% of shares of the company, which makes it the first shareholder of Chaarat Gold Holding Ltd. and participate in the exploration,feasibility study,develoment and business operation of the project. It is estimate that in the year of 2013, Chaarat Gold Mine will be constructed into a large-scale gold mine integrating gold mining, concentrating and smelting with an annual capacity of 5.3 tons of gold.

Chaarat Gold Holding Ltd.has 100% of the exploration right over 604.6m2in Chaarat which is located in the west of March 2009, SRK made estimation on the resource in the south part of central area in accordance with the JORC standard, and estimate the gold reserve at 103t with average grade of 4.3g/t,the cut out grade for delineation of ore deposits is 3g/t. according to the geochemical survey, the east and west target area also have great potential of mineralization which will probably make Chaarat Gold Mine one of the world-class large-scale mines.