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Company Annoucements:Nordgold’s Entity Wins Gold Exploration and Mining Licence in Russia

11th October 2013

By: Creamer Media Reporter

  

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Nord Gold  (0.05 MB)

Nord Gold the internationally diversified, pure-play gold producer strategically focused on emerging markets, is pleased to announce that JSC “Buryatzoloto”, in which the Company holds an 84.9% stake in the common shares, has won an auction for an exploration and mining licence in the Zhanokskaya gold area in the Republic of Buryatia in Russia.

The Zhanokskaya area is adjacent to Nordgold’s existing licence areas of Buryatzoloto. As of 1 January 2012, the area contained 20 tonnes of gold in P2 Russian classification resources and 40 tonnes in P3 resources. Buryatzoloto will pay 11 million roubles (approximately US$0.3 million) for the licence.
Nikolai Zelenski, Chief Executive Officer of Nordgold, noted: “Zhanokskaya tenement is a geologically promising area located next to our Irokinda mine. Its ore could in the future feed Irokinda processing plant, thus leveraging our existing infrastructure. We are very pleased to have acquired this licence”.

About Nordgold
Nordgold is publicly traded on the London Stock Exchange international pure-play emerging-markets gold producer established in 2007. Nordgold has expanded rapidly through acquisitions and organic investment, achieving a rate of growth unmatched in the industry during that period. In 2012, Nordgold’s gold production was 717 Koz. The Company operates nine mines in Russia, Kazakhstan, Burkina Faso and Guinea. Nordgold has one development project, five advanced exploration projects and a diverse portfolio of early exploration projects and licenses in CIS, West Africa and French Guiana. Nordgold employs over 10,000 workers.
 

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