TORONTO, Ontario, September 30, 2013. Lydian International Ltd. (TSX: LYD) (“Lydian” or “the Company”), a gold-focused mineral exploration and development company, is pleased to announce further details regarding the recent resignation of Dr. Armen Sarkissian as a director of the Company, initially announced and described in the Company's news release dated September 25, 2013.
Since the Company’s news release, the presidential press service in Armenia announced that Armenian President Serzh Sarkisian has appointed former Lydian director, Dr. Armen Sarkissian as the next ambassador of Armenia to the United Kingdom. Dr. Sarkissian’s resignation as a director of the Company was a customary step in preparation for his new distinguished position.
Commenting on the appointment of Dr. Sarkissian as ambassador of Armenia to the United Kingdom, Tim Coughlin, Lydian’s President and Chief Executive Officer, said “On behalf of the Company, we are very pleased to congratulate Dr. Sarkissian on his recent ambassadorial appointment”. He also added, “As Lydian continues to advance its goal of maximizing the efficiency and robustness of the development of the Amulsar Project, we look forward to continuing to work closely with Dr. Sarkissian in his new role to take advantage of opportunities that will deliver social and economic development benefits for Armenia, both locally and nationally.”
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, in particular, developing its flagship Amulsar gold project in Armenia. 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 characterise emerging environments. The Company’s significant shareholders include the International Finance Corporation which is a member of the World Bank Group and the European Bank for Reconstruction and Development. More information can be found on Lydian’s web site at www.lydianinternational.co.uk.
For further information please contact:
+44 (0)1534 715473
+44 (0)7797 742800