Amur Minerals Corporation NRR Update (2549D)

TIDMAMC

RNS Number : 2549D

Amur Minerals Corporation

27 October 2020

27 October 2020

Amur Minerals Corporation

("Amur" or "the Company")

NRR Update

Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that certain existing shareholders of Nathan River Resources Pte Limited ("NRR"), have opted to provide further US$10 million in equity financing to NRR to provide additional working capital to advance the shipment of stockpiles and processing of mined blocks at the Roper Bar Iron Ore project in the Northern Territories, Australia, in order to take advantage of the current high iron ore prices.

Amur was offered the opportunity to participate in the additional equity but declined in order to focus existing funds on the Kun-Manie nickel/copper sulphide project. Following the additional equity investment into NRR, Amur's convertible loan notes will be convertible into 13.43 per cent of the current issued share capital of NRR .

Adam Habib, President of Amur Minerals Corporation, commented :

"NRR has exceeded our expectations in regards to the rehabilitation of the infrastructure and the mine start up process. The increased shipment targets for this year will deliver dividends in the long run that will capture the higher iron ore prices and will enable NRR to reach profitability sooner. "

For more information on the Roper Bar Iron Ore project, visit the NRR website on www.nathan-river.com

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

 
       Company            Nomad and Broker        Public Relations 
  Amur Minerals Corp.    S.P. Angel Corporate        Blytheweigh 
                             Finance LLP 
   Robin Young CEO        Richard Morrison           Megan Ray 
                            Soltan Tagiev            Tim Blythe 
                           [phone] 
  [phone]             0470           [phone] 
 

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October 27, 2020 03:00 ET (07:00 GMT)