LONDON, UNITED KINGDOM — (Marketwired) — 09/20/13 — Orsu Metals Corporation („Orsu“ or the „Company“), the dual listed (TSX: OSU)(AIM: OSU) London-based base and precious metals exploration and development company, today announces that it has entered into a new exclusivity agreement (the „Agreement“) with Asem Tas-N LLC („Asem Tas“) to continue joint exploration of the Balkhash Project and has agreed an amended work programme for the remainder of 2013 („Amended 2013 Work Programme“). The Agreement replaces the exclusivity agreement announced on April 22, 2013 („April 2013 Agreement“), which in turn replaced the original exclusivity agreement announced in November 2012.
The key terms of the Agreement are summarised below:
Further details on the Balkhash Project are available in the Company-s announcement dated November 12, 2012.
Notes to Editors:
1. All $ figures are United States Dollars unless otherwise indicated.
FORWARD-LOOKING INFORMATION
This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, but may not be limited to, the expected exploration activities by the Company related to, and the general development of, the Balkhash Project, and the anticipated funding of exploration and other costs by Orsu.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, uncertainties in the interpretation of drill and test results, risks normally incidental to exploration and development of mineral properties, the possibility that future exploration, development and/or mining results will not be consistent with expectations, the Company-s inability to raise additional finance as and when needed, the Company-s inability to obtain, maintain, renew and/or extend required licences, permits, authorizations and/or approvals from the appropriate regulatory authorities (including an inability to obtain the waiver of the Kazakh Government-s pre-emptive right in connection with the Licence transfer application) and other risks relating to the regulatory framework in Kazakhstan and adverse changes in the political environment and laws in Kazakhstan.
The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the Company has made assumptions about: the Company-s business, the economy and the mineral resources development and extraction industry in general; the Company-s ability to raise required additional financing; the ability to obtain, maintain, renew and/or extend required permits, licences, authorizations and/or approvals from the appropriate regulatory authorities (including in connection with the Licence transfer application); and the ability to continue to obtain qualified staff and equipment in a timely and cost-efficient manner to meet demands. The Company has also assumed that no significant events occur outside of the Company-s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
Contacts: Orsu Metals Corporation Dr Alexander Yakubchuk Chief Operating Officer +44 (0) 20 7518 3999
Canaccord Genuity Limited Andrew Chubb +44 (0) 20 7523 8000
Canaccord Genuity Limited Ryan Gaffney +44 (0) 20 7523 8000
Vanguard Shareholder Solutions +1 604 608 0824
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