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Mangazeya Mining Ltd.

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Summary

Project:

Nsedkino

Deposit:Nasedkino
Location:Russia
Commodities:Gold-Copper
Date:8/28/2017
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:28-8-2017: Mangazeya Mining Ltd. announces a Resource Estimation report for its Nasedkino deposit at the Nsedkino project. Updated mineral resource and ore reserve at project. Wardell Armstrong International Limited (“WAI”) was commissioned by LLC Daltset
Resources:(Reserve, Prob.):9.109Mt @ 2.17g/t Au for 19.72t Au contained at project
CP/QP:[Resources]: Richard John Ellis (Wardell Armstrong International Ltd.)
ABSTRACT:Wardell Armstrong International Limited (“WAI”) was commissioned by LLC Daltsetmet (“Daltsvetmet”) in June 2016, to prepare an updated estimate of Mineral Resources in accordance with the guidelines of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves [JORC Code (2012)] for the Nasedkino Gold Project, East Siberia Russian Federation. WAI considers that the Nasedkino mineral resources and reserves are reported following the industry best practices and to be compliant as outlined in the National Instrument 43-101. The Nasedkino Gold Project is located in the Mogocha district, Zabaikalsky Krai, Russian Federation, 56km north west of Mogocha, the nearest town and accessed by a gravel (all-season) road, and 650km northeast of Chita, the regional capital. The nearest village is Chaldonka and is located 15.5km from the Nasedkino Gold Project and is accessed by an earth road. The Trans-Baikal railway runs 16km south of the site. Daltsvetmet holds two mining and exploration licences at the project. The first comprises mining and exploration licence ЧИТ 01663 БЭ and is valid until December 1, 2025. The licence covers an area of 10.9km2 and includes Pridolinny and Gora 5 deposits. The second comprises mining and exploration licence ЧИТ 02652 БP and is valid until December 31, 2036. The licence covers an area of 19.6km2 and includes Zhelanny and Pravoberezhny deposits.

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