Armenia Re-Emerges as a Prolific and Friendly Mining Jurisdiction for
Canadian Investors
MONTREAL, Sept. 9 /CNW Telbec/ - The Armenia Canada Chamber of Commerce and Caldera Resources Inc. are pleased to announce that Dr. Areg Galstyan, the Deputy Minister of Energy and Natural Resources for the Republic of Armenia, will be in Montreal and Toronto from September 15th to September 17th as the guest of the Armenia Canada Chamber of Commerce. The Chamber will be introducing the Deputy Minister to its members and invited guests to promote Armenia as a mining-friendly jurisdiction and an up and coming destination for Canadian investors.
Since its independence from the Soviet Union in 1991, the Republic of Armenia has been experiencing strong economic and cultural growth. Armenia is well positioned to develop its economy and mineral resources, given its rich history as a prolific mining region for hundreds of years.
Mr. Azat Vartanian, the Chairman of the Armenia Canada Chamber of Commerce expressed that "it is a privilege to have such a senior government official available to introduce the Republic of Armenia to our members in Canada."
"Armenia has become a hot destination for Canadian-listed mineral exploration companies", says Bill Mavridis, Caldera Resources' president and member of the Armenia Canada Chamber of Commerce.
Mavridis points out that there are four developing success stories by Canadian-listed mineral exploration and development companies in the resource-rich Syunik Province of southern Armenia.
(1) Dundee Precious Metals Inc. is currently operating the Deno gold polymetallic (copper, gold and zinc) mine and is planning to double its operations to 600,000 tonnes per year. www.dundeeprecious.com
(2) Lydian International Ltd. is exploring the Amulsar gold deposit where it has already confirmed a resource in excess of one (1) million ounces of gold, and appears poised to increase this resource significantly. www.lydianinternational.co.uk
(3) BacTech Mining Corporation, a global leader in bioleaching technology for the recovery of gold and base metals from refractory ores, is working with Caldera Resources to acquire and develop the Lichkvaz-Tey polymetallic gold mine, also located in southern Armenia. BacTech is currently reviewing opportunities for gold and base metal recoveries from historic tailings systems located in Armenia. BacTech sees great opportunity for bioleaching in Armenia, given the government's positive approach to clean mining. www.bactech.com
(4) Caldera Resources Inc. is exploring the Marjan gold-silver deposit where it announced in mid-August positive trench results that contribute to the confirmation of its historical precious metal resources. The property is ready for the drill phase of the exploration program, which is expected to commence next spring. www.calderaresources.com
The Marjan project is located in the resource-rich province of Syunik, in southern Armenia, and has Soviet-era historical resources classified as C1 and C2, which is equivalent to measured and indicated resources, totaling 405,147 oz of gold and 14.2M oz of silver. The project also contains Soviet-era historical resources classified as P1, which is equivalent to inferred resources, totaling 647,152 oz of gold and 37.1M oz of silver. Caldera recently announced results of its trenching program where it confirmed 17.2 grams per tonne of gold and 344 grams per tonne of silver over 3.2 meters. The Marjan project is a joint venture project. Please see Caldera press release dated August 17, 2010. http://www.calderaresources.com/press-releases-gold-armenia
About the Republic of Armenia
The Republic of Armenia is a landlocked mountainous country in the Caucasus region of Eurasia, which is situated at the juncture of Western Asia and Eastern Europe. Armenia is bordered by Turkey to the west, Georgia to the north, the de facto independent Nagorno-Karabakh Republic and Azerbaijan to the east, and Iran and the Azerbaijani exclave of Nakhchivan to the south, border Armenia.
Armenia has a strong mining heritage dating back hundreds and even thousands of years. During the Soviet-era Armenia was a major producer of Copper and Molybdenum. Approximately seventeen mining and metallurgical enterprises are in operation. The largest enterprises mine for copper and molybdenum ore or extracted gold from tailings. The mining industry represents approximately 5% of the country's GDP.
"A former republic of the Soviet Union, Armenia is a unitary, multiparty, democratic nation-state with an ancient and historic cultural heritage. The modern Republic of Armenia recognizes the Armenian Apostolic Church as the national church of Armenia, although the republic has separation of church and state. Armenia is a member of more than 40 international organizations, including the United Nations, the Council of Europe, the Asian Development Bank, the Commonwealth of Independent States, the World Trade Organization, World Customs Organization, the Organization of the Black Sea Economic Cooperation, and La Francophonie. It is a member of the CSTO military alliance, and also participates in NATO's Partnership for Peace (PfP) programme. In 2004 its forces joined KFOR, a NATO-led international force in Kosovo. It is also an observer member of the Eurasian Economic Community and the Non-Aligned Movement. The country is classified as an emerging democracy."
http://en.wikipedia.org/wiki/Armenia
About The Armenia-Canada Chamber of Commerce
The Armenia-Canada Chamber of Commerce (ACCC). ACCC is a Non-for-Profit corporation with Head-Quarters located in Montreal, Canada. It was established in 2008 to serve Canadian entities who are interested in the Armenian market and Armenian entities who are interested in the Canadian market. http://www.armcanchamber.com/
About Caldera Resources Inc.
The Corporation's main business is the acquisition, exploration and development of gold projects in Armenia. Caldera is currently developing the Marjan Gold-Silver Project in southern Armenia.
Caldera is also pursuing the acquisition of the Lichkvaz-Tey Gold Project with its strategic partner, BacTech Mining Corporation. The gold resources of the Lichkvaz-Tey project are refractory and require the use of BacTech's proprietary bioleaching technology to enhance recovery. The Armenian government currently owns the project.
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources. For more information on the Historical Soviet-Era Resources on the Marjan Project, please see our NI 43-101 Report published on SEDAR and our on our web site.
For more information about Caldera Resources and the Armenia-Canada Chamber of Commerce or to schedule a meeting or interview with Dr. Galstyan please contact Glenn Massad at (514) 585-2236 or [email protected]
For further information:
Mr. Azat Vartanian
Chairman
Armenia Canada Chamber of Commerce
514-999-4919
Mr. Bill (Vasilios) Mavridis
President, Caldera Resources Inc.
514-813-9200
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