TORONTO, Ontario, May 23, 2013. Lydian International Ltd. (TSX: LYD) (“Lydian” or “the Company”), a gold-focused mineral exploration and development company, is pleased to announce that it has filed a technical report (the “Report”) prepared in accordance with Canadian Securities Administrators' National Instrument 43-101. The Report may be found on the Company website or under the Company's profile at www.sedar.com.
The independent Report dated April 21, 2013, entitled “Amulsar Gold Project Armenia Technical Report Mineral Resource Update and Reserve Estimate Update for Lydian International Limited” was issued by AMC Consultants (UK) Limited, with contributions from several other key industry consultants. The Report contains the information that was contained in the Company’s technical report dated April 18, 2013, which provides detail with respect to the Company’s mineral resource estimate. In addition, the Report provides detail with respect to the Company’s previously reported mineral reserve estimate and supports disclosure contained in the Company's news releases and other disclosure documents filed with securities regulatory authorities since April 18, 2013. The Company’s technical report dated April 18, 2013 did not contain the required detail concerning its previously reported mineral reserve estimate and, accordingly, did not support the disclosure of such estimates after April 18, 2013.
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.
Caution regarding forward-looking information:
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterised by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements with respect to the Report, the Company’s operations, exploration and development plans, expansion plans, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, estimates, expectations, forecasts, objectives, predictions and projections of the future. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company’s most recent annual information form under the heading “Risk Factors”, which has been filed electronically by means of the Canadian Securities Administrators’ website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:
+44 (0)1534 715473
+44 (0)7797 742800