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MANAS RESOURCES RECEIVES KEY APPROVAL FOR SHAMBESAI GOLD PROJECT
TEO AUTHORISATION PROVIDES COMMENCEMENT OF SCHEDULE TO GOLD PRODUCTION

 Approval of the TEO Study (Russian interpretation for Justification of Technical and Economic Conditions) for the Shambesai Gold Project has been received
 TEO approval is the key authorisation required for the commencement of detailed design, permitting, construction and gold production at Shambesai
 Permitting continues with social and environmental studies being conducted for a number of months
 Schedule now in place for construction to commence in 2013; gold production forecast for early 2014
 New Kyrgyz Republic legislation recently enacted to simplify the permitting process for minedevelopment
 Shambesai has a projected net cash flow of US$208M after capital expenditure of US$37M from production of 245,000 ounces of gold at an average grade of 2.8g/t gold over an initial 4 ½‐year mine life (US$1,500 per ounce gold price) with average life‐of‐mine cash costs (C1 costs) of US$411 per ounce
 Debt financing options now being considered

<blockquote data-quote="springhill" data-source="post: 727297" data-attributes="member: 9415">MANAS RESOURCES RECEIVES KEY APPROVAL FOR SHAMBESAI GOLD PROJECTTEO AUTHORISATION PROVIDES COMMENCEMENT OF SCHEDULE TO GOLD PRODUCTION Approval of the TEO Study (Russian interpretation for Justification of Technical and Economic Conditions) for the Shambesai Gold Project has been received TEO approval is the key authorisation required for the commencement of detailed design, permitting, construction and gold production at Shambesai Permitting continues with social and environmental studies being conducted for a number of months Schedule now in place for construction to commence in 2013; gold production forecast for early 2014 New Kyrgyz Republic legislation recently enacted to simplify the permitting process for minedevelopment Shambesai has a projected net cash flow of US$208M after capital expenditure of US$37M from production of 245,000 ounces of gold at an average grade of 2.8g/t gold over an initial 4&nbsp; ½‐year mine life (US$1,500 per ounce gold price) with average life‐of‐mine cash costs (C1 costs) of US$411 per ounce Debt financing options now being considered</blockquote>

[QUOTE="springhill, post: 727297, member: 9415"] [B]MANAS RESOURCES RECEIVES KEY APPROVAL FOR SHAMBESAI GOLD PROJECT TEO AUTHORISATION PROVIDES COMMENCEMENT OF SCHEDULE TO GOLD PRODUCTION[/B]  Approval of the TEO Study (Russian interpretation for Justification of Technical and Economic Conditions) for the Shambesai Gold Project has been received  TEO approval is the key authorisation required for the commencement of detailed design, permitting, construction and gold production at Shambesai  Permitting continues with social and environmental studies being conducted for a number of months  Schedule now in place for construction to commence in 2013; gold production forecast for early 2014  New Kyrgyz Republic legislation recently enacted to simplify the permitting process for minedevelopment  Shambesai has a projected net cash flow of US$208M after capital expenditure of US$37M from production of 245,000 ounces of gold at an average grade of 2.8g/t gold over an initial 4 ½‐year mine life (US$1,500 per ounce gold price) with average life‐of‐mine cash costs (C1 costs) of US$411 per ounce  Debt financing options now being considered [/QUOTE]

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