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Message: Lero Gold Corp. Announces NI 43-101 Compliant Mineral Resource for Taldybulak-Ta

Lero Gold Corp. Announces NI 43-101 Compliant Mineral Resource for Taldybulak-Ta

posted on Apr 25, 2008 08:13AM
Lero Gold Corp. Announces NI 43-101 Compliant Mineral Resource for Taldybulak-Talas Copper-Gold Project, Kyrgyzstan
Lero Gold Corp. LER
4/25/2008 11:25:30 AM
LONDON, UNITED KINGDOM, Apr 25, 2008 (MARKET WIRE via COMTEX News Network) --

Lero Gold Corp. ("Lero", or the "Company") (TSX VENTURE: LER) is pleased to announce a National Instrument 43-101 compliant resource estimate for the Taldybulak-Talas copper-gold porphyry deposit, northwest Kyrgyzstan.

The resource estimate has been calculated at various gold cut-off grades and incorporates all drilling data obtained for the Taldybulak-Talas copper-gold project from the 2007-2008 drilling programmes completed in Q1 2008. At a 0.30g/t gold cut-off, the Indicated resource is 79Mt @ 0.63g/t Au and 0.17% Cu with the Inferred resources totalling 163Mt @ 0.58g/t Au and 0.14% Cu.

Table 1; Taldybulak-Talas Copper-Gold Project, Mineral Resource Estimate (Lero -April 2008)

Cut-off Au ------------------------------------------------
g/t Mt Au g/t Au Moz Cu % Cu Mlb Au_eq Au_eq
g/t Moz
0.20 107 0.53 1.83 0.17 388 0.95 3.24
0.30 79 0.63 1.61 0.17 301 1.07 2.71
0.40 61 0.72 1.40 0.18 238 1.17 2.27
0.50 45 0.81 1.18 0.18 181 1.27 1.84
Cut-off Au ------------------------------------------------
g/t Mt Au g/t Au Moz Cu % Cu Mlb Au_eq Au_eq
g/t Moz
0.20 286 0.43 3.99 0.14 876 0.78 7.18
0.30 163 0.58 3.03 0.14 492 0.92 4.82
0.40 115 0.68 2.50 0.13 336 1.01 3.73
0.50 87 0.75 2.10 0.13 247 1.07 3.00
Note: Au_eq equals Au g/t + 2.5x Cu %
Metal equivalent: metallurgical recoveries and net smelter
returns are assumed to be 100%

The resource is based on 20 historical Soviet holes (5,078m) and 34 diamond holes (8,484m) drilled by Lero from 2005 through to 2008; a total of 9,534m of surface trenching data was also included in the modelling and interpolation. The mineralisation is located within an east-west trending linear porphyry, with a surface exposure of 1,000m x 400m. The above resource is calculated down to a depth of 500m below surface and is fully supported by drilling; no extrapolation of the resource below the base of the current drilling information was undertaken. The mineralisation remains open to the west and at depth, where an interpreted high-grade core (0.7-0.9g/t Au) was intersected during the 2007 drilling programme.

The resources were calculated within a constrained geological wireframe, limited by external pyrite halo defined by an induced polarization survey and verified by drilling. Post-mineral dykes were modelled and excluded from the reported volume and interpolation run. Results from systematic variography analysis formed the basis for assigning resource categories with Indicated mineralisation being assigned to all material falling within an isotropic search ellipse with a maximum range of 100m and Inferred mineralisation being assigned within a 200m range. Log Normal Kriging was the selected algorithm utilised for the interpolation of grade.

CEO of Lero, Dr Alexander Yakubchuk commented:

"We are very pleased to receive this encouraging result for the Taldybulak-Talas project, it shows that the portion of the system explored to date contains an Indicated resource of up to 1.6Moz of gold and 300Mlb of copper. This metal content makes the project comparable to its international peers in South America and Australia. Our work during the forthcoming field season will be focussed on converting the Taldybulak-Talas Inferred resource to higher categories and testing additional potential in the adjacent licence areas. These results set a new hurdle for the next stage of exploration within the Talas valley, the aim moving forward is to delineate other porphyry systems within the same belt and fully evaluate the potential of Taldybulak".

Chairman of Lero, Dr Sergey V. Kurzin commented:

"Results of this resource calculation demonstrate that Lero's Taldybulak-Talas deposit is fast becoming the second largest gold resource in Kyrgyzstan after Kumtor. With the recently announced resource estimate for our Karchiga VMS project in Kazakhstan and now for Taldybulak-Talas' in Kyrgyzstan, Lero is building a solid base for significant future growth and development."

Notes to Editors:

1. Lero Gold Corporation (TSX VENTURE: LER) is a base and precious metal exploration company led by a senior management team with extensive expertise in mineral exploration and advanced project management. In July, 2006 Oriel Resources Plc completed its previously announced transfer and sale of its gold related assets into Lero Gold Corporation ('Lero') (formerly ELE Capital Corporation - 'ELE'). Lero resumed trading on TSX Venture Exchange (TSX-V) on Thursday July 27, 2006 under the trading symbol "LER". Lero Gold is currently seeking and evaluating advanced exploration stage gold and base metal projects in Kazakhstan and Kyrgyzstan. The Company is currently exploring advanced staged gold deposits in the Tien Shan gold belt in the Kyrgyz Republic and Rudny Altai belt in the Republic of Kazakhstan.

2. Information Concerning Estimates of Measured, Indicated and Inferred Resources. This market announcement also uses the terms 'indicated resources' and 'inferred resources'. Lero Gold Corp. advises investors that although these terms are recognised and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognise them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

3. Resource estimations were carried out by Julian Woodcock and reviewed by Matthew Boyes (Senior Geologist and a Qualified Person under National Instrument 43-101). Assays are conducted at the internationally certified Alex Stewart Lab in Bishkek, Kyrgyzstan. Lero Gold Corporation operates a stringent QA/QC policy that includes external certified standard samples and blanks in each individual batch sent for analysis. Wardell Armstrong International is currently reviewing methodology and interpolation parameters used in the block model.

4. For avoidance of confusion;

a. The Taldybulak-Talas copper gold porphyry is a separate deposit from the Taldybulak Levoberezhny gold deposit previously owned by Central Asia Gold Limited, and

b. The Talas Copper Gold Limited Liability Company, the holder of the Lero owned Taldybulak licence, is a separate company from Talas Gold Mining Company which owned the Jerooy Gold project.

5. In November 2006, Lero granted Gold Fields Exploration B.V. an option to enter into a joint venture agreement with the Company under which Gold Fields Exploration B.V. has the right to;

a. earn up to a 60% interest in exploration licences on the Kentash, Taldybulak and Korgontash tenements in the Talas Region by funding exploration expenditures of up to CAD$10 million, and

b. increase its interest in the project by a further 10% (to a total of 70%) by funding the expenditure of up to a further CAD$10 million on a feasibility study. Thereafter, Gold Fields Exploration B.V. and Lero will contribute to the project requirements on a pro-rata basis through to development, if appropriate.

6. Gold Fields Exploration B.V. is an indirect wholly owned subsidiary of Gold Fields Limited.

The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this release.

Lero Gold Corporation
Alexander Yakubchuk
+44 (0) 20 7514 0590

Lero Gold Corporation
Gavin Dallas
Marketing and PR
+44 (0) 20 7514 0590
Email: [email protected]
Website: www.lerogold.com

Vanguard Shareholder Solutions
Keith Schaefer
(604) 608-0824

Bankside Consultants
Michael Padley / Michael Spriggs
+44 (0) 20 7367 8888

SOURCE: Lero Gold Corporation

mailto:[email protected] http://www.lerogold.com

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