TORONTO, Ontario, May 28, 2015 – Lydian International Limited (TSX:LYD) (“Lydian” or “the Company”) is pleased to announce it has published its Environmental and Social Impact Assessment (“ESIA”) for its 100% owned Amulsar Gold Project, located in Armenia. The ESIA is an important document which will be a cornerstone for developing best international practices and adhering to the requirements of the Equator Principles.
A copy of the ESIA, published in English, can be found on Lydian's Website. In addition, a copy published in Armenian and English can be found on Geoteam's Website. Digital and hard copies are also available at the Amulsar Information Center located at the project site, as well as in Geoteam office in Yerevan.
Howard Stevenson, Lydian’s President and CEO, emphasized that, “the ESIA is an important element in our plans to build and operate Amulsar by applying best international practices. Along with completion of the feasibility study, last year’s receipt of the Mining Right from the Government of Armenia and recent operating cost improvements expected to be realized, we continue to move the Amulsar Gold Project closer to construction and further demonstrate the quality of the asset.”
About Lydian International
Lydian is an emerging gold developer, focused on its 100% owned Amulsar Gold Project, located in Southern Armenia. The Company’s current mine development and construction plan for Amulsar is aimed at achieving average production of 200,000 ounces of gold per year and establishing the Company as a low cost producer. The Company is committed to best practices in all aspects of its operations including production, sustainability, and good corporate citizenry. For more information on Lydian please visit www.lydianinternational.co.uk.
Caution regarding forward-looking information
This news release contains certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized 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. All statements, other than statements of historical fact, included herein, including statements with respect to the ability of the Company to optimize and/or enhance the base case as set out in the 2015 Technical Report for the Amulsar Gold Project, including with respect to operating costs and capital costs, the ability of the Company to potentially include the results of the mine redesign and value engineering processes in new or updated feasibility studies or any future financial analysis of the Amulsar Gold Project, the ability of the Company to carry forward and incorporate into future studies of the Amulsar Gold Project the mine design, work that will evaluate and optimize the project configuration and operating costs and capital costs, the potential development of any mine at the Amulsar Gold Project and the production therefrom, business and financing plans and business trends are forward-looking statements. Information concerning mineral reserve/resource estimates and the economic analysis thereof contained in the feasibility study also may be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered, and the results of mining it, if a mineral deposit were developed and mined. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. 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, mine site planning and development, 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 additional information