Besra Receives New Twenty Year Mining Lease at Bau and Increases Project Ownership to Eighty-Five Percent
TORONTO, ONTARIO, Feb 12, 2013 (Menafn - Marketwire via COMTEX) --BESRA (asx:BEZ)(otcqx:BSRAF)(frankfurt:OP6), John Seton, Chief Executive Officer of Besra is pleased to announce that the final mining certificate renewal required for the main area of the Bau Goldfield being considered for mining (Jugan and Young's Hill) has been granted as a full mining lease with rights to exploit gold, silver, base metals and calcium. The granting of the lease, for twenty years from January 23, 2013, is seen as another positive for a project that already possesses infrastructure features such as roads, electric power, close proximity to an international airport and a deep-water port. The new mining license covers the Jugan, Fern Hill, and Jambusan deposit areas (see below:Aerial view of the Bau Goldfield).
To view Aerial view of the Bau Goldfield, please visit the following link: http://media3.marketwire.com/docs/bau_goldfield_map01_feb12.pdf
The Bau Goldfield has a NI43-101 Measured resource of 3,405600 tonnes at 1.52 g/t Au containing 166,900 ounces of gold. Indicated resource of 17,879,700 tonnes at 1.67 g/t Au containing 958,000 ounces of gold and an Inferred resource of 50,206,400 tonnes at 1.35 g/t Au containing 2,181,600 ounces of gold.
BAU GOLD: FIELD N143-101
----------------------------------------------------------------------------Reserve Category Tonnes Gold Grade (g/t) Contained Gold (oz)----------------------------------------------------------------------------Measured 3,405,600 1.52 166,900----------------------------------------------------------------------------Indicated 17,879,700 1.67 958,000----------------------------------------------------------------------------Total M & I 21,285,300 1.64 1,124,900----------------------------------------------------------------------------Inferred 50,206,400 1.35 2,181,600----------------------------------------------------------------------------
The Bau property is a brown-field project, spread over a large geographic area, in which the Company is in consortium with a Malaysian company with material Bumiputra interest that owns rights to consolidated mining tenements covering much of the historic goldfield. Besra increased its ownership of the Bau Goldfield from 83.25% to 85.05% on January 28, 2013 paying USD 2 million. (See Olympus Press Release dated January 24, 2012.)
Besra is a diversified gold company focused on four advanced properties; the Bau Goldfield in East Malaysia, Bong Mieu and Phuoc Son in Central Vietnam, and Capcapo in the Philippines. Besra expects to expand existing gold production capacity in Vietnam over the next two years and is projecting new production capacity from Bau Central during 2015 (start up and production forecasts will depend on the result of the current Jugan feasibility, which is scheduled for completion in 2013).
BESRA GOLD INC.
John A.G. Seton, Chief Executive Officer
The technical information in this press release has been prepared under the supervision of Mr. Rod Murfitt who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM), a "Competent Person", as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve" and a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Mr. Murfitt is a full-time consultant to the Company and is not "independent" within the meaning of National Instrument 43-101. Mr. Murfitt consents to the inclusion in this press release of the technical information, in the form, and context in which it appears.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain of the statements made and information contained herein is "Forward-looking information" within the meaning of applicable securities laws, including statements concerning our plans at our producing mines and exploration projects, which involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, failure to establish estimated resources or to convert resources to mineable reserves; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; delays in obtaining or failure to obtain required governmental, environmental, or other project approvals; changes in national and local government legislation or regulations regarding environmental factors, royalties, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; delays in the development of projects; shortage of personnel with the requisite knowledge and skills to design and execute exploration and development programs; difficulties in arranging contracts for drilling and other exploration and development services; dependency on equity market financings to fund programs and maintain and develop mineral properties; and risks associated with title to resource properties due to the difficulties of determining the validity of certain claims and other risks and uncertainties, including those described in each management's discussion and analysis released by the Company. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; the availability of permits and surface rights; access to financing, equipment and labour and that the political environment in the jurisdictions within which the Company operates will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT: BESRA GOLD INC.James W. Hamilton, Vice-President Investor Relations(416) 572-2525 or TF: 1-888-902-5522TF: 800-308-602 (Australia)(416) 572-4202 (FAX) (FAX)info@besra.com
www.besra.com
SOURCE: Besra
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