TORONTO, Ontario -- August 20, 2009 -- Lydian International Ltd. (TSX:LYD) ("Lydian"), a diversified mineral exploration and development company, today announced that it had met the requirements and guidelines for registration as a Jersey-based enterprise.
Jersey is a pro-business Island offering an internationally competitive corporate tax regime, doorstep access to major banks and investment funds, easy access to capital markets in Europe and North America and direct airport access to investors in London, Zurich, Geneva and Paris. For a Toronto-listed company it is important to strike a balance between proximity to operations and its North American shareholder base. It was considered equally important for Lydian to boost its continuing presence in Toronto and to service investor needs by employing the North American market expertise of Pro-Edge Consultants Inc. ("Pro-edge").
"Jersey is a highly regarded jurisdiction and an ideal business environment for a centralized head office" said Tim Coughlin, Lydian's President and CEO "The fiscal regime is competitive and the island provides direct access to some of our most important markets as well as easy links to our operations in Armenia and Kosovo. Maintaining a presence in Toronto is of course a necessity for any TSX listed company. Lydian has a director based and residing in Toronto and a business development presence by way of its relationship with Pro-Edge Consultants".
"Jersey encourages high value low resource business and having Lydian establish a head office is a welcome example" said Wayne Gallichan, Director, Inward Investment & International Trade at Jersey Enterprise (www.jerseyenterprise.com).
Pro-Edge Managing Partner Tracy Weslosky commented: "Lydian offers a high quality investment opportunity that builds industry reputations - leadership backed by a compelling story and driven by a strong business model."
About Lydian International
Lydian is a diversified mineral exploration and development company with expertise employing "first mover" strategies in emerging exploration environments. Currently Lydian is focused on Eastern Europe developing advanced precious and base metal assets in Armenia and in Kosovo (under UNSCR 1244). The 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 and Caucasus regions, and operates a 50/50 gold and copper exploration joint venture with Newmont Overseas Exploration Limited, a wholly owned subsidiary of Newmont Mining Corporation in the south 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 Company's three largest shareholders are the International Finance Corporation (IFC), a member of the World Bank Group, Newmont Mineral Holdings B.V. (owned by Newmont Mining Corporation), and the European Bank for Reconstruction and Development (EBRD). 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, contact:
President and CEO
Lydian International Ltd.
+44 1534 747890
Business Development Office (416) 581-1362
For investor relations, contact: