CENTRAL ASIA METALS PLC
("Central Asia Metals" “CAML” or the "Company")
Ereen Licence Status, Mongolia
Central Asia Metals (AIM:CAML), a mining exploration and development company focused on base and precious metals in Central Asia, is pleased to announce that the Ministry of Mineral Resources and Energy of Mongolia has confirmed that CAML’s Ereen licences have been removed from the list of licences in country liable to be revoked.
On 8 December 2010 CAML issued a press release concerning the potential termination of three of its Ereen licences. On 17 November 2010 the Government of Mongolia published a list of 254 mineral licences in the country that they intend to revoke. As formerly stated, CAML sent letters to the Department of Mineral Resources, Ministry of Mineral Resources and Energy, and Ministry of Environmental Protection and Tourism questioning the inclusion of our licences in the published list.
CAML can now confirm that it has received confirmation from the Ministry of Mineral Resources and Energy of Mongolia that the Ereen licences have been removed from the Ministry’s list of mining licences under consideration for termination. All three licences are considered hard rock deposits and therefore are not defined as alluvial as previously described by the Ministry of Mineral Resources and Energy.
The Chief Executive Officer of CAML, Nick Clarke, commented;
“It is pleasing to see the speed with which the Ministry responded to our request to review their decision on our Ereen licence and gratifying to receive such a favourable response. Mongolia remains a key region for CAML and we remain committed to our exploration projects, namely, Alag Bayan copper/gold, Handgait molybdenum and the Ereen gold projects. The authorities have shown their willingness to address matters of dispute in a fair and equitable manner.”
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