Slater Mining Files NI 43-101 Report for the West Khazret Gold
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/23/12 -- Slater
Mining Corporation (TSX VENTURE:SLM) is pleased to announce that
further to Slater Mining's news release of April 17, 2012, announcing
that it had entered into an agreement pursuant to which it had
acquired a three year option (the "Option") to purchase 100% of the
West Khazret Gold Project, Slater Mining has prepared a National
Instrument 43-101 compliant technical report (the "Report") for West
The Report, entitled "NI 43-101 Technical Report on the West Khazret
Gold Project, Northern Kazakhstan, July 2012", by Qualified Person -
Phil Newall, BSc, PhD, FIMMM, CEng, on behalf of Wardell Armstrong
International Ltd. can be found at www.slatermining.com and
The Option is subject to (a) receipt of approval by the Ministry of
Industry and New Technologies of the Republic of Kazakhstan which is
expected by the end of 2012 and (b) a two year extension of the term
of the Exploration Contract which was received on May 5, 2012.
About Slater Mining
Slater Mining is developing the West Khazret gold project in the
Urals Tectonic Belt in northwest Kazakhstan which is prolifically
rich in both base and precious metals. The project area covers 320km2
and contains multiple mineralised systems. The initial target is the
Sineshikhan Fault which is 3km wide, has a strike length in excess of
16 km and extends across the border to the north into Russia where
gold deposits along the structure are currently being exploited and
have been for over 100 years. Slater Mining is focused on bringing
the major oxide open pit potential to account through shallow core
drilling, metallurgical testwork and subsequent conventional heap
leach mine development. Exploration works to date include 132 drill
holes (with mineralised intercepts averaging over 1 g/t Au) and
preliminary metallurgical work indicating that the oxide
mineralisation is amenable to cyanide heap leaching giving recoveries
of greater than 75%. A 220kV power line and roads traverse the
Management has extensive experience operating in Kazakhstan. Ian
Slater, Chief Executive Officer, has worked in Kazakhstan since 1995.
Robert Bell, Vice President Projects, has worked in Kazakhstan since
1993 on numerous projects, including developing the Mizak heap leach
gold mine which is currently operated by Kazakhmys Plc. Tim Neall,
Project Geologist, has worked in Kazakhstan since 1995, most recently
with Kazakhmys Plc.
The scientific and technical information contained in this news
release has been reviewed and approved by Michael Johnson P.Geo.,
Vice President Exploration, who is a "Qualified Person" as defined
under National Instrument 43-101.
For further information on Slater Mining please refer to our website
This news release includes forward-looking statements that are
subject to risks and uncertainties. All statements within, other than
statements of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual
results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements include
market prices, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market
or business conditions. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised to
rely on their own evaluation of such uncertainties. We do not assume
any obligation to update any forward-looking statements. This news
release does not constitute an offer to sell or a solicitation of an
offer to sell any securities in the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any
state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Slater Mining Corporation
Chief Executive Officer
+1 604 638 2545
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