Etruscan's Youga Gold Mine expects to achieve commercial production end of June

    HALIFAX, June 17 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported today
that its Youga Gold Mine, located in Burkina Faso, West Africa poured in
excess of 2,200 ounces during the first two weeks of June and it is
anticipated that the mine will achieve commercial production by June 30.
Production statistics and solution grades continue to show steady improvements
and the gold recovery plant continues to operate at projected efficiency with
an average gold recovery of over 92%. Gold production is scheduled to increase
over the next 4-6 weeks as plant throughput and 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 following table summarizes the operating results during the initial
three month ramp up period:

                                      March     April      May   June 1-16
    Tonnes Milled                    52,136    57,429   54,935      33,233
    Head Grade (g/t)                   1.67      1.43     1.70        2.34(*)
    Gold Poured (oz)                  1,804     1,747    2,670       2,242

    (*) Reconciled head grade for the period June 1-13

    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. Current mining and production comes 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. PW Mining has
mobilized additional equipment, which is now on site, to allow mining of the
A2 West Zone 1 pit to commence sooner than scheduled. Grade control drilling
of the upper benches of the A2 West Zone 1 pit is almost completed and the pit
will be opened up over 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. Gold production from Youga for the calendar year
is now forecast at 50,000 to 60,000 ounces.

    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 gold mine development
projects include the Youga Gold Project in Burkina Faso, the Agbaou Gold
Project in Côte d'Ivoire (latest press release dated February 21, 2008), and
the Finkolo Gold Project in Mali (latest press release dated January 7, 2008).
Advanced and early stage exploration projects are on-going in Burkina Faso,
Mali, Côte d'Ivoire, Ghana and Namibia (see press dated May 6, 2008). 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
where it is developing the Blue Gum Diamond Project (press release dated
June 12, 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

    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 (
Accordingly, readers should not place undue reliance on forward-looking


For further information:

For further information: Richard Gordon, Investor Relations, (877)
465-3674, Fax (902) 832-6702,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890