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18/11/2011

Lydian Intl says its Amulsar gold project will be a big part of the Armenian economy

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Market: TSX
Sector: General Mining - Gold
EPIC: LYD
Latest Price: C$2.19  (-2.01% Descending)
52-week High: C$3.09
52-week Low: C$1.96
Market Cap: C$270.39M
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Lydian International
www.lydianinternational.co.uk

Lydian International is a mineral exploration and development company with expertise and a proven track record in discovering and developing new gold projects in unfamiliar and frontier settings. The Company is currently focussed on developing its Amulsar gold discovery in southern Armenia. The Amulsar project was a new discovery made by Lydian in 2006 and currently hosts a global resource of 3.2M ounces after its resource update in January 2012. This resource update comprises a total of 1.7 million ounces gold in the indicated category and 0.6 million ounces gold in inferred category (using a 0.4g/t cut-off) from the contiguous Tigranes and Artavasdes areas and 0.5 million ounces gold in the indicated category and 0.4 million ounces inferred category from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes. The project remains open in all directions and is currently advancing towards Bankable Feasibility with full production due in the first half of 2014.

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Lydian intersects new gold 200m NE of resource at Amulsar project in Armenia

17th Nov 2010, 8:46 am

Lydian International (TSX:LYD) said Tuesday that it has discovered a new area of gold at its Amulsar gold project in Armenia, and further defined the high-grade "feeder zone" the company uncovered in August.

"We are consistently returning further higher grade from infill drilling and more gold in exploratory drilling at Amulsar," said president and CEO Tim Coughlin.

The new area was found via exploration drill hole DDA-061, which is located 200 metres to the north of the resource envelope at the Tigranes zone and intersected 23.6m at 1.1g/t gold.

Lydian said that the intersection was drilled in an area where gold mineralization was previously unknown, and may represent a new mineralized structure extending northeastward for some 250 metres from the known gold on the eastern side of Tigranes.

Diamond drill hole DDA-066, which was positioned to test the dimensions of the higher grade "feeder zone" in the Artavasdes area, returned 67 metres at 1.7g/t gold (including 17m at 3.0 g/t) in the hangingwall of the feeder zone, and a further 29m at 1.0g/t gold from a mineralized zone located higher up in the hole.

The company said that results from diamond drilling will continue to be released well into December.

Amulsar is a high-sulfidation style gold project, which currently hosts a CIM compliant inferred category resource of 1.4 million ounces at 0.9g/t gold. Lydian also has a pipeline of early-stage gold and base metal exploration projects in the Caucasus regions.

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