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22/11/2011

Lydian International - Armenia : Amulsar on the path to production 2014

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Additional Information
Market: TSX
Sector: Gold Mining
EPIC: LYD
Latest Price: 2.60  (0.39% Ascending)
52-week High: 3.09
52-week Low: 1.96
Market Cap: 258.35M
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Lydian International
www.lydianinternational.co.uk

Lydian International is a mineral exploration and development company with expertise and a proven track record in discovering and developing new gold projects in unfamiliar and frontier settings. The Company is currently focussed on developing its Amulsar gold discovery in southern Armenia. The Amulsar project was a new discovery made by Lydian in 2006 and currently hosts a global resource of 3.2M ounces after its resource update in January 2012. This resource update comprises a total of 1.7 million ounces gold in the indicated category and 0.6 million ounces gold in inferred category (using a 0.4g/t cut-off) from the contiguous Tigranes and Artavasdes areas and 0.5 million ounces gold in the indicated category and 0.4 million ounces inferred category from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes. The project remains open in all directions and is currently advancing towards Bankable Feasibility with full production due in the first half of 2014.

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Lydian gets 25 year mining license for Amulsar gold project in Armenia

7th May 2009, 3:01 pm
Lydian gets 25 year mining license for Amulsar gold project in Armenia

Lydian International Ltd (TSX: LYD) said it has been granted a 25-year Special Mining License by the government of Armenia covering its Amulsar gold project.

Activation of a mining project under the license requires completion of a concession agreement including a general workplan and financial outline, an environmental impact assessment, and a mining safety assessment by the mining technical regulatory body.

Chief executive officer Tim Coughlin said: "This is an historic day for Lydian and the culmination of an intensive three year exploration and development program. The mining license is one of the first licenses granted under Armenia's new mining law and it clearly exemplifies the government's commitment to support the mineral industry in Armenia".

The Amulsar gold project was discovered by Lydian three years ago and already has a CIM compliant resource at one million ounces in the inferred category which remains open in all directions. Management is confident that this year’s drilling programme will expand the current resource.

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