OSU Orsu Metals

 
TIDMOSU 
 
Suspension of joint exploration of Balkhash licence 
FOR:  ORSU METALS CORPORATION 
 
TSX, AIM SYMBOL:  OSU 
 
September 24, 2014 
 
Suspension of Joint Exploration of the East Balkhash 2 Licence Area in Kazakhstan 
 
LONDON, UNITED KINGDOM--(Marketwired - Sept. 24, 2014) - Following a meeting of the Board of Directors of Orsu 
Metals Corporation ("Orsu" or the "Company"), the dual listed (TSX:OSU)(AIM:OSU) London-based base and precious 
metals exploration and development company, the Company announces that it has suspended its involvement in the 
joint exploration of the Balkhash Project with Asem Tas-N LLC ("Asem Tas"). 
 
After extensive assessment of the results of the exploration programme funded by Orsu, the Directors resolved 
not to exercise the option to purchase an interest in the project on the terms set out in the Exclusivity 
Agreement announced on March 11 2014, which expired earlier this month following the extension announced on 
July 3, 2014. Further, based on the geological results and the geopolitical situation in the region, the 
Directors were also unwilling to commit further funds towards the next stage of exploration in order to secure 
a further exclusivity period. 
 
The Company has no residual funding obligation as a result of this decision. 
 
Dr Sergey V Kurzin, Executive Chairman commented: "Although the initial results for the Balkhash project were 
encouraging, resulting in the previous extensions of the exclusivity period, the subsequent results targeted at 
the most promising prospects were insufficient to justify the exercise of the option to acquire the project and 
committing Orsu to finance the minimum funding requirements. Although this is disappointing, the Board believes 
that it is in the best interests of Orsu's shareholders in what remain very challenging times for small 
exploration and development companies." 
 
 
-30- 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Orsu Metals Corporation 
Kevin Denham 
Chief Financial Officer and Company Secretary 
+44 (0) 20 7518 3999 
www.orsumetals.com 
 
OR 
 
Canaccord Genuity Limited 
Neil Elliot 
+44 (0) 20 7523 8000 
 
OR 
 
Vanguard Shareholder Solutions 
+1 604 608 0824 
 
 
 
Orsu Metals Corporation 
 

Orsu Metals (LSE:OSU)
Historical Stock Chart
From Oct 2024 to Nov 2024

Orsu Metals (LSE:OSU)
Historical Stock Chart
From Nov 2023 to Nov 2024