Drilling Programme Completed at Rudnitza

DRILLING PROGRAMME COMPLETED AT RUDNITZA COPPER-GOLD PORPHYRY PROSPECT WITHIN THE SUVA RUDA PROJECT, SERBIA

 

Tethyan Resources PLC (“Tethyan” or the “Company”) has completed its planned 4 diamond drill hole programme for a total of 2,127.6 metres on the Rudnitza copper-gold porphyry prospect within the Suva Ruda exploration permit located in Serbia.

The drilling programme, which was operated by contractor Drillex International d.o.o., successfully achieved the Company’s objectives through consistent drilling rates and positive local community support.

The last of the drill core samples have been dispatched to ALS Laboratories in Bor, Serbia, where they will be prepared for gold and multi-element assay. Additionally, Tethyan will submit a sub-set of samples for check assay at a second laboratory as a part of its Quality Control and Quality Assurance (QA/QC) procedures, as such the results of all four drill holes are expected to be received and released by the Company in mid-August.

Tethyan is immediately rehabilitating the drilling sites and access roads in accordance with recent warranties which Tethyan made to the Raska municipality and Rudniza community, demonstrating the Company’s commitment to sustainable operation.

Additionally Tethyan has now completed a comprehensive programme of engagement with local landowners, the municipality, utility companies and law enforcement agencies throughout the area of the planned TITAN Induced Polarisation (“IP”) geophysical survey, resulting in positive feedback for land access. The survey has been commissioned to commence in late-August following the harvest of key crops. Maps detailing the location of the ten planned IP survey lines can be found on the Company’s website.

Fabian Baker, COO of Tethyan, commented: “We are pleased to complete another well-run drilling programme at Rudnitza and look forward to receiving the results in August. Our focus is now to prepare for and carry out the TITAN IP survey, which we hope will guide our future drill programmes and identify new targets within this large mineralised system, which to date we have only drilled a small part of.”

 

For further information please contact:

Tethyan Resources PLC

+44 1534 881 885

Peter Mullens (CEO)

pjm@tethyan-resources.com

Cairn Financial Advisers LLP

+44 (0) 207 213 0880

James Caithie / Sandy Jamieson

 

SP Angel Corporate Finance LLP

Broker

Ewan Leggat

+44 (0) 20 3470 0470

Qualified Person

Peter Mullens, who has reviewed this update, has more than 30 years’ experience in the mining industry and is a Fellow of the Australian Institute of Mining and Metallurgy. He holds a BSc in Geology from Monash University, Melbourne, Australia.

 

About Tethyan

Tethyan Resources Plc (“Tethyan Resources”) is incorporated in England & Wales (company registration number 3781581) and is a gold and copper mineral exploration company. Tethyan Resources listed on AIM (TETH.L) in 2004.

Exploration is conducted in the Tethyan Belt of Eastern Europe, in particular Serbia where we are acquiring a portfolio of quality precious and base metals projects with known mineralisation and compelling drill targets.

Sustainability is paramount to all Tethyan’s activities. The long-term success of Tethyan Resources is connected to our ability to operate in a socially and environmentally responsible way. We are committed to proactively implement sustainable health, safety and environmental management, as well as engage with local communities and all stakeholders. Tethyan Resources’ business philosophy is to adhere to good international best practice (GIIP) and implement the highest standards of corporate governance.

More information can be found on our website: www.tethyan-resources.com. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Disclaimer

This announcement does not comprise a prospectus or other form of offering document relating to Tethyan Resources plc (“the Company”), and does not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other company and should not be relied on in connection with a decision to purchase or subscribe for any such securities.

The announcement does not constitute a recommendation regarding any decision to sell or purchase securities of the Company or any other company. Your attention is drawn to the risk factors set out below.

This announcement may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The Company’s current projects in Serbia are at an early stage and all estimates and projections are based on limited and possibly incomplete data. More work is required before geological and economic aspects can be confidently modelled. Actual results may differ materially from those currently anticipated in this announcement. No representation or prediction is intended as to the results of future work, nor can there be any guarantee that estimates and projections herein will be sustained in future work or that the Project will otherwise prove to be economic.