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Chaarat Gold Holdings Ltd.

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Summary

Project:

Chaarat

Deposit:Tulkubash Zone
Location:Kyrgyz Republic
Commodities:Gold
Date:1/31/2018
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Mine Development
Report details:31-1-2018: Chaarat Gold Holdings Ltd. announces a Resource Estimation report for its Tulkubash Zone deposit at the Chaarat project. Updated Measured and Indicated resource. Chaarat (AIM: CGH), the AIM quoted company developing the Chaarat Gold Project in
Resources:(Resource, M+I): 35.244Mt @ 0.86g/t Au for 917Koz contained at project
CP/QP:[Resources]: Mario Rossi (GeoSystems International Inc.)
ABSTRACT:Chaarat (AIM: CGH), the AIM quoted company developing the Chaarat Gold Project in the Kyrgyz Republic, announces a resource update at Tulkubash reported in compliance with JORC, following the successful 2017 drill programme. "This robust resource update, which significantly increases the tonnes and gold of the oxide resource, underpins our strategic plan to unlock value for our stakeholders, as well as highlighting the success of the 2017 drilling programme. These results demonstrate that we are on track with our strategy to develop the Chaarat deposit in stages: initially targeting the Tulkubash oxides; followed by the very substantial higher-grade refractory Kyzyltash resource within our mine license area. "Chaarat's new management team, which has significant experience in bringing mines into production, has made a number of changes to the reporting basis of this resource to ensure that it reflects the new information made available from the work on the feasibility study and the Company's proposed mining and processing methods in line with the updated strategy. To this end the Company has re-assessed the 2016 resource estimate to ensure that all data lies within our new reporting basis, giving us a better understanding of the resource. "Whilst we remain focused on the first stage of production, our exploration team is already planning the 2018 drilling programme, targeting the along strike continuity of the Tulkubash resources. Our better understanding of the geometry of the ore bodies obtained as part of our resource update has further added to our confidence that the oxide resource can be significantly extended along strike. I look forward to updating the market on this, and our feasibility study, in due course."

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