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Mangazeya Mining Recent Updates
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relic
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August 30, 2018 - 10:13 am
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These updates are from the MD&A published yesterday.

Savkinskoye update

During 2017 the operations of Savkinskoye were carried out in accordance with the development plan. The Company continued mining of Central and South-West parts of the deposit, and started mining of Khlebniy deposit (from February 2017). In the fourth quarter of 2017 the Company developed and sent to the state authority the project on exploration works for reserves of Savkinskoye’ flanks (Filevskiy). The positive State Expertise approval was obtained with respect to the project in Q1 2018.

Nasedkino update

In August 2017, Wardell Armstrong International Ltd (“WAI”) completed the Technical Report titled “NI 43-101 Compliant Mineral Resource and Ore Reserve Estimates for the Nasedkino Gold Project, Russian Federation” (the “NI 43-101 Technical Report”) for Dalsvetmet. This NI 43-101 Technical Report was prepared as an integral part of the Company's evaluation of the Nasedkino development and additional exploration. This 43-101 Technical Report updates the “43-101 Technical Report for Nasedkino Project, Mogocha, Transbaikal Region, Russian Federation dated October 10, 2012 by SRK Consulting ("SRK"). The report’s release with comments was filed and available on SEDAR at http://www.sedar.com.

On October 20, 2017, the project documentation “Technical Project for Open Pit Mining at Nasedkino Deposit” was approved by the Central Committee for solid mineral deposits development.

During 2018 the Company continued preparation for the construction of a gold plant and start of mining works, completed the water pond and stream channel. Construction of the road from Nasedkino to the nearby railway station Kislyi Klyuch is at the stage of completion. The Company has also started the construction of the field camp, completed the bridge crossing river Bolshoy Urym and finished reconstruction of the fuel storage facility and the dead end siding on the Kislyi Klyuch station. Construction of a backup power transmission line is completed.

In Q1 2018, the permit for the construction of gold recovery plant at Nasedkino gold deposit (gold recovery plant and utilities) was obtained.

During the first half of 2018 there were no exploration works. In Q2 2018 the Company made 488 analyses on Nasedkino site. In 2Q 2017 on ore areas of the deposit the Company passed 3,109 m3 of trenching and started trench samplings. During Q1 2017 there were no exploration works.

Zolinsko-Arkiinskaya update

Ore deposit. In the third quarter of 2017 the Company completed the feasibility report of the Kochkovskiy ore deposit. In the third quarter of 2017 the Company completed the project for assessment and exploration works on ore deposit within the license area, including the Kochkovskiy site. The Company sent to the state authority the feasibility report and the project for assessment and explorations works of the Kochkovskiy ore deposit. In the fourth quarter of 2017, the exploration work project was prepared for the Kochkovskiy ore deposit. The project received a positive opinion from the state geological expertise and included in the State Register.

In Q1 2018, the project for the pilot industrial development of oxide ores of Kochkovskoye deposit was approved by the Central Committee for solid mineral deposits development. In Q1 2018, the deposit was being prepared for development (construction of heap leaching site, field camp, and warehousing facilities was started). In Q1 2018, ground water exploration was conducted for the purposes of water supply for the field camp, 200 m of drilling was performed on 3 holes. Water pumping results showed that the quality and volume of the ground water were sufficient to be used as a potable and domestic water supply.

In Q2 2018, mining operations started at Kochkovskoye deposit, the operations of Kochkovskoye were carried out in accordance with the development plan. In Q2 2018, the Company pursued achievement of performance goals and adjusted performance indicators at Kochkovskoye deposit.

During the first half of 2018 the Company performed 3,465 m of core drilling on 22 drill holes, 5,258 m3 of trenching on 6 tranches, made 3,718 core samplings, 1,644 trench samplings, 5,362 analyses on Kochkovskoye deposit. There were no exploration works in Q1 2018. During the first half of 2017 there were no exploration works.

The Savkino production team participates in the trial development of the Kochkovskoye deposit. At the first stage oxide ores will be extracted and processed. Heap leach operations are set to start in 2018 with annual processing capacity of 500 thousand tones. Gold-lo aded carbon will be processed at Savkino. Final feasibility study based on exploration results is to be defended in 2019. Stage 2 of deposit development will include construction of Mining and Processing Plant for primary ore processing (floatation and autoclave).

Alluvial deposit.

In the first quarter of 2017 the Company submitted a Report on exploration results on upstream of Urov river (left bank) and Urumkan river water gap (Tayna feeder), placer gold reserves estimation on Talovka and Kuvshikha locations as at April 1, 2017 to the state authority. In Q1 2018, subcontractor agreement for the development of placer gold on Srednya river and the Mostovaya river feeder was concluded. In Q2 2018, the Amendments to project “Development of Placer Gold on upstream of Srednya river and the Mostovaya river feeder” was submitted. The start of works is scheduled for Q3 2018

source: http://www.sedar.ca

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