Auriant Mining AB (publ.) publishes H1 2019 operational update

Tardan Production

During H1 mining continued at the Pravoberezhniy deposit, which will be the main source of ore in 2019.  189,200 tonnes of ore was mined at an average grade of 2.59 g/t. Also, 515,000 m3 of stripping works was carried out. In H1 2018, no mining operations were carried out as Auriant made the decision to halt mining operations at Tardan in order to save the ore for the CIL plant, and thus, maximize long term value for shareholders. As planned, the Company resumed mining operations at Tardan in July 2018.

In H1 2019, Tardan continued production on the heap leach. 172,600 tonnes of ore with an average grade of 2.23 g/t were stacked. In H1 2019, heap leach gold production amounted to 227.3 kg (7,308 oz), an increase of 106% compared to 110.3 kg (3,545 oz) in H1 2018. The Company will continue stacking low grade ore on the heap leach until the end of Q3 and will continue irrigating the heap leach until the end of the year.

The Company is accumulating high grade ore for processing at the CIL plant once it is up and running.  At the end of H1 2019, 21,000 tonnes of ore with an average grade of 5.43 g/t were accumulated on the ore yard.  The Company will continue saving high grade ore until the CIL commences.

Solcocon Production

In May 2019, alluvial production resumed at Solcocon. This production is 100% outsourced. In 2018, the Company engaged 2 contractors working on 2 placers, and the same contractors continue to work in 2019.

During the reporting period, the Company produced 27.4 kg (880 oz) of alluvial gold compared to 18.3 kg (587 oz) produced in the previous period.

Tardan CIL Construction

The Company continues construction of the CIL plant. Construction works are now almost complete and all processing equipment is installed. Capacitive equipment successfully passed water tests and we continue to work on interior works, piping connection of equipment, inner power lines (including high voltage lines of 6 kV) and commutation of the equipment to these power lines, electric power control and distribution, ventilation and heating, equipment automation and control, fire safety controls. 

The Q1 operational update suggested that the CIL plant would commence production at the end of August. Despite the fact that the construction process has progressed without any major deviations from the initial plan, we expect that the start date will move to mid-September. The 2019 production target of 940 kg of gold remains unchanged – in order to compensate for the shorter period of CIL production in 2019, the crushing period will be extended with higher production on the heap leach, and we will continue to accumulate high grade ore for CIL processing in 2019.

Production

Tardan

For more information, please contact:

Sergey Ustimenko tel: +7 495 109 02 82
e-mail: sergey.ustimenko@auriant.com

Company name: Auriant Mining AB Short name: AUR
ISIN-code: SE0001337213

Website: www.auriant.com

Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including two operating mines (Tardan and Solcocon), one early stage exploration asset and one development asset.

Since July 19, 2010, Auriant Mining´s shares are traded on First North Premier at the NASDAQ Nordic Exchange under the short name AUR. For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50, e-mail CA@mangold.se or visit www.mangold.se.

This information is information that Auriant Mining AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 11.30 CET on July 15th , 2019.

Cautionary Statement: Statements and assumptions made in this report with respect to Auriant Mining AB’s (“AUR”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts

This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.

Attachment

• Q2_2019_Press release (Operational) - ENG