Amur Minerals Corporation (AIM: AMC) is pleased to announce its success in attaining two key licensing milestones on its Kun Manie nickel-copper sulphide project located in the Russian Far East. These are:
– The exploration licence has been extended for an additional two years to 31 December, 2010. Amurnedra, the local licensing agency, granted the extension. This governmental organisation concurs that Amur has conducted its historical exploration work in accordance with the originally awarded licence and that upside potential to discover additional mineralisation is substantial. Therefore, the Company needs additional time to explore several under explored targets as well as conduct additional grass roots work in as yet unexplored areas.
– The drilled resources located within the licence area have now been defined and approved by the State Committee on Reserves (GKZ). These will be added to the State reserve balance sheet and a Certificate of Discovery will be issued in due course. This Certificate allows the Company to apply for a mining permit on the presently drilled reserves.
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