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Amur Minerals Corporation

UPDATED: Amur Minerals Corporation High Grade Extension – 50 Metres of 0.97% Nickel

Amur Minerals Corporation (LON:AMC), a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, has today announced the June 2016 drill results from its Maly Kurumkon / Flangovy (“MKF”) drill programme at Kun-Manie.

CEO Robin Young talks to DirectorsTalk about the June 2016 drill results from its Maly Kurumkon / Flangovy drill programme at Kun-Manie. Robin tells us when we can expect drilling to complete, talks through the objectives for the programme and how its progressing, the 15,000 metre programme and the significance of the results on Area A drilling its impact on the potential of Kun-Manie.

 

Highlights:

· The early start to the drill season and higher than anticipated drilling rates have resulted in the completion of 38 holes containing a total of 7,469.2 metres which is nearly 50% of the total planned 15,000 metres for the year. A record number of metres have been drilled since 5 May 2016. This is more than have ever been completed in a single field season. The greatest previous total was 7,201.9 metres completed in 2012.

· The 2016 programme is divided into three areas identified as Area A, Area B and Area C. Area A is the first target located at the west end of MKF. The planned programme for Area A was intended to confirm, upgrade and expand the resource over a 500 metre length of the deposit. Planned for 3,300 metres of drilling, the programme was significantly upgraded during June in direct response to having identified new mineralisation to the west of the 500 metre long block which had been interpreted to be barren of mineral. The target area had been doubled to a length of 1,000 metres.

· Within Area A, drilling of a 2.1 million tonne high grade (>0.5% nickel) Inferred resource has now been completed to a drill spacing previously used to identify Indicated resources. The comprehensive high grade drill data set within the Inferred resource area indicates the zone to be 25.2 metres in average thickness, an increase from 15.8 metres used to define the April 2016 resource statement. The average length weighted grade of the holes within the Inferred resource area has also increased from 0.81% nickel to 0.88% nickel. Copper content increased from 0.21% to 0.25%. The high grade Inferred resource reported in April 2016 is considered to understate the mineralised tonnage, grade and metal for this 300 metre wide block.

· Area A mineralisation potential was considered to be limited to the west of the Inferred resource block where a fault was present and the geological rock type changed from ore hosting pyroxenites to typically barren metagabbro. Step out holes located across the fault now indicate the metagabbro is present but not as extensively as previously interpreted and high grade mineralisation is now confirmed to be present by drilling. The high grade mineralisation is continuous from the Inferred resource block for an additional 400 metres westward, all of which is new discovery mineral. The total length of MKF has been increased to 2,600 metres. Additional potential remains further to the west within Area A and the Company will continue to drill further step outs in increments of 100 metres until the metagabbro is intersected in the drilling.

· The newly discovered high grade mineralisation in excess of 0.5% nickel averages 21.8 metres per hole containing 0.99% nickel and 0.24% copper. Drilling in the newly discovered mineralisation is being conducted at a spacing that SRK Consulting (UK) Ltd has used to report Indicated resources.

· Area A metallurgical holes drilled adjacent to existing holes have been completed with at least another four holes planned for the new mineral.

· Drilling of DFS metallurgical holes located in 1,200 metre long Area B located to the east of A was initiated in late May and is ongoing.

· Analytical results continue to be generated onsite using the Company’s two Niton XL2 500 X-Ray Fluorescence (“RFA”) units, allowing for rapid turnaround and decision making in the field.

· Alex Stewart Laboratories (“ASL”) confirms that the analytical results from the first batch of 570 samples (May drilling) are in are being prepared for analysis. ASL results are used to estimate resources. An additional 478 samples (June drilling) have been shipped from our facilities in Khabarovsk, Russia to ASLS in Moscow.

Based on total metres, the 2016 drill programme of 15,000 metres is nearly 50% complete. Since inception of drilling in early May, the focus has been on the western limit of MKF identified as Area A. High grade nickel and copper results have been drilled and exceed expectations. The current Inferred drill resource appears to be understated with regard to thickness, grade and contained metal. The presently identified Inferred resource could be as much as 50% thicker (based on a 0.50% cutoff grade (“COG”) and with an average grade increase of 10%.

The drill discovery of another 400 metres of high grade nickel and copper mineralisation immediately to the west of the Inferred resource indicates that the MKF deposit is at least 2,600 metres in length. Very similar grades and thicknesses to that of the Inferred resource substantiate the potential to add to the reserve inventory. Given the location of the Area A mineralisation and the logistical support requirements to drill at Kun-Mane, the Company plans to drill all resources to a classification of Indicated. This precludes having to return to the area for any additional resource drilling and delineation.

Robin Young, CEO of Amur Minerals Corporation, commented: “Last month we were pleased to report that the acquired 2016 drill results for the western area of Maly Kurumkon – Flangovy were successfully delineating the limits of the mineralisation and the likely conversion of a two to three million tonne block of Inferred resource to that of Indicated. We were also able to inform our shareholders that we had identified the presence of the thick, high grade zone located along the entire length of the deposit. This discovery of the pipe provides us with the additional potential to increase the tonnage and average grade of ore within this Inferred block during the next resource update. We were in the final stages of defining the western limit of the mineralisation and planning to shift our efforts to the collection of the metallurgical sample along the central area of Maly Kurumkon – Flangovy.

Results from the first drill hole in June immediately modified to our plans. This first hole intersected the high grade pipe where mineralisation was not anticipated to be present based on surface geological information. We immediately expanded the step out drill programme and have now extended the pipe a further 400 metre long along bringing its total length to 2,600 meters. Two of the holes have intersected mineral thicknesses of 50 metres which contain nickel grades ranging from 0.82% to 0.98%. This new mineralisation should add substantially to the resource inventory and contribute to the project potential. The rapid adjustment to our programme was possible due to our ability to generate preliminary analytical results at site.

We look forward to continuing our monthly drill updates as well as providing additional information related to the Definitive Feasibility Study.”

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