KLIROU - CYPRUS

Released an updated for the Klirou Copper-Zinc project, announcing that an independent review of the preliminary feasibility study highlighted the following key areas for further work in a full feasibility study for the Klirou Project: • Diamond core drilling to verify and upgrade categorisation of known resources, as well as collecting samples for further metallurgical testwork. • Further assessment of the refurbishment of the nearby Mitsero processing plant, as well as preparation of a metallurgical plan for the resources and a processing strategy. • Collection and collation of firm cost estimates.

Completed the primary feasibility study on the Klirou project. The company reported a JORC-compliant inferred resource of 6.6 million tonnes at 0.7% copper-equivalent.

The commencement of a pre-feasibility study for the development of the Klirou prospect was announced. The Klirou resource estimate has increased to 4.4 million tonnes at 0.84% copper-equivalent (copper plus zinc) and an initial resource of 1.2 million tonnes at 0.90% zinc has been estimated at the nearby South Mathiatis prospect. A disused base-metals processing plant and associated tailings facility is owned by Hellenic Mining, and has the potential to be refurbished and re-commissioned at a relatively low cost over a short time.