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Not for distribution to United States newswire services or for dissemination in the United States

TORONTO, Ontario, October 26, 2010 – Lydian International Ltd. (TSX: LYD) (“Lydian” or “the Company”), a gold-focused mineral exploration and development company, announced today that it has closed its previously announced bought deal offering, pursuant to which it sold 9,315,000 ordinary shares of Lydian to a syndicate of investment dealers led by Cormark Securities Inc. and including Dundee Securities Corporation, Canaccord Genuity Corp., TD Securities Inc. and Stifel Nicolaus Canada Inc. at a purchase price of $2.13 per share, for aggregate gross proceeds of $19,840,950.  The 9,315,000 ordinary shares sold include 1,215,000 ordinary shares sold pursuant to the exercise of an over-allotment option granted to the underwriters, which was exercised in full.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

About Lydian International

Lydian is a gold-focused mineral exploration and development company with expertise employing “first mover” strategies in emerging exploration environments. Currently Lydian is focused on Eastern Europe and on developing its flagship Amulsar gold project in Armenia. The Amulsar group of licenses is 95% owned by Lydian’s wholly owned Armenian subsidiary (Geoteam CJSC). Lydian also has a pipeline of promising early-stage gold and base metal exploration projects in the Caucasus regions.

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 characterize emerging environments. The Company’s significant 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.

For further information please contact:

Steve Smith Investor Relations Manager
+44 (0)1534 715472 
+44 (0)7829 848420
info@lydianinternational.co.uk