Gold mineralization now intersected in drill holes over 700m strike distance with potential to extend in all directions
TORONTO, Canada, July 31, 2008 – Lydian International Ltd. (TSX:LYD), a diversified UK mineral exploration and development company with a portfolio of highly prospective precious and base metal assets in Eastern Europe, is pleased to announce it has appointed London-based broker Fox-Davies Capital Limited (“FDC”) as International Capital Market Advisor to the Company effective immediately.
FDC will work alongside Lydian’s Canadian advisors to act as a point of contact between the European based investment community and the Company, co-ordinate and advise on aspects of the presentation of the Company to institutional and other potential shareholders, and publish research reports including a comprehensive initial report followed by updates driven by corporate activity. As part of the terms of engagement, FDC will be granted 347,330 broker warrants, exercisable at CAD$0.55 at any point over the next two years. The broker warrants are issued to align the interest of Lydian and FDC in all business dealings going forward.
“We are delighted to appoint Fox-Davies Capital as a Capital Markets Advisor,” said Tim Coughlin, President and CEO of Lydian. “FDC’s specialisation in Eastern Europe and wide-ranging relationships with international institutions make them an ideal fit.”
“We plan to continue developing our existing assets and to acquire new interests in Eastern Europe as part of our growth strategy,” Tim Coughlin added. “FDC will work alongside Lydian to support and promote the Company in the marketplace in an effort to have the share price reflect our development and prospects for growth.”
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, exploring in the Balkan and Caucasus regions, 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 (NSYE & 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.
About Fox-Davies Capital
Fox-Davies Capital is a member of the London Stock Exchange and specialises in providing corporate finance advisory, broking and capital raising services to international resource companies. Fox-Davies provides its corporate clients with access to investors in the UK, European and North American capital markets and has an established track record in emerging markets particularly in the Former Soviet Union, Africa, and Asia. Further information is available on the Fox Davies Capital’s website at: www.fdcap.com
For more information, please contact:
President and CEO
+44 7717 204300
Fox-Davies Capital Limited
+44 207 936 5200
Securities regulators encourage companies to disclose forward-looking information to help investors understand a company’s future prospects. This press release contains statements about our future financial condition, results of operations and business. These are “forward-looking” because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by