Tests conducted on drill core extending to 146m down-hole depth
TORONTO, Canada, August 13, 2008 – Lydian International Ltd. (TSX:LYD), a diversified U.K. mineral exploration and development company, today announced preliminary results from metallurgical testing at its Amulsar gold discovery in Armenia.
A gold recovery test program was applied to a crushed continuous half drill-core of 146m length at SGS Lakefield in Canada. As part of the program, heap-leach amenability tests (coarse ore bottle roll cyanidation) on whole rock and gravity concentrates showed easily reproducible very high gold extractions at 94-97%.
The tests were carried out on 1 kg whole rock samples and gravity concentrates, at primary grind sizes from ~ 150 to 75 microns, with a pulp density 40% solids and a 48h retention time at pH 10.5-11 (maintained with lime). The prepared material with a “headgrade”of 1.1 g/t Au was derived fromthe entire146mof HQ half core from diamond drillhole DDA-004, a scout drill hole from the 2007 drilling programme. The core was crushed, mixed and riffled at -½ inch, to arriveat replicate samples for the test program. The main mineralogy of the whole rock consists of hematite, goethite, and rutile in a quartz matrix.
For all tests a gold recovery of 90% was established after only 8h, and reached 95% after 24h, both with modest to moderate NaCN consumptions. Amulsar is a high-sulphidation type epithermal gold project located in central Armenia. Lydian identified the gold bearing potential of the project in mid-2006. The Amulsar license is 95% owned by Lydian’s wholly owned Armenian subsidiary (Geoteam CJSC) and 5% owned by that Company’s local director. The project is currently being explored as part of a joint venture with Newmont Overseas Exploration Limited, a wholly owned subsidiary of Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC). The joint venture is a 50%-50% contribution. Newmont has two options to increase its interest. The first is an option to earn a further 20% by funding the project through to feasibility; the second option allows Newmont to earn a further 10% by funding through to commercial production.
About Lydian International
Lydian is a diversified U.K. mineral exploration and development company, with expertise employing “first mover” strategies in emerging exploration environments. The Company is currently focused on Eastern Europe developing advanced precious and base metal assets located in Armenia and in Kosovo.
The Company’s two main projects are gold at Amulsar in Armenia, and zinc, lead, silver and gold at Drazhnje in Kosovo. Lydian also has a pipeline of promising gold and base metal exploration projects in the Balkans region, and operates a 50/50 gold and copper exploration joint venture with Newmont Overseas Exploration Limited, a subsidiary of Newmont Mining Corporation (NYSE & ASX: NEM, TSX: NMC), in the Caucasus region.
Lydian’s management team has a track record of success in grassroots discovery, in acquiring and developing undervalued assets, and in building companies. Lydian has a strong social agenda and a unique understanding of the complex social and political issues that characterise emerging environments. The two largest shareholders are Newmont Mineral Holdings B.V. (owned by Newmont Mining Corporation), and International Finance Corporation (part of the World Bank Group). More information can be found on Lydian’s web site at www.lydianinternational.co.uk.
Dr Tim Coughlin, MAusIMM; is the Qualified Person overseeing Lydian's exploration programmes. Dr. Coughlin has supervised the preparation of the technical information contained in this press release.
Lydian employees are instructed to follow standard operating and quality assurance procedures intended to ensure that all sampling techniques and sample results meet international reporting standards. All assay work for the released results was carried out by ALS Chemex analytical laboratory in Rosia Montana, Romania, in Perth Australia, or in Vancouver, BC. Please see Lydian’s web site for more information.
For more information, please contact:
President and CEO
+44 7717 204300
Linda Montgomery VP Investor Relations
+416 214 4654
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