Etruscan achieves commercial production at the Youga Gold Mine



    HALIFAX, July 9 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported today
that it has achieved commercial production at its Youga Gold Mine, located in
Burkina Faso, West Africa. The criteria established for commercial production
stipulated that all components of the processing plant were to operate over a
thirty consecutive day period at 60% of design capacity or better with gold
production achieving at least 60% of forecast. Mill throughput for the thirty
day period ended July 7, 2008 totaled 53,764 tonnes which represents 65% of
the design throughput and 4,094 ounces of gold were produced during this
period which represents 61% of the forecast amount. Production statistics
continue to show steady improvements and the gold recovery plant continues to
operate at projected efficiency with an average gold recovery of over 93%.
Gold production is scheduled to increase during July as plant throughput and
mill feed grades reach forecast levels. At design capacity the Youga Gold Mine
will be processing 83,000 tonnes per month and recovering an average of
6,700 ounces of gold per month.
    The effective date for commercial production for accounting purposes will
be July 1, 2008, at which date gold sales and operating costs will be reported
on Etruscan's income statement. Prior to July 1, 2008 gold sales and operating
costs have been capitalized for financial accounting purposes.
    Current mineable reserves at Youga are 6.6 million tonnes with an average
grade of 2.7 grams per tonne containing 580,000 ounces of gold, which is
contained in five separate pits. The mill feed to date has come from the A2
Main pit which has mineable reserves of 4.1 million tonnes with an average
grade of 3.1 grams per tonne and a strip ratio of 6.8 to 1. Mining operations
have recently commenced at the A2 West Zone 1 pit which is scheduled to be
mined during July and August. Mineable reserves at A2 West Zone 1 are
0.5 million tonnes at an average grade of 3.0 grams per tonne with a very low
strip ratio of 1.3 to 1. A number of potential satellite gold deposits have
already been identified on the Youga mining permit within a three kilometer
radius of the existing plant and are being evaluated for conversion into
reportable resources and reserves. Furthermore, an exploration program at the
Ouare gold deposit, located 35 kilometers northeast of the Youga Gold Mine,
has generated positive results (see news release dated May 29). The Ouare
deposit has the potential to develop additional reserves to further extend the
mine life at Youga.
    Robert Harris, P.Eng., Vice President of Operations of Etruscan, is the
Qualified Person overseeing production and development in West Africa and has
reviewed and approved this press release.

    About Etruscan Resources Inc.

    Etruscan Resources Inc. is a gold focused Canadian junior mining company
with dominant land positions in district scale gold belts covering more than
13,000 square kilometers in West Africa. Its principal mine development
projects include the Youga Gold Project in Burkina Faso, the Agbaou Gold
Project in Côte d'Ivoire (press release dated February 21, 2008), and the
Finkolo Gold Project in Mali (press release dated July 2, 2008). Advanced and
early stage exploration projects are on-going in Burkina Faso, Mali, Côte
d'Ivoire, Ghana (press release dated June 10, 2008) and Namibia (press release
dated June 19, 2008). See press release dated May 6, 2008 for a comprehensive
update of explorations projects. Etruscan also has a 53.7% interest in
Etruscan Diamonds Limited which has a dominant land position in the
Ventersdorp Diamond District located in South Africa. (press release dated
June 13, 2008). The common shares of Etruscan are traded on The TSX Exchange
under the symbol "EET". More extensive information on Etruscan can be found on
its home page at http://www.etruscan.com

    This press release may contain certain forward-looking statements which
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward-looking
statements may include statements regarding exploration results and budgets,
mineral reserve and resource estimates, work programs, capital expenditures,
mine operating costs, production targets and timetables, future commercial
production, strategic plans, market price of precious metals or other
statements that are not statements of fact. Although the Company believes the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to have been correct.
Various factors that may affect future results include, but are not limited
to: fluctuations in market prices of precious metals; foreign currency
exchange fluctuations; risks relating to mining exploration and development
including reserve estimation and costs and timing of commercial production;
requirements for additional financing; political and regulatory risks, and
other risks and uncertainties described in the Company's annual information
form filed with the Canadian Securities regulators on SEDAR (www.sedar.com).
Accordingly, readers should not place undue reliance on forward-looking
statements.

    NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
    RELEASE




For further information:

For further information: Richard Gordon, Investor Relations, (877)
465-3674, Fax (902) 832-6702, rgordon@etruscan.com

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ETRUSCAN RESOURCES INC.

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