Azerbaijan produces 650 kg gold from Gedabek mine

Anglo Asian Mining plc, the AIM listed gold producer, is pleased to provide an update on operations and production for the three months to 30 June 2012 (‘Q2 2012’) and the first half of the 2012 financial year (‘H1 2012’) at its flagship Gedabek gold/copper/silver mine (‘Gedabek’) in Azerbaijan.

Gold production from heap leach processing totalled 11,716 oz at Gedabek for Q2 2012 (Q1 2012: 9,925 oz). Gold sales of 9,883 oz of gold at an average of US$1,609 per oz completed for the quarter. Silver dore production for Q2 2012 totalled 4,504 oz (Q1 2012: 7,670 oz). Improving ore stacking process - 238,058 tonnes of dry ore transferred during Q2 2012 onto the leach pad with an average gold content of 3.24 g/t. Copper, silver and gold production from SART operations for Q2 2012 totalled 105 tonnes of copper concentrate, 25,853 oz of silver and 9 oz of gold. For H1 2012 gold production from heap leach operations totalled 21,641 oz, silver production in dore totalled 12,174 oz and copper metal concentrate production from SART totalled 253 tonnes and silver in SART totalled 60,500 oz.

Target of 720 tonnes of copper concentrate expected from SART operations.

Maiden JORC compliant reserve estimate of 20,312,879 tonnes at Gedabek at 1.139 g/t gold for 744,038 ounces, 0.293% copper for 59,479 tonnes, and 9.456 g/t silver for 6,175,531 ounces (as at 30 December 2011) - exceeded management’s expectations.


/APA/