11th Aug 2008 13:17
For Immediate Release 11 August, 2008
Templar Minerals PLC
("Templar" or the "Company")
Update - Georgia
Templar withdraws all Staff from Georgia due to Current Security Situation.
Templar Minerals (AIM: TMP), advises that it has temporarily withdrawn the majority of its personnel from its Adjara gold and base metals exploration project in Georgia due to the current security situation. Adjara is situated in southern Georgia on the Turkish border. Templar acquired a 90% interest in the Adjara project in September 2007.
Templar are maintaining a limited local presence thereby minimising the Company's expenditure commitments. Communications have been sent to the Government of Georgia advising them of the Company's position.
The Company will be closely monitoring the situation on the ground and will advise the market of any changes. The Adjara project is still in the initial stages of its development with Phase 1 drilling having been completed, as set out in the announcement dated 12 June 2008
Contacts:
Templar Minerals Limited: +27 79 872 7587
Gordon Cassidy, Finance Director
Beaumont Cornish Limited: +44 (0) 20 7628 3396
Roland Cornish, Rosalind Hill Abrahams
Related Shares:
Arc Minerals