10th Dec 2007 07:00
Frontier Mining Ltd10 December 2007 10 December 2007 AIM: FML Frontier Mining Ltd ("Frontier" or "the Company") Issue of Equity Update Further to the announcement on 29 November 2007, Frontier confirms thatapplication has been made for 85,538,495 new shares of Frontier to commencetrading on AIM from 13 December 2007. CREST Admission The shares to be placed pursuant to the Benkala Acquisition will not be eligiblefor settlement through the CREST system for at least 12 months from the Placing.The 85,538,495 new shares to be admitted to AIM on 13 December 2007 are deemed'restricted securities' under the US Securities Act of 1933. Enquiries: Frontier Mining Ltd Brian Savage +44 (0)20 7898 9019Parkgreen Communications Louise Goodeve / Justine Howarth +44 (0)20 7851 7480Zimmerman Adams Ray Zimmerman / Jonathan Evans +44 (0)20 7060 1760 About Frontier Mining Ltd: Frontier Mining Ltd. is a mineral exploration and development company that wasincorporated in the state of Delaware, USA, on 5 August 1998 for the purpose ofexploring and developing gold and copper deposits in the Republic of Kazakhstan.Through its subsidiaries and affiliates, Frontier locates, evaluates,acquires, explores and develops mineral properties Frontier has three licenses in Kazakhstan. They are the Naimanjal explorationand mining licence, held by FML Kazakhstan, the Baltemir exploration licence,held by Baltemir LLP and, 50% of U.S. Megatech Inc. which holds the Benkalalicence. FML Kazakhstan and Baltemir LLP are wholly-owned subsidiaries ofFrontier Mining Ltd. Frontier has one producing gold mine, Naimanjal; onepre-feasibility stage gold project, Koskuduk; and one exploration stage goldprospect, Baltemir. Frontier also has a potential copper porphyry deposit with associated gold andmolybdenum, Baitimir; and several copper/gold prospects along a 25-km trendincluding both VMS and porphyry types. Metallurgical tests on its Beschoku andYubileiny copper projects confirm the oxide copper ore is amenable to extractionusing low cost SX-EW technology. Frontier owns a 50% interest in the joint venture company that owns the Benkalacopper-molybdenum-gold deposit located in northwestern Kazakhstan within theUrals gold/copper ore belt. A Competent Persons Report ("CPR") on the Benkalaproject completed by Wardell Armstrong International ("WAI") in March 2007estimates 47.75 Mt at an average grade of 0.36% Cu for the oxide mineralization,and 873.75 Mt at an average grade of 0.30% Cu for the sulphide mineralisation. Issued and Fully Diluted Ordinary Shares Frontier shares are traded on the AIM market of the London Stock Exchange. Following admission of the new shares, the share capital will be 218,120,082 and6,057,091 reserved and outstanding options giving 224,177,173 fully dilutedordinary shares. Further company information may be accessed at the Frontier Mining Ltd. websiteat: www.frontiermining.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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