Confirms base-metal potential below oxide gold zone and potential to add significant value to existing historical resource
TORONTO, Canada May 2nd, 2008 – Lydian International Ltd. (TSX:LYD), a diversified U.K. mineral exploration and development company, today announced results from step-out drilling in the St. Barbara area of the Drazhnje project in Kosovo. A fan of three drill holes intersected greater than 10m intervals of more than 10% zinc (Table 1) in new sulphide mineralisation that is located outside of the historical resource ( Figures 1 and 2 in Appendix). At Trpeza, some 900m along-strike from the St Barbara area and parallel to a chargeability trend in IP-geophysics, drilling has intersected further basemetalsulphides below a gold mineralisedoxidezone in three drillholes along a fence (resultspending; see Figure 1 in Appendixfor location of base-metalsulphide intersections).
“The grades and thicknesses encountered in this fan of step-out drill holes at St. Barbara are highly encouraging,” said Tim Coughlin, President and CEO of Lydian. “Intersections of apparently similarly mineralised material from below the gold mineralised oxide zone at Trpeza, which is 900m along strike to the northwest, suggest that the two systems may join along strike. This supports our contention that there is potential to add significantly to the existing historic resource at Drazhnje”
Fence drilling between the Trpeza and St. Barabara areas is continuing and results from a recently conducted ground gravity and magnetic survey from this area are pending. Silver (g/t) 2The Drazhnje project is a historic exploration project located in central eastern Kosovo and with former Yugoslav resources of 4.7Mt at 4.9%Zn, 2.4%Pb and 45g/t Ag in A, B and C1 categories and a further 2Mt at 5.76%Zn, 3.23%Pb and 45g/t Ag in C2 category (not JORC compliant).
In 2006, Lydian completed an initial combined confirmatory and exploratory drilling programme of some 2500m in 20 diamond drill holes. Currently the Company is drilling a further 6000m on targets outside the historic resource. The Company is also preparing to open underground access for sampling and underground drilling to convert the historic resource into JORC compliant reserves.
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, and is developing advanced precious and base metal assets located in Armenia and in Kosovo.
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 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 two largest shareholders are Newmont Mineral Holdings B.V., and International Finance Corporation (part of the World Bank Group). Lydian’s web site iswww.lydianinternational.co.uk where more information can be found.
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 Montania, Romania, in Perth Australia, or in Vancouver, BC. Please see Lydian’s web site for more information. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources 3and Lydian is not treating the historical estimate as current mineral resources. The historical estimate should not be relied upon.
For more information, please contact:
President and CEO
+44 7717 204300
VP Investor Relations
+416 599-7363 x 2404
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 securities laws and regulations.