Orsu Metals Corporation

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Orsu Metals Corporation

London, United Kingdom
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News Article | May 3, 2017
Site: www.accesswire.com

WHITE ROCK, BC / ACCESSWIRE / May 3, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") announces that it filed its annual audited financial statements for the fiscal year ended December 31, 2016 and the related management's discussion and analysis and annual information form on www.sedar.com on April 28, 2017. The provincial securities commissions revoked the cease trade order that was imposed on April 6, 2017 and the TSX Venture Exchange will reinstate the Company's shares to trade at the opening of trading on Thursday, May 4, 2017. 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. For further information, please contact:


WHITE ROCK, BC / ACCESSWIRE / May 18, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") is pleased to announce that it has closed the purchase of the initial 30% interest in Sibzoloto Investments Limited ("Sibzoloto"), the indirect holder of the Sergeevskoe gold project in Russia on the terms as amended and announced on March 23, 2017. On May 18, 2017, the Company issued a total of 165,591,520 common shares to the four arm's length selling shareholders (the "Sellers") of Sibzoloto in exchange for 30% of the shares of Sibzoloto. Concurrent with closing, Sergei Stefanovich was appointed a director and to the newly created office of Managing Director and Vladimir Pakhomov was appointed as a non-executive director of the Company. Dr Sergey V. Kurzin continues in his role as a director and Executive Chairman and Mark Corra and David Rhodes as non-executive directors. Alexander Yakubchuk stepped down as a Board Member and was appointed Director of Exploration. Sergei Stefanovich is a lawyer by initial training and received an MBA from IMD (Institute for Management Development), Lausanne, Switzerland. He has over 16 years of corporate finance, strategy & business development experience principally focused on Russia and larger FSU area. He has managed a public equity mining fund that invested into junior mining companies and was Director (Strategy and M&A) for Norilsk Nickel and a past Board member of Gold Fields Limited. He served as a legal counsel for Sputnik private equity funds, AT&T & McKenna & Co. He resides in Moscow and is fluent in Russian and English. Vladimir Pakhomov is a Managing Partner of Olympia Capital, an asset management and merchant banking firm specializing in investment opportunities primarily in Russia and CIS (2011 - present). He was the Investment Director with Onexim Group (2007 - 2010). He graduated Moscow Institute of International Relations and is CFA Charterholder. Mr. Pakhomov resides in Moscow and is fluent in Russian and English. The Sergeevskoe Project is owned by Sibzoloto, a Cyprus registered company, which in turn is the sole owner of both LLC GK Alexandrovskoe, holder of the Sergeevskoe license, and LLC Invest Realty, the owner of a work camp and infrastructure to support the nearby Sergeevskoe Project. As announced on March 23, 2017, the initial payment of US$180,000 at closing will be deferred and will bear interest at the rate of 8% per annum until paid with payment due the earlier of Orsu being funded by equity or the sale of the Karchiga Project in Kazakhstan. Orsu has agreed to fund a US$1,500,000 (US$460,000 already funded) exploration program on the Sergeevskoe Project before the first anniversary of closing. If the sale of Karchiga completes prior to September 30, 2017, then within 10 days, the Sellers will sell and Orsu will purchase the remaining 700 (70%) of the shares of Sibzoloto for consideration of €700 and US$420,000 cash. In the event the sale of Karchiga does not close before September 30, 2017, Orsu and the Sellers will own a 30% and 70% participating interest in Sibzoloto respectively. Orsu and the Sellers will negotiate the terms of a shareholder's agreement at that time to govern the operations of Sibzoloto and to provide for an option for Orsu to acquire or earn, and the Sellers to sell or transfer, the remaining 70% of the shares of Sibzoloto. The prior approval of the Exchange will be obtained in the event the parties determine that the consideration for the second sale shares will be paid and settled in shares of the Issuer. Orsu announced on March 15, 2017 the filing of the report titled "NI 43-101 Technical Report for the Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation" dated March 10, 2017 with an effective date of November 18, 2016, on the Company's profile on www.sedar.com. Orsu has been conducting, and funding, an exploration program on the Sergeevskoe Project since receiving the necessary government approvals in mid-November 2016. The program was funded by Orsu. The Phase 1 program will include an environmental baseline study, a ground magnetic survey, a 1314 m trenching programme and an initial 800 m confirmation drilling program in 3 holes. The environmental base line report was completed in mid-February 2017 by the Laboratory of Environmental Problems ("LEP"). LEP concluded that the surface waters chemical and physical properties are similar to natural concentrations with some soil and stream bed samples containing elevated concentrations of copper, zinc, arsenic and sulphur due to an influence of the historical mining works. In November-December 2016, Geoekspert completed a ground magnetic survey. The entire license area was covered by north-south traverses spacing 50 m. Orsu then contracted Reid Geophysics, a UK based geophysical company, to undertake all necessary processing, which required significant levelling of the sampling noise possibly accumulated due to data collection at cold temperatures. A set of acceptable magnetic maps was then generated. These maps (Figure 1) will be used during the ongoing exploration works. To view the graphic, please click here Orsu completed all trenching works, which comprised 1,314 m in 9 trenches. This consisted of four long trenches across Zone 23, two long trenches across Kozie, one short trench at Kozie and two short trenches (K-1042 and K-1025) near the eastern boundary of the Sergeevskoe license. This completes our winter trenching programme. To view the graphic, please click here The assays for the trenching are undergoing QAQC before any results can be relied upon and announced. Orsu is working through the QAQC protocols with the SGS assay laboratory in Chita, Russia. This release and the technical data reported has been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101. 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. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "suggest," "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the timing of, the sale of Karchiga. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. For further information, please contact: WHITE ROCK, BC / ACCESSWIRE / May 18, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") is pleased to announce that it has closed the purchase of the initial 30% interest in Sibzoloto Investments Limited ("Sibzoloto"), the indirect holder of the Sergeevskoe gold project in Russia on the terms as amended and announced on March 23, 2017. On May 18, 2017, the Company issued a total of 165,591,520 common shares to the four arm's length selling shareholders (the "Sellers") of Sibzoloto in exchange for 30% of the shares of Sibzoloto. Concurrent with closing, Sergei Stefanovich was appointed a director and to the newly created office of Managing Director and Vladimir Pakhomov was appointed as a non-executive director of the Company. Dr Sergey V. Kurzin continues in his role as a director and Executive Chairman and Mark Corra and David Rhodes as non-executive directors. Alexander Yakubchuk stepped down as a Board Member and was appointed Director of Exploration. Sergei Stefanovich is a lawyer by initial training and received an MBA from IMD (Institute for Management Development), Lausanne, Switzerland. He has over 16 years of corporate finance, strategy & business development experience principally focused on Russia and larger FSU area. He has managed a public equity mining fund that invested into junior mining companies and was Director (Strategy and M&A) for Norilsk Nickel and a past Board member of Gold Fields Limited. He served as a legal counsel for Sputnik private equity funds, AT&T & McKenna & Co. He resides in Moscow and is fluent in Russian and English. Vladimir Pakhomov is a Managing Partner of Olympia Capital, an asset management and merchant banking firm specializing in investment opportunities primarily in Russia and CIS (2011 - present). He was the Investment Director with Onexim Group (2007 - 2010). He graduated Moscow Institute of International Relations and is CFA Charterholder. Mr. Pakhomov resides in Moscow and is fluent in Russian and English. The Sergeevskoe Project is owned by Sibzoloto, a Cyprus registered company, which in turn is the sole owner of both LLC GK Alexandrovskoe, holder of the Sergeevskoe license, and LLC Invest Realty, the owner of a work camp and infrastructure to support the nearby Sergeevskoe Project. As announced on March 23, 2017, the initial payment of US$180,000 at closing will be deferred and will bear interest at the rate of 8% per annum until paid with payment due the earlier of Orsu being funded by equity or the sale of the Karchiga Project in Kazakhstan. Orsu has agreed to fund a US$1,500,000 (US$460,000 already funded) exploration program on the Sergeevskoe Project before the first anniversary of closing. If the sale of Karchiga completes prior to September 30, 2017, then within 10 days, the Sellers will sell and Orsu will purchase the remaining 700 (70%) of the shares of Sibzoloto for consideration of €700 and US$420,000 cash. In the event the sale of Karchiga does not close before September 30, 2017, Orsu and the Sellers will own a 30% and 70% participating interest in Sibzoloto respectively. Orsu and the Sellers will negotiate the terms of a shareholder's agreement at that time to govern the operations of Sibzoloto and to provide for an option for Orsu to acquire or earn, and the Sellers to sell or transfer, the remaining 70% of the shares of Sibzoloto. The prior approval of the Exchange will be obtained in the event the parties determine that the consideration for the second sale shares will be paid and settled in shares of the Issuer. Orsu announced on March 15, 2017 the filing of the report titled "NI 43-101 Technical Report for the Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation" dated March 10, 2017 with an effective date of November 18, 2016, on the Company's profile on www.sedar.com. Orsu has been conducting, and funding, an exploration program on the Sergeevskoe Project since receiving the necessary government approvals in mid-November 2016. The program was funded by Orsu. The Phase 1 program will include an environmental baseline study, a ground magnetic survey, a 1314 m trenching programme and an initial 800 m confirmation drilling program in 3 holes. The environmental base line report was completed in mid-February 2017 by the Laboratory of Environmental Problems ("LEP"). LEP concluded that the surface waters chemical and physical properties are similar to natural concentrations with some soil and stream bed samples containing elevated concentrations of copper, zinc, arsenic and sulphur due to an influence of the historical mining works. In November-December 2016, Geoekspert completed a ground magnetic survey. The entire license area was covered by north-south traverses spacing 50 m. Orsu then contracted Reid Geophysics, a UK based geophysical company, to undertake all necessary processing, which required significant levelling of the sampling noise possibly accumulated due to data collection at cold temperatures. A set of acceptable magnetic maps was then generated. These maps (Figure 1) will be used during the ongoing exploration works. To view the graphic, please click here Orsu completed all trenching works, which comprised 1,314 m in 9 trenches. This consisted of four long trenches across Zone 23, two long trenches across Kozie, one short trench at Kozie and two short trenches (K-1042 and K-1025) near the eastern boundary of the Sergeevskoe license. This completes our winter trenching programme. To view the graphic, please click here The assays for the trenching are undergoing QAQC before any results can be relied upon and announced. Orsu is working through the QAQC protocols with the SGS assay laboratory in Chita, Russia. This release and the technical data reported has been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101. 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. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "suggest," "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the timing of, the sale of Karchiga. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. For further information, please contact:


WHITE ROCK, BC / ACCESSWIRE / May 18, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") is pleased to announce that it has closed the purchase of the initial 30% interest in Sibzoloto Investments Limited ("Sibzoloto"), the indirect holder of the Sergeevskoe gold project in Russia on the terms as amended and announced on March 23, 2017. On May 18, 2017, the Company issued a total of 165,591,520 common shares to the four arm's length selling shareholders (the "Sellers") of Sibzoloto in exchange for 30% of the shares of Sibzoloto. Concurrent with closing, Sergei Stefanovich was appointed a director and to the newly created office of Managing Director and Vladimir Pakhomov was appointed as a non-executive director of the Company. Dr Sergey V. Kurzin continues in his role as a director and Executive Chairman and Mark Corra and David Rhodes as non-executive directors. Alexander Yakubchuk stepped down as a Board Member and was appointed Director of Exploration. Sergei Stefanovich is a lawyer by initial training and received an MBA from IMD (Institute for Management Development), Lausanne, Switzerland. He has over 16 years of corporate finance, strategy & business development experience principally focused on Russia and larger FSU area. He has managed a public equity mining fund that invested into junior mining companies and was Director (Strategy and M&A) for Norilsk Nickel and a past Board member of Gold Fields Limited. He served as a legal counsel for Sputnik private equity funds, AT&T & McKenna & Co. He resides in Moscow and is fluent in Russian and English. Vladimir Pakhomov is a Managing Partner of Olympia Capital, an asset management and merchant banking firm specializing in investment opportunities primarily in Russia and CIS (2011 - present). He was the Investment Director with Onexim Group (2007 - 2010). He graduated Moscow Institute of International Relations and is CFA Charterholder. Mr. Pakhomov resides in Moscow and is fluent in Russian and English. The Sergeevskoe Project is owned by Sibzoloto, a Cyprus registered company, which in turn is the sole owner of both LLC GK Alexandrovskoe, holder of the Sergeevskoe license, and LLC Invest Realty, the owner of a work camp and infrastructure to support the nearby Sergeevskoe Project. As announced on March 23, 2017, the initial payment of US$180,000 at closing will be deferred and will bear interest at the rate of 8% per annum until paid with payment due the earlier of Orsu being funded by equity or the sale of the Karchiga Project in Kazakhstan. Orsu has agreed to fund a US$1,500,000 (US$460,000 already funded) exploration program on the Sergeevskoe Project before the first anniversary of closing. If the sale of Karchiga completes prior to September 30, 2017, then within 10 days, the Sellers will sell and Orsu will purchase the remaining 700 (70%) of the shares of Sibzoloto for consideration of €700 and US$420,000 cash. In the event the sale of Karchiga does not close before September 30, 2017, Orsu and the Sellers will own a 30% and 70% participating interest in Sibzoloto respectively. Orsu and the Sellers will negotiate the terms of a shareholder's agreement at that time to govern the operations of Sibzoloto and to provide for an option for Orsu to acquire or earn, and the Sellers to sell or transfer, the remaining 70% of the shares of Sibzoloto. The prior approval of the Exchange will be obtained in the event the parties determine that the consideration for the second sale shares will be paid and settled in shares of the Issuer. Orsu announced on March 15, 2017 the filing of the report titled "NI 43-101 Technical Report for the Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation" dated March 10, 2017 with an effective date of November 18, 2016, on the Company's profile on www.sedar.com. Orsu has been conducting, and funding, an exploration program on the Sergeevskoe Project since receiving the necessary government approvals in mid-November 2016. The program was funded by Orsu. The Phase 1 program will include an environmental baseline study, a ground magnetic survey, a 1314 m trenching programme and an initial 800 m confirmation drilling program in 3 holes. To view the graphic, please click here To view the graphic, please click here The assays for the trenching are undergoing QAQC before any results can be relied upon and announced. Orsu is working through the QAQC protocols with the SGS assay laboratory in Chita, Russia. This release and the technical data reported has been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101. 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. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "suggest," "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the timing of, the sale of Karchiga. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. For further information, please contact:


WHITE ROCK, BC / ACCESSWIRE / June 5, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") is pleased to announce encouraging results from Phase 1 exploration program at its 30% owned Sergeevskoe Gold Project in Russia. Dr. Sergey V. Kurzin, the Executive Chairman of Orsu, commented, "We are very excited by these first results from a very limited amount of work performed so far. Although the widely-spaced nature of initial trenching at the Sergeevskoe Gold Project does not allow yet to definitely correlate the mineralized intercepts between the trenches, our new results validated both the historical results and, most importantly, provide modern insights. Our new intercepts in trenches indicate presence of well-mineralized high-grade gold pods. We intend to accelerate further exploration work at Sergeevskoe with additional trenching that would allow us to test our concepts, to understand the deposit structurally and to expand the mineralized foot-print. During the summer season we are planning to commence an initial drilling program of 1500 m to test the depth extension of the best targets identified to date." Orsu has been conducting exploration at the Sergeevskoe Gold Project since November 2016. In addition to an environmental baseline study and a ground magnetic survey, the Phase 1 works included a 1314 m trenching program in 9 trenches (Figure 1). The program consisted of two short trenches (17-1042 and 17-1025) at Klyuchi West near the eastern boundary of the Sergeevskoe license, two long trenches and one short trench across Kozie (17-752, 17-679, 17-576), and four long trenches across Zone 23 (17-684, 17-941, 17-679 and 17-996). These three targets were selected for initial trench testing on the basis of historical results. Figure 1. Historical map and position of completed trenches at the Sergeevskoe Gold Project. Yellow colour in the middle of the map depicts a porphyrytic to brecciated granodiorite intrusion emplaced into pre-existing granite shown in white. Pale-red colours correspond to quartz-tourmaline stockwork according to historical data. To view Figure 1, please click here: http://www.accesswire.com/uploads/16953_orsufigure1.png The mineralization consists of quartz-tourmaline-sulfide veinlets, forming stockwork zones emplaced into porphyrytic to brecciated granodiorite intrusion at Kozie, along the contact between the granodiorite porphyry stock and pre-existing host granite at Klyuchi West, and mainly into the hosting granite at Zone 23 (Figure 1). The stockwork zones are variable in strike, with trenches intercepting it in perpendicular to oblique directions. The style of mineralization can be best classified as intrusion-related gold. Kozie, Klyuchi West and Zone 23 are multiple gold-mineralized centres within the Sergeevskoe license area, with adjacent Klyuchevskoe (Klyuchi) gold deposit representing the currently largest +6 Moz gold resource in the area (see Orsu press-release dated September 21, 2016). At Klyuchi West, two almost perpendicular trenches have been driven near the contact between granite and porphyritic granodiorite intrusion, some 70 m from the eastern boundary of the Sergeevskoe license area. They intercepted exceptionally high-grade gold mineralization (Figure 2). Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. Figure 2. Results of Phase 1 trenching from the Sergeevskoe Gold Project. To view Figure 2, please click here: https://www.accesswire.com/uploads/Orsu_image2_6.2.2017.png Trench 17-1042 was driven from the southwest to the north-northeast over 9.7 m. At its eastern end, this trench joined trench 17-1025. It aimed to test the historical intercept of 14 g/t Au over 10 m, including 97.4 g/t Au over 1 m. It intercepted a linear oxidized stockwork in almost perpendicular direction to the stockwork. The newly intercepted mineralized interval returned 48.56 g/t Au over 8 m (above the 0.5 g/t Au cut-off grade, uncapped). It includes 94.55 g/t Au over 4 m (above 5 g/t Au) and also 335 g/t Au over 1 m (uncapped). Trench 17-1025 was driven from the south to the north over 27.5 m. It obliquely intercepted one interval in the same stockwork, which was intercepted in Trench 17-1042. Historical results showed 3 g/t Au over 13 m. The new results from trench 17-1025 revealed a mineralized interval of 4.01 g/t Au over 13.5 m (above the 0.5 g/t Au cut-off grade), including two subintervals of 9.93 g/t Au over 2.3 m and 5.94 g/t Au over 3.8 m. The mineralization remains open in eastern and southwestern direction. It is controlled by the contact between the two granitoid intrusions. The extent of mineralization along the contact zone requires further investigation. At Kozie, three trenches have been driven across the poorly-oxidized quartz-tourmaline-sulfide stockwork, occurring in the hydrothermally brecciated granodiorite porphyry intrusion. Trench 17-752 was driven from the south to the north (Figure 2) for a total length of 182.3 m, starting from interval 17.7 m of historical trench. It intercepted a linear stockwork, chiefly trending 290 WNW. Several mineralized intervals, with best intercept of 2.3 g/t Au over 16.8 m, were revealed starting from the beginning of the trench (Table 1). The mineralization remains open to the south, west and east. Trench 17-756 was driven from the southwest to the northeast over 21.5 m, some 130 m east from trench 17-752. It intercepted one interval with 3.9 g/t Au over a length of 1.7 m in perpendicular direction to the linear stockwork, indicating its strike to west-northwest. Trench 17-679 at Kozie was driven from the south to the north over 214 m, starting from interval 630 m of historical trench, some 190 m east from trench 17-752 (Figure 2). It intercepted several short stockwork intervals trending in the 290WNW direction. Orientation of the stockwork and recognized mineralized zones suggests their extension from trench 17-752 to the southeast rather than straight to the west towards short mineralized intervals in trench 17-679 (Figure 2). This area in the southeast, occurring half distance between Kozie and Zone 23, was not historically trenched or drilled and therefore requires immediate attention during the summer season. Table 1 summarizes all intercepts in the three trenches at Kozie. Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. No minimum thicknesses considered, but maximum 2 m intervals grading <0.5 g/t Au were included into some of the mineralized intervals shown in Table 1. At Zone 23, four long trenches have been driven in north-south direction aiming to re-excavate historical trenches in the hydrothermally altered granite intrusion, hosting several medium to well-oxidized quartz-tourmaline stockwork zones. Trench 17-684 was driven from the south to the north for a total length of 179.5 m, exceeding the historical trench by 10 m. It intercepted a linear stockwork, of variable orientation, ranging in strike from 20NNE to 290NNW (Figure 2). Several mineralized intervals were intercepted from the beginning of the trench, with best intercepts of 5.77 g/t Au over 8.5 m, 1.30 g/t Au over 14.1 m, 1.05 g/t Au over 6.0 m, 1.05 g/t Au over 5.8 m and 2.16 g/t Au over 19.3 m among others (Table 2). The mineralization remains open to the north, west and east. Trench 17-941 was driven from the south to the north over a length of 86.5 m, starting from interval 30 m of historical trench. This trench was designed to test the northern continuation of mineralized zones, intercepted in trench 17-684. It crosscut several mineralized intervals with linear stockwork, changing in strike from 20NNE to 290NNW. Overall results were poorer than in trench 17-684 (Table 2). However, at its southern end, the trench remained in mineralization with 2.15 g/t Au over 4 m and requires further testing in the future. Trench 17-679 at Zone 23 forms the southern continuation of the same trench that was driven at Kozie. It was excavated from the south to the north over a length of 367.8 m, starting from interval 81.5 m of historical trench, some 200 m west from trenches 17-941 and 17-684. It intercepted several mineralized intervals (Table 2) in oblique direction to the variably oxidized linear stockwork, trending 290WNW and 20-30 NNE. Trench 17-996 was excavated from the south to the north over a length of 192 m, starting from interval 241 m of historical trench, some 300 m west from trench 17-679. It intercepted several relatively short mineralized intervals in oblique direction to the 290WNW strike direction of the stockwork (Table 2). Table 2 summarizes all intercepts in the four trenches at Zone 23. Orsu confirmed the extent of mineralization at Zone 23 for at least 500 m from the west to the east. The northern part of Zone 23 is trans-sected by the west-east trending fault, extending here from the Klyuchi pit, where it truncates the gold mineralization. The fault is interpreted to display a dextral strike-slip kinematics, suggesting that Zone 23 could be offset from the Klyuchi orebodies for approximately 1.3 km. The mineralization remains open to the west and east, with best intercepts in the east of this zone. The carefully documented change in strike direction of the documented stockwork indicates a possibility of Z-shaped (Figure 2), rather than linear, mineralized zones at Zone 23, with general north-northwest strike of individual stockwork zones. There is a strong possibility that areas between the newly excavated trenches will be also mineralized. This concept will be tested during the summer program. Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all trenches. Duplicate samples were inserted after every 20 samples. All standard samples were inserted once per 20 samples. Blanks were also inserted once per 20 samples and consisted of the previously assayed barren granitoid rocks. Channel samples were submitted directly to the SGS Vostok Limited laboratories in Chita, Russia, which are independent from Orsu, for sample preparation and analysis. Analysis for Au is performed using fire assay method with atomic absorption (AA) finish and with a gravimetric finish for samples exceeding 10 g/t Au. Results published are from the gravimetric finish if above 10 g/t Au and from the AA finish if lower than 10 g/t Au. This release and the technical data reported has been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101. 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. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "suggest," "indicate," and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. For further information, please contact:


WHITE ROCK, BC / ACCESSWIRE / June 5, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") is pleased to announce encouraging results from Phase 1 exploration program at its 30% owned Sergeevskoe Gold Project in Russia. Three prospects - Klyuchi West, Kozie and Zone 23 - were trenched at the Sergeevskoe Gold Project with a total of 1314 metres in 9 widely-spaced trenches completed to test historical results. At Klyuchi West, trench results include (at 0.5 g/t ("Au") gold cut-off grade): 48.56 g/t Au over 8.0 metres ("m") (uncapped), including 335 g/t Au over 1 m in trench 17-1042 4.01 g/t Au over 13.50 m in trench 17-1025 At Kozie, results from trench 17-752 include: 0.86 g/t Au over 7.3 m; 1.88 g/t Au over 8.0 m; 2.3 g/t Au over 16.80 m; 0.75 g/t Au over 10.8 m; and 1.25 g/t Au over 2.2 m. At Zone 23, results from trench 17-684 include: 5.77 g/t Au over 8.5 m; 0.56 g/t Au over 4.9 m; 1.31 g/t Au over 1.0 m; 1.30 g/t Au over 14.1 m; 1.05 g/t Au over 6.0 m; 1.05 g/t Au over 5.8 m; and 2.16 g/t Au over 19.3 m. Dr. Sergey V. Kurzin, the Executive Chairman of Orsu, commented, "We are very excited by these first results from a very limited amount of work performed so far. Although the widely-spaced nature of initial trenching at the Sergeevskoe Gold Project does not allow yet to definitely correlate the mineralized intercepts between the trenches, our new results validated both the historical results and, most importantly, provide modern insights. Our new intercepts in trenches indicate presence of well-mineralized high-grade gold pods. We intend to accelerate further exploration work at Sergeevskoe with additional trenching that would allow us to test our concepts, to understand the deposit structurally and to expand the mineralized foot-print. During the summer season we are planning to commence an initial drilling program of 1500 m to test the depth extension of the best targets identified to date." Orsu has been conducting exploration at the Sergeevskoe Gold Project since November 2016. In addition to an environmental baseline study and a ground magnetic survey, the Phase 1 works included a 1314 m trenching program in 9 trenches (Figure 1). The program consisted of two short trenches (17-1042 and 17-1025) at Klyuchi West near the eastern boundary of the Sergeevskoe license, two long trenches and one short trench across Kozie (17-752, 17-679, 17-576), and four long trenches across Zone 23 (17-684, 17-941, 17-679 and 17-996). These three targets were selected for initial trench testing on the basis of historical results. Figure 1. Historical map and position of completed trenches at the Sergeevskoe Gold Project. Yellow colour in the middle of the map depicts a porphyrytic to brecciated granodiorite intrusion emplaced into pre-existing granite shown in white. Pale-red colours correspond to quartz-tourmaline stockwork according to historical data. To view Figure 1, please click here: http://www.accesswire.com/uploads/16953_orsufigure1.png The mineralization consists of quartz-tourmaline-sulfide veinlets, forming stockwork zones emplaced into porphyrytic to brecciated granodiorite intrusion at Kozie, along the contact between the granodiorite porphyry stock and pre-existing host granite at Klyuchi West, and mainly into the hosting granite at Zone 23 (Figure 1). The stockwork zones are variable in strike, with trenches intercepting it in perpendicular to oblique directions. The style of mineralization can be best classified as intrusion-related gold. Kozie, Klyuchi West and Zone 23 are multiple gold-mineralized centres within the Sergeevskoe license area, with adjacent Klyuchevskoe (Klyuchi) gold deposit representing the currently largest +6 Moz gold resource in the area (see Orsu press-release dated September 21, 2016). At Klyuchi West, two almost perpendicular trenches have been driven near the contact between granite and porphyritic granodiorite intrusion, some 70 m from the eastern boundary of the Sergeevskoe license area. They intercepted exceptionally high-grade gold mineralization (Figure 2). Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. Figure 2. Results of Phase 1 trenching from the Sergeevskoe Gold Project. To view Figure 2, please click here: https://www.accesswire.com/uploads/Orsu_image2_6.2.2017.png Trench 17-1042 was driven from the southwest to the north-northeast over 9.7 m. At its eastern end, this trench joined trench 17-1025. It aimed to test the historical intercept of 14 g/t Au over 10 m, including 97.4 g/t Au over 1 m. It intercepted a linear oxidized stockwork in almost perpendicular direction to the stockwork. The newly intercepted mineralized interval returned 48.56 g/t Au over 8 m (above the 0.5 g/t Au cut-off grade, uncapped). It includes 94.55 g/t Au over 4 m (above 5 g/t Au) and also 335 g/t Au over 1 m (uncapped). Trench 17-1025 was driven from the south to the north over 27.5 m. It obliquely intercepted one interval in the same stockwork, which was intercepted in Trench 17-1042. Historical results showed 3 g/t Au over 13 m. The new results from trench 17-1025 revealed a mineralized interval of 4.01 g/t Au over 13.5 m (above the 0.5 g/t Au cut-off grade), including two subintervals of 9.93 g/t Au over 2.3 m and 5.94 g/t Au over 3.8 m. The mineralization remains open in eastern and southwestern direction. It is controlled by the contact between the two granitoid intrusions. The extent of mineralization along the contact zone requires further investigation. At Kozie, three trenches have been driven across the poorly-oxidized quartz-tourmaline-sulfide stockwork, occurring in the hydrothermally brecciated granodiorite porphyry intrusion. Trench 17-752 was driven from the south to the north (Figure 2) for a total length of 182.3 m, starting from interval 17.7 m of historical trench. It intercepted a linear stockwork, chiefly trending 290 WNW. Several mineralized intervals, with best intercept of 2.3 g/t Au over 16.8 m, were revealed starting from the beginning of the trench (Table 1). The mineralization remains open to the south, west and east. Trench 17-756 was driven from the southwest to the northeast over 21.5 m, some 130 m east from trench 17-752. It intercepted one interval with 3.9 g/t Au over a length of 1.7 m in perpendicular direction to the linear stockwork, indicating its strike to west-northwest. Trench 17-679 at Kozie was driven from the south to the north over 214 m, starting from interval 630 m of historical trench, some 190 m east from trench 17-752 (Figure 2). It intercepted several short stockwork intervals trending in the 290WNW direction. Orientation of the stockwork and recognized mineralized zones suggests their extension from trench 17-752 to the southeast rather than straight to the west towards short mineralized intervals in trench 17-679 (Figure 2). This area in the southeast, occurring half distance between Kozie and Zone 23, was not historically trenched or drilled and therefore requires immediate attention during the summer season. Table 1 summarizes all intercepts in the three trenches at Kozie. Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. No minimum thicknesses considered, but maximum 2 m intervals grading <0.5 g/t Au were included into some of the mineralized intervals shown in Table 1. At Zone 23, four long trenches have been driven in north-south direction aiming to re-excavate historical trenches in the hydrothermally altered granite intrusion, hosting several medium to well-oxidized quartz-tourmaline stockwork zones. Trench 17-684 was driven from the south to the north for a total length of 179.5 m, exceeding the historical trench by 10 m. It intercepted a linear stockwork, of variable orientation, ranging in strike from 20NNE to 290NNW (Figure 2). Several mineralized intervals were intercepted from the beginning of the trench, with best intercepts of 5.77 g/t Au over 8.5 m, 1.30 g/t Au over 14.1 m, 1.05 g/t Au over 6.0 m, 1.05 g/t Au over 5.8 m and 2.16 g/t Au over 19.3 m among others (Table 2). The mineralization remains open to the north, west and east. Trench 17-941 was driven from the south to the north over a length of 86.5 m, starting from interval 30 m of historical trench. This trench was designed to test the northern continuation of mineralized zones, intercepted in trench 17-684. It crosscut several mineralized intervals with linear stockwork, changing in strike from 20NNE to 290NNW. Overall results were poorer than in trench 17-684 (Table 2). However, at its southern end, the trench remained in mineralization with 2.15 g/t Au over 4 m and requires further testing in the future. Trench 17-679 at Zone 23 forms the southern continuation of the same trench that was driven at Kozie. It was excavated from the south to the north over a length of 367.8 m, starting from interval 81.5 m of historical trench, some 200 m west from trenches 17-941 and 17-684. It intercepted several mineralized intervals (Table 2) in oblique direction to the variably oxidized linear stockwork, trending 290WNW and 20-30 NNE. Trench 17-996 was excavated from the south to the north over a length of 192 m, starting from interval 241 m of historical trench, some 300 m west from trench 17-679. It intercepted several relatively short mineralized intervals in oblique direction to the 290WNW strike direction of the stockwork (Table 2). Table 2 summarizes all intercepts in the four trenches at Zone 23. Orsu confirmed the extent of mineralization at Zone 23 for at least 500 m from the west to the east. The northern part of Zone 23 is trans-sected by the west-east trending fault, extending here from the Klyuchi pit, where it truncates the gold mineralization. The fault is interpreted to display a dextral strike-slip kinematics, suggesting that Zone 23 could be offset from the Klyuchi orebodies for approximately 1.3 km. The mineralization remains open to the west and east, with best intercepts in the east of this zone. The carefully documented change in strike direction of the documented stockwork indicates a possibility of Z-shaped (Figure 2), rather than linear, mineralized zones at Zone 23, with general north-northwest strike of individual stockwork zones. There is a strong possibility that areas between the newly excavated trenches will be also mineralized. This concept will be tested during the summer program. Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all trenches. Duplicate samples were inserted after every 20 samples. All standard samples were inserted once per 20 samples. Blanks were also inserted once per 20 samples and consisted of the previously assayed barren granitoid rocks. Channel samples were submitted directly to the SGS Vostok Limited laboratories in Chita, Russia, which are independent from Orsu, for sample preparation and analysis. Analysis for Au is performed using fire assay method with atomic absorption (AA) finish and with a gravimetric finish for samples exceeding 10 g/t Au. Results published are from the gravimetric finish if above 10 g/t Au and from the AA finish if lower than 10 g/t Au. This release and the technical data reported has been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101. 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. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "suggest," "indicate," and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. For further information, please contact: WHITE ROCK, BC / ACCESSWIRE / June 5, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") is pleased to announce encouraging results from Phase 1 exploration program at its 30% owned Sergeevskoe Gold Project in Russia. Three prospects - Klyuchi West, Kozie and Zone 23 - were trenched at the Sergeevskoe Gold Project with a total of 1314 metres in 9 widely-spaced trenches completed to test historical results. At Klyuchi West, trench results include (at 0.5 g/t ("Au") gold cut-off grade): 48.56 g/t Au over 8.0 metres ("m") (uncapped), including 335 g/t Au over 1 m in trench 17-1042 4.01 g/t Au over 13.50 m in trench 17-1025 At Kozie, results from trench 17-752 include: 0.86 g/t Au over 7.3 m; 1.88 g/t Au over 8.0 m; 2.3 g/t Au over 16.80 m; 0.75 g/t Au over 10.8 m; and 1.25 g/t Au over 2.2 m. At Zone 23, results from trench 17-684 include: 5.77 g/t Au over 8.5 m; 0.56 g/t Au over 4.9 m; 1.31 g/t Au over 1.0 m; 1.30 g/t Au over 14.1 m; 1.05 g/t Au over 6.0 m; 1.05 g/t Au over 5.8 m; and 2.16 g/t Au over 19.3 m. Dr. Sergey V. Kurzin, the Executive Chairman of Orsu, commented, "We are very excited by these first results from a very limited amount of work performed so far. Although the widely-spaced nature of initial trenching at the Sergeevskoe Gold Project does not allow yet to definitely correlate the mineralized intercepts between the trenches, our new results validated both the historical results and, most importantly, provide modern insights. Our new intercepts in trenches indicate presence of well-mineralized high-grade gold pods. We intend to accelerate further exploration work at Sergeevskoe with additional trenching that would allow us to test our concepts, to understand the deposit structurally and to expand the mineralized foot-print. During the summer season we are planning to commence an initial drilling program of 1500 m to test the depth extension of the best targets identified to date." Orsu has been conducting exploration at the Sergeevskoe Gold Project since November 2016. In addition to an environmental baseline study and a ground magnetic survey, the Phase 1 works included a 1314 m trenching program in 9 trenches (Figure 1). The program consisted of two short trenches (17-1042 and 17-1025) at Klyuchi West near the eastern boundary of the Sergeevskoe license, two long trenches and one short trench across Kozie (17-752, 17-679, 17-576), and four long trenches across Zone 23 (17-684, 17-941, 17-679 and 17-996). These three targets were selected for initial trench testing on the basis of historical results. Figure 1. Historical map and position of completed trenches at the Sergeevskoe Gold Project. Yellow colour in the middle of the map depicts a porphyrytic to brecciated granodiorite intrusion emplaced into pre-existing granite shown in white. Pale-red colours correspond to quartz-tourmaline stockwork according to historical data. To view Figure 1, please click here: http://www.accesswire.com/uploads/16953_orsufigure1.png The mineralization consists of quartz-tourmaline-sulfide veinlets, forming stockwork zones emplaced into porphyrytic to brecciated granodiorite intrusion at Kozie, along the contact between the granodiorite porphyry stock and pre-existing host granite at Klyuchi West, and mainly into the hosting granite at Zone 23 (Figure 1). The stockwork zones are variable in strike, with trenches intercepting it in perpendicular to oblique directions. The style of mineralization can be best classified as intrusion-related gold. Kozie, Klyuchi West and Zone 23 are multiple gold-mineralized centres within the Sergeevskoe license area, with adjacent Klyuchevskoe (Klyuchi) gold deposit representing the currently largest +6 Moz gold resource in the area (see Orsu press-release dated September 21, 2016). At Klyuchi West, two almost perpendicular trenches have been driven near the contact between granite and porphyritic granodiorite intrusion, some 70 m from the eastern boundary of the Sergeevskoe license area. They intercepted exceptionally high-grade gold mineralization (Figure 2). Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. Figure 2. Results of Phase 1 trenching from the Sergeevskoe Gold Project. To view Figure 2, please click here: https://www.accesswire.com/uploads/Orsu_image2_6.2.2017.png Trench 17-1042 was driven from the southwest to the north-northeast over 9.7 m. At its eastern end, this trench joined trench 17-1025. It aimed to test the historical intercept of 14 g/t Au over 10 m, including 97.4 g/t Au over 1 m. It intercepted a linear oxidized stockwork in almost perpendicular direction to the stockwork. The newly intercepted mineralized interval returned 48.56 g/t Au over 8 m (above the 0.5 g/t Au cut-off grade, uncapped). It includes 94.55 g/t Au over 4 m (above 5 g/t Au) and also 335 g/t Au over 1 m (uncapped). Trench 17-1025 was driven from the south to the north over 27.5 m. It obliquely intercepted one interval in the same stockwork, which was intercepted in Trench 17-1042. Historical results showed 3 g/t Au over 13 m. The new results from trench 17-1025 revealed a mineralized interval of 4.01 g/t Au over 13.5 m (above the 0.5 g/t Au cut-off grade), including two subintervals of 9.93 g/t Au over 2.3 m and 5.94 g/t Au over 3.8 m. The mineralization remains open in eastern and southwestern direction. It is controlled by the contact between the two granitoid intrusions. The extent of mineralization along the contact zone requires further investigation. At Kozie, three trenches have been driven across the poorly-oxidized quartz-tourmaline-sulfide stockwork, occurring in the hydrothermally brecciated granodiorite porphyry intrusion. Trench 17-752 was driven from the south to the north (Figure 2) for a total length of 182.3 m, starting from interval 17.7 m of historical trench. It intercepted a linear stockwork, chiefly trending 290 WNW. Several mineralized intervals, with best intercept of 2.3 g/t Au over 16.8 m, were revealed starting from the beginning of the trench (Table 1). The mineralization remains open to the south, west and east. Trench 17-756 was driven from the southwest to the northeast over 21.5 m, some 130 m east from trench 17-752. It intercepted one interval with 3.9 g/t Au over a length of 1.7 m in perpendicular direction to the linear stockwork, indicating its strike to west-northwest. Trench 17-679 at Kozie was driven from the south to the north over 214 m, starting from interval 630 m of historical trench, some 190 m east from trench 17-752 (Figure 2). It intercepted several short stockwork intervals trending in the 290WNW direction. Orientation of the stockwork and recognized mineralized zones suggests their extension from trench 17-752 to the southeast rather than straight to the west towards short mineralized intervals in trench 17-679 (Figure 2). This area in the southeast, occurring half distance between Kozie and Zone 23, was not historically trenched or drilled and therefore requires immediate attention during the summer season. Table 1 summarizes all intercepts in the three trenches at Kozie. Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. No minimum thicknesses considered, but maximum 2 m intervals grading <0.5 g/t Au were included into some of the mineralized intervals shown in Table 1. At Zone 23, four long trenches have been driven in north-south direction aiming to re-excavate historical trenches in the hydrothermally altered granite intrusion, hosting several medium to well-oxidized quartz-tourmaline stockwork zones. Trench 17-684 was driven from the south to the north for a total length of 179.5 m, exceeding the historical trench by 10 m. It intercepted a linear stockwork, of variable orientation, ranging in strike from 20NNE to 290NNW (Figure 2). Several mineralized intervals were intercepted from the beginning of the trench, with best intercepts of 5.77 g/t Au over 8.5 m, 1.30 g/t Au over 14.1 m, 1.05 g/t Au over 6.0 m, 1.05 g/t Au over 5.8 m and 2.16 g/t Au over 19.3 m among others (Table 2). The mineralization remains open to the north, west and east. Trench 17-941 was driven from the south to the north over a length of 86.5 m, starting from interval 30 m of historical trench. This trench was designed to test the northern continuation of mineralized zones, intercepted in trench 17-684. It crosscut several mineralized intervals with linear stockwork, changing in strike from 20NNE to 290NNW. Overall results were poorer than in trench 17-684 (Table 2). However, at its southern end, the trench remained in mineralization with 2.15 g/t Au over 4 m and requires further testing in the future. Trench 17-679 at Zone 23 forms the southern continuation of the same trench that was driven at Kozie. It was excavated from the south to the north over a length of 367.8 m, starting from interval 81.5 m of historical trench, some 200 m west from trenches 17-941 and 17-684. It intercepted several mineralized intervals (Table 2) in oblique direction to the variably oxidized linear stockwork, trending 290WNW and 20-30 NNE. Trench 17-996 was excavated from the south to the north over a length of 192 m, starting from interval 241 m of historical trench, some 300 m west from trench 17-679. It intercepted several relatively short mineralized intervals in oblique direction to the 290WNW strike direction of the stockwork (Table 2). Table 2 summarizes all intercepts in the four trenches at Zone 23. Orsu confirmed the extent of mineralization at Zone 23 for at least 500 m from the west to the east. The northern part of Zone 23 is trans-sected by the west-east trending fault, extending here from the Klyuchi pit, where it truncates the gold mineralization. The fault is interpreted to display a dextral strike-slip kinematics, suggesting that Zone 23 could be offset from the Klyuchi orebodies for approximately 1.3 km. The mineralization remains open to the west and east, with best intercepts in the east of this zone. The carefully documented change in strike direction of the documented stockwork indicates a possibility of Z-shaped (Figure 2), rather than linear, mineralized zones at Zone 23, with general north-northwest strike of individual stockwork zones. There is a strong possibility that areas between the newly excavated trenches will be also mineralized. This concept will be tested during the summer program. Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all trenches. Duplicate samples were inserted after every 20 samples. All standard samples were inserted once per 20 samples. Blanks were also inserted once per 20 samples and consisted of the previously assayed barren granitoid rocks. Channel samples were submitted directly to the SGS Vostok Limited laboratories in Chita, Russia, which are independent from Orsu, for sample preparation and analysis. Analysis for Au is performed using fire assay method with atomic absorption (AA) finish and with a gravimetric finish for samples exceeding 10 g/t Au. Results published are from the gravimetric finish if above 10 g/t Au and from the AA finish if lower than 10 g/t Au. This release and the technical data reported has been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101. 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. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "suggest," "indicate," and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. For further information, please contact:


WHITE ROCK, BC / ACCESSWIRE / June 5, 2017 / Orsu Metals Corporation (OSU.TO) ("Orsu" or the "Company") is pleased to announce encouraging results from Phase 1 exploration program at its 30% owned Sergeevskoe Gold Project in Russia. Dr. Sergey V. Kurzin, the Executive Chairman of Orsu, commented, "We are very excited by these first results from a very limited amount of work performed so far. Although the widely-spaced nature of initial trenching at the Sergeevskoe Gold Project does not allow yet to definitely correlate the mineralized intercepts between the trenches, our new results validated both the historical results and, most importantly, provide modern insights. Our new intercepts in trenches indicate presence of well-mineralized high-grade gold pods. We intend to accelerate further exploration work at Sergeevskoe with additional trenching that would allow us to test our concepts, to understand the deposit structurally and to expand the mineralized foot-print. During the summer season we are planning to commence an initial drilling program of 1500 m to test the depth extension of the best targets identified to date." Orsu has been conducting exploration at the Sergeevskoe Gold Project since November 2016. In addition to an environmental baseline study and a ground magnetic survey, the Phase 1 works included a 1314 m trenching program in 9 trenches (Figure 1). The program consisted of two short trenches (17-1042 and 17-1025) at Klyuchi West near the eastern boundary of the Sergeevskoe license, two long trenches and one short trench across Kozie (17-752, 17-679, 17-576), and four long trenches across Zone 23 (17-684, 17-941, 17-679 and 17-996). These three targets were selected for initial trench testing on the basis of historical results. Figure 1. Historical map and position of completed trenches at the Sergeevskoe Gold Project. Yellow colour in the middle of the map depicts a porphyrytic to brecciated granodiorite intrusion emplaced into pre-existing granite shown in white. Pale-red colours correspond to quartz-tourmaline stockwork according to historical data. To view Figure 1, please click here: http://www.accesswire.com/uploads/16953_orsufigure1.png The mineralization consists of quartz-tourmaline-sulfide veinlets, forming stockwork zones emplaced into porphyrytic to brecciated granodiorite intrusion at Kozie, along the contact between the granodiorite porphyry stock and pre-existing host granite at Klyuchi West, and mainly into the hosting granite at Zone 23 (Figure 1). The stockwork zones are variable in strike, with trenches intercepting it in perpendicular to oblique directions. The style of mineralization can be best classified as intrusion-related gold. Kozie, Klyuchi West and Zone 23 are multiple gold-mineralized centres within the Sergeevskoe license area, with adjacent Klyuchevskoe (Klyuchi) gold deposit representing the currently largest +6 Moz gold resource in the area (see Orsu press-release dated September 21, 2016). At Klyuchi West, two almost perpendicular trenches have been driven near the contact between granite and porphyritic granodiorite intrusion, some 70 m from the eastern boundary of the Sergeevskoe license area. They intercepted exceptionally high-grade gold mineralization (Figure 2). Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. Figure 2. Results of Phase 1 trenching from the Sergeevskoe Gold Project. To view Figure 2, please click here: https://www.accesswire.com/uploads/Orsu_image2_6.2.2017.png Trench 17-1042 was driven from the southwest to the north-northeast over 9.7 m. At its eastern end, this trench joined trench 17-1025. It aimed to test the historical intercept of 14 g/t Au over 10 m, including 97.4 g/t Au over 1 m. It intercepted a linear oxidized stockwork in almost perpendicular direction to the stockwork. The newly intercepted mineralized interval returned 48.56 g/t Au over 8 m (above the 0.5 g/t Au cut-off grade, uncapped). It includes 94.55 g/t Au over 4 m (above 5 g/t Au) and also 335 g/t Au over 1 m (uncapped). Trench 17-1025 was driven from the south to the north over 27.5 m. It obliquely intercepted one interval in the same stockwork, which was intercepted in Trench 17-1042. Historical results showed 3 g/t Au over 13 m. The new results from trench 17-1025 revealed a mineralized interval of 4.01 g/t Au over 13.5 m (above the 0.5 g/t Au cut-off grade), including two subintervals of 9.93 g/t Au over 2.3 m and 5.94 g/t Au over 3.8 m. The mineralization remains open in eastern and southwestern direction. It is controlled by the contact between the two granitoid intrusions. The extent of mineralization along the contact zone requires further investigation. At Kozie, three trenches have been driven across the poorly-oxidized quartz-tourmaline-sulfide stockwork, occurring in the hydrothermally brecciated granodiorite porphyry intrusion. Trench 17-752 was driven from the south to the north (Figure 2) for a total length of 182.3 m, starting from interval 17.7 m of historical trench. It intercepted a linear stockwork, chiefly trending 290 WNW. Several mineralized intervals, with best intercept of 2.3 g/t Au over 16.8 m, were revealed starting from the beginning of the trench (Table 1). The mineralization remains open to the south, west and east. Trench 17-756 was driven from the southwest to the northeast over 21.5 m, some 130 m east from trench 17-752. It intercepted one interval with 3.9 g/t Au over a length of 1.7 m in perpendicular direction to the linear stockwork, indicating its strike to west-northwest. Trench 17-679 at Kozie was driven from the south to the north over 214 m, starting from interval 630 m of historical trench, some 190 m east from trench 17-752 (Figure 2). It intercepted several short stockwork intervals trending in the 290WNW direction. Orientation of the stockwork and recognized mineralized zones suggests their extension from trench 17-752 to the southeast rather than straight to the west towards short mineralized intervals in trench 17-679 (Figure 2). This area in the southeast, occurring half distance between Kozie and Zone 23, was not historically trenched or drilled and therefore requires immediate attention during the summer season. Table 1 summarizes all intercepts in the three trenches at Kozie. Selection of mineralized intervals is based on a 0.5 g/t Au cut-off for compositing. Composited intervals are presented uncapped. No minimum thicknesses considered, but maximum 2 m intervals grading <0.5 g/t Au were included into some of the mineralized intervals shown in Table 1. At Zone 23, four long trenches have been driven in north-south direction aiming to re-excavate historical trenches in the hydrothermally altered granite intrusion, hosting several medium to well-oxidized quartz-tourmaline stockwork zones. Trench 17-684 was driven from the south to the north for a total length of 179.5 m, exceeding the historical trench by 10 m. It intercepted a linear stockwork, of variable orientation, ranging in strike from 20NNE to 290NNW (Figure 2). Several mineralized intervals were intercepted from the beginning of the trench, with best intercepts of 5.77 g/t Au over 8.5 m, 1.30 g/t Au over 14.1 m, 1.05 g/t Au over 6.0 m, 1.05 g/t Au over 5.8 m and 2.16 g/t Au over 19.3 m among others (Table 2). The mineralization remains open to the north, west and east. Trench 17-941 was driven from the south to the north over a length of 86.5 m, starting from interval 30 m of historical trench. This trench was designed to test the northern continuation of mineralized zones, intercepted in trench 17-684. It crosscut several mineralized intervals with linear stockwork, changing in strike from 20NNE to 290NNW. Overall results were poorer than in trench 17-684 (Table 2). However, at its southern end, the trench remained in mineralization with 2.15 g/t Au over 4 m and requires further testing in the future. Trench 17-679 at Zone 23 forms the southern continuation of the same trench that was driven at Kozie. It was excavated from the south to the north over a length of 367.8 m, starting from interval 81.5 m of historical trench, some 200 m west from trenches 17-941 and 17-684. It intercepted several mineralized intervals (Table 2) in oblique direction to the variably oxidized linear stockwork, trending 290WNW and 20-30 NNE. Trench 17-996 was excavated from the south to the north over a length of 192 m, starting from interval 241 m of historical trench, some 300 m west from trench 17-679. It intercepted several relatively short mineralized intervals in oblique direction to the 290WNW strike direction of the stockwork (Table 2). Table 2 summarizes all intercepts in the four trenches at Zone 23. Orsu confirmed the extent of mineralization at Zone 23 for at least 500 m from the west to the east. The northern part of Zone 23 is trans-sected by the west-east trending fault, extending here from the Klyuchi pit, where it truncates the gold mineralization. The fault is interpreted to display a dextral strike-slip kinematics, suggesting that Zone 23 could be offset from the Klyuchi orebodies for approximately 1.3 km. The mineralization remains open to the west and east, with best intercepts in the east of this zone. The carefully documented change in strike direction of the documented stockwork indicates a possibility of Z-shaped (Figure 2), rather than linear, mineralized zones at Zone 23, with general north-northwest strike of individual stockwork zones. There is a strong possibility that areas between the newly excavated trenches will be also mineralized. This concept will be tested during the summer program. Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all trenches. Duplicate samples were inserted after every 20 samples. All standard samples were inserted once per 20 samples. Blanks were also inserted once per 20 samples and consisted of the previously assayed barren granitoid rocks. Channel samples were submitted directly to the SGS Vostok Limited laboratories in Chita, Russia, which are independent from Orsu, for sample preparation and analysis. Analysis for Au is performed using fire assay method with atomic absorption (AA) finish and with a gravimetric finish for samples exceeding 10 g/t Au. Results published are from the gravimetric finish if above 10 g/t Au and from the AA finish if lower than 10 g/t Au. This release and the technical data reported has been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101. 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. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "suggest," "indicate," and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. For further information, please contact:


News Article | December 21, 2016
Site: marketersmedia.com

WHITE ROCK, BC / ACCESSWIRE / December 21, 2016 / Orsu Metals Corporation ("Orsu") (TSX:OSU) announces that, in its continuing efforts to reduce its general and administrative overhead, it has moved the financial and corporate office from the UK to Canada given that it is no longer listed on the AIM marketplace in London and is only listed on the Toronto Stock Exchange in Canada. Orsu has engaged Golden Oak Corporate Services Ltd., a consulting company controlled by Doris Meyer, the recently appointed Corporate Secretary of the Company. Effective December 30, 2016, Golden Oak will now also provide the services of Dan O'Brien, appointed by Orsu to the role of Chief Financial Officer. Dan O'Brien is a member of the Chartered Professional Accountants of British Columbia. He is also Chief Financial Officer for a number of publicly listed exploration companies trading on the TSX and TSX Venture exchanges. Mr. O'Brien was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector. Orsu also announces the retirement of Massimo Carello as a director to take effect on December 30, 2016. Mr. Carello has been with Orsu since 2008 and the Board of Orsu takes this opportunity to thank him for his many years of service and guidance to Orsu during his time. Orsu also takes the opportunity to thank the two UK based employees, Kevin Denham, the former Chief Financial Officer, and Sailesh Mistry, the former Controller of Orsu, for their years of service and commitment to Orsu. For further information, please contact: WHITE ROCK, BC / ACCESSWIRE / December 21, 2016 / Orsu Metals Corporation ("Orsu") (TSX:OSU) announces that, in its continuing efforts to reduce its general and administrative overhead, it has moved the financial and corporate office from the UK to Canada given that it is no longer listed on the AIM marketplace in London and is only listed on the Toronto Stock Exchange in Canada. Orsu has engaged Golden Oak Corporate Services Ltd., a consulting company controlled by Doris Meyer, the recently appointed Corporate Secretary of the Company. Effective December 30, 2016, Golden Oak will now also provide the services of Dan O'Brien, appointed by Orsu to the role of Chief Financial Officer. Dan O'Brien is a member of the Chartered Professional Accountants of British Columbia. He is also Chief Financial Officer for a number of publicly listed exploration companies trading on the TSX and TSX Venture exchanges. Mr. O'Brien was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector. Orsu also announces the retirement of Massimo Carello as a director to take effect on December 30, 2016. Mr. Carello has been with Orsu since 2008 and the Board of Orsu takes this opportunity to thank him for his many years of service and guidance to Orsu during his time. Orsu also takes the opportunity to thank the two UK based employees, Kevin Denham, the former Chief Financial Officer, and Sailesh Mistry, the former Controller of Orsu, for their years of service and commitment to Orsu. For further information, please contact:


News Article | December 21, 2016
Site: www.accesswire.com

WHITE ROCK, BC / ACCESSWIRE / December 21, 2016 / Orsu Metals Corporation ("Orsu") (TSX:OSU) announces that, in its continuing efforts to reduce its general and administrative overhead, it has moved the financial and corporate office from the UK to Canada given that it is no longer listed on the AIM marketplace in London and is only listed on the Toronto Stock Exchange in Canada. Orsu has engaged Golden Oak Corporate Services Ltd., a consulting company controlled by Doris Meyer, the recently appointed Corporate Secretary of the Company. Effective December 30, 2016, Golden Oak will now also provide the services of Dan O'Brien, appointed by Orsu to the role of Chief Financial Officer. Dan O'Brien is a member of the Chartered Professional Accountants of British Columbia. He is also Chief Financial Officer for a number of publicly listed exploration companies trading on the TSX and TSX Venture exchanges. Mr. O'Brien was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector. Orsu also announces the retirement of Massimo Carello as a director to take effect on December 30, 2016. Mr. Carello has been with Orsu since 2008 and the Board of Orsu takes this opportunity to thank him for his many years of service and guidance to Orsu during his time. Orsu also takes the opportunity to thank the two UK based employees, Kevin Denham, the former Chief Financial Officer, and Sailesh Mistry, the former Controller of Orsu, for their years of service and commitment to Orsu. For further information, please contact:


News Article | February 21, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 21, 2017) - Orsu Metals Corporation (TSX VENTURE:OSU) ("Orsu" or the "Company") announced on January 26, 2017, the conditional transfer (the "Transfer") of its 94.75% participation interest ("the "Interest") in GRK MLD LLP ("MLD") to Karasat Trading FZE ("Karasat"). The Transfer took place in Almaty, Kazakhstan on January 25, 2017. Orsu transferred the Interest to Karasat and the Transfer was duly registered with the Kazakhstan authorities. The purchase price for the Interest was to be paid by Karasat after the registration of the Transfer with the Kazakhstan authorities and upon release of funds from Karasat's bank financier. The assignment deed evidencing the assignment of the USD 7,740,770 inter-company debt will only become effective upon Orsu's receipt of the USD 7,650,000 purchase price. Receipt was expected not later than February 15, 2017 and Karasat has now informed Orsu that it needs additional time. Orsu is in discussion with Karasat regarding the terms and consideration for any additional time Orsu may grant and Orsu will assess that proposal against its legal options of recourse available to it. 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. Cautionary Statement: This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the receipt of, and the timing of, the balance of the USD 7,650,000 proceeds from the sale of Karchiga. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.


LONDON, UNITED KINGDOM--(Marketwired - Nov. 11, 2016) - Orsu Metals Corporation ("Orsu" or the "Company") a London-based base and precious metals exploration and development company, listed on TSX (TSX:OSU), today reports its unaudited results for the nine months ended September 30, 2016 ("Q3 2016"). A full Management's Discussion and Analysis of the results ("MD&A") and Consolidated Financial Statements (Unaudited) for Q3 2016 (the "Financials") will soon be available on the Company's profile on SEDAR (www.sedar.com) or on the Company's website (www.orsumetals.com). Copies of the MD&A and Financials can also be obtained upon request from the Company Secretary. The Financials have been prepared in accordance with applicable International Financial Reporting Standards ("IFRS"). All amounts are reported in United States Dollars ($) unless otherwise indicated. Canadian Dollars are referred to herein as CAD$ and British Pounds Sterling are referred to as GBP£. The following information has been extracted from the MD&A and the Financials. Reference should be made to the complete text of the MD&A and the Financials. The Company is currently in the process of disposing its two most advanced projects in the Republic of Kazakhstan (or "Kazakhstan"), as described below. In addition, in September 2016, the Company completed the disposal of its Akdjol and Tokhtazan exploration licenses (the "Akdjol-Tokhtazan Project") within the Kyrgyz Republic (or "Kyrgyzstan"), as described below. The Company plans to utilise the sale proceeds from the successful disposal of its Kazakh projects for the potential acquisition of an exploration license situated in the Mogocha District of the Zabaikal'skiy region of the Russian Federation (the "Sergeevskoe Project"). In April 2016, the Company entered into two separate agreements with Karasat Trading FZE ("Karasat"), a company registered in the United Arab Emirates, for the sale of the Company's two projects in Kazakhstan consisting of the Karchiga Project and the Kogodai Project (both defined below). The Company's principal and most advanced project comprises a license area in eastern Kazakhstan containing the copper bearing Karchiga volcanogenic massive sulphide ("VMS") deposit which is part of the Rudny Altai polymetallic belt (the "Karchiga Project"). Since 2012, the Company has been seeking to secure the funding required for the construction of a mine and processing facilities at the project. However, due to the continuing adverse economic environment during this period the Company was unable to secure the necessary funding required. As a result, the Company considered alternative solutions which resulted in the Company entering an agreement to sell its 94.75% interest in GRK MLD ("MLD"), which owns the Karchiga Project, to Karasat for a consideration of $7.75 million (the "Karchiga Transaction") subject to various conditions (as set out in the MD&A). The Kogodai Project comprises the exploration project for a prospect 70 km north west of the Karchiga Project identified as a VMS copper mineralization within the Kurchum-Kalzhir metamorphic terrain, the same tectonic unit that hosts the Karchiga deposit (the "Kogodai Project"). The Company entered a separate agreement with Karasat to sell its effective 51% interest in the Kogodai Project for $10,000 (the "Kogodai Transaction") subject to certain conditions (as set out in the MD&A). For Q3 2016 the Company reported a net comprehensive loss of $1.3 million, compared to a net loss of $2.6 million for the nine months ended September 30, 2015. In April, the Company announced the sale of both the Karchiga Project and the Kogodai Project and thus the net assets and liabilities in relation to both projects as at September 30, 2016 have been classified as "Assets held for sale" and separately the combined net losses of the Karchiga Project and Kogodai Project disclosed as "Disposal group assets held for sale" for the nine months ended September 30, 2016 and 2015 (see below). In August, the Company completed the disposal of the Akdjol-Tokhtazan Project and recorded a net gain on disposal of $0.5 million for the nine months ended September 30, 2016. In September 2016, the Company entered the Sergeevskoe Agreement for the potential acquisition of the Sergeevskoe Project and incurred initial exploration expenditures of $26,000 for Q3 2016. As at September 30, 2016 the Company had net assets of $10.9 million ($12.2 million as at December 31, 2015) of which $3.1 million was held in cash and cash equivalents ($4.7 million as at December 31, 2015). As at September 30, 2016 the Company's main source of liquidity was unrestricted cash and cash equivalents of $3.1 million, compared with $4.7 million as at December 31, 2015. During the nine months ended September 30, 2016 the net cash used by the Company's operating expenditures was $1.5 million, compared to $2.1 million for the nine months ended September 30, 2015. The minimum working capital the Company estimates for 2016 is set out below: This press release and the Company's MD&A contains or refers to forward-looking information. All information, other than information regarding historical fact that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. Such forward-looking information includes, without limitation, statements relating to: the estimate, use and sufficiency of the Company's working capital and the Company's ability to fund its working capital requirements; the potential disposition of one or more of the Company's exploration interests or exploration projects as well as the seeking of business opportunities other than such exploration projects; the potential raising of additional funding through the Sale and Purchase Agreement for the disposition of the Karchiga Transaction and the Kogodai Transaction and the proposed uses and allocation thereof; the Company's determination that the Kogodai Project is in good standing and not at risk from default; the proposed terms and conditions of the Sergeevskoe Acquisition; the anticipated trend of decreasing administration expenditures; and the Company's future growth (including new opportunities and acquisitions) and its ability to raise or secure new funding. The forward-looking information in this press release and the Company's MD&A reflects the current expectations, assumptions or beliefs of the Company based on information currently available to the Company. With respect to forward-looking information contained in this MD&A, the Company has made assumptions regarding, among other things, the Company's ability to generate sufficient funds from debt sources and/or capital markets and the sale of properties to meet its future expected obligations and planned activities, the economy and the mineral exploration and extraction industry in general, available historical information will be useful to the Company's evaluation of the geological and metallurgical risks for the Sergeevskoe Project; the political environments and the regulatory frameworks in Kazakhstan and Kyrgyzstan with respect to, among other things, the mining industry generally, royalties, taxes, environmental matters and the Company's ability to obtain, maintain, renew and/or extend required permits, licenses, authorisations and/or approvals from the appropriate regulatory authorities, including the previous waiver granted by the relevant ministry in Kazakhstan, currently the Competent Authority, which covers any pre-emptive right that the Competent Authority or State has in respect of any past placements, future capital, operating and production costs and cash flow discounts, anticipated mining and processing rates, assumptions relating to the Company's critical accounting policies, and has also assumed that no unusual geological or technical problems occur, no material adverse change in the price of copper, gold or molybdenum occurs and no significant events occur outside of the Company's normal course of business. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: completion of the Karchiga Transaction and the Kogodai Transaction; uncertainty of capital and operating costs, adverse changes in commodity prices; the inability of the Company to obtain required financing for its planned activities; the inability of the Company to obtain required financing on favourable terms at all or arrange for the disposition of, and find potential buyers for, the Company's exploration interests or exploration projects; the negotiation and execution of the Sergeevskoe Agreement before the expiry of the exclusivity period; unsatisfactory due diligence results, the failure to obtain the necessary approval of the Russian Federation for the transfer of ownership of the Sergeevskoe Project, the failure to obtain approval of the Sergeevskoe Acquisition by Orsu shareholders, the failure to obtain the required authorizations and/or approvals from the TSX; the Company's inability to obtain, maintain, renew and/or extend required licenses, permits, authorizations and/or approvals from the appropriate regulatory authorities, adverse changes in the political environments in Kazakhstan and Kyrgyzstan and the laws governing the Company, its subsidiaries and their respective business activities; inflation; changes in exchange and interest rates; adverse general market conditions; lack of availability, at a reasonable cost or at all, of equipment or labour; the inability to attract and retain key management and personnel; the possibility of non-resident class members commencing individual claims in connection with the Claim; the possibility of non-compliance with environmental or other applicable laws and regulations; the Company's inability to delineate additional mineral resources and mineral reserves; and future unforeseen liabilities and other factors including, but not limited to, those listed under the "Risk and Uncertainties" section of the Company's annual MD&A. Any Russian style A, B, C1, C2 and P category figures referred to herein are historical estimates and no assurances can be given that the indicated levels of minerals will be verified and/or produced. Such estimates made at a given time may significantly change when new information becomes available. By their nature such estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. Due to the uncertainty that may be attached to such estimates, it cannot be assumed that all or any part of such estimates will be upgraded to mineral resource because of continued exploration. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether because of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

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