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Azarga Metals Corp.

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Summary

Project:

Unkur

Deposit:Unkur
Location:Russia
Commodities:Copper-Silver
Date:8/30/2018
Report Code:NI43-101
Report Type:PEA
Project Stage:Pursuing Resource Increase/Upgrade
Report details:30-8-2018: Azarga Metals Corp. announces a PEA report for its Unkur deposit at the Unkur project. PEA results incl. post-tax NPV of US $147.5M (8%), IRR of 24.4%, 8yr LOM at project. AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) annou
Resources:(Resource, Inf.): 62Mt @ 0.53% Cu, 38.60g/t Ag for 328.6Kt Cu, 76.88Moz Ag contained
CP/QP:[Overall Report]: Dorian L. Nicol (Internal)
ABSTRACT:AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) announces the positive findings of an independently prepared preliminary economic assessment for the development of its wholly-owned Unkur Copper-Silver Project in the Zabaikalsky administrative region of eastern Russia. The PEA is based on the current Inferred Mineral Resource estimate for Unkur of 62 million tonnes at 0.53% copper and 38.6g/t silver, containing 328,600 tonnes (724 million pounds) of copper and 76.8 million troy ounces of silver, as announced by the Company on 27 March 2018 (“2018 Mineral Resource”). Dorian L. (Dusty) Nicol, Azarga Metals’ President and CEO commented, “We are extremely encouraged that even based only on our initial exploration, Unkur is able to demonstrate a positive PEA result.” He then went on to say, “Additional exploration is expected to significantly grow the size of the deposit and this will likely continue to enhance the project economics when an updated PEA is prepared.”

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