NEWS & MEDIA

Georgian Mining Corporation – Appointment of New Cabinet in Georgian Government

17 July 2018

Georgian Mining Corporation advises that the Parliament of Georgia has today confirmed the appointments of its new cabinet ministers, following the resignation of the former Prime Minister and his cabinet on June 13th, 2018.

Mike Struthers, Chief Executive Officer, said

These new appointments are great news for the Company as they are the first milestone that we have been waiting for in the remaining steps towards extending our exploration permits.

“As we explained in our recent announcement (on 5th July 2018) although the previous Minister of Economy endorsed our application just before the former Prime Minister resigned, it is necessary for the new Minister to also endorse the application before the Government Resolution can be circulated and approved.

“Although it is difficult to be precise as to when the overall process will be completed, this is an important step forwards.  We continue to remain optimistic this will be resolved soon and allow us to push ahead with our 2018 work programme.”

Some of the key ministerial appointments include:

  • Minister of Economy – Giorgi Kobulia;
  • Minister of Finance – Ivane Machavariani;
  • Minister of Environment Protection and Agriculture – Levan Davitashvili;
  • Regional Development and Infrastructure Minister- Maia Tskitishvili;

Further information is available in the following links:

http://georgiatoday.ge/news/11295/Georgian-Parliament-Approves-Reshuffled-Cabinet

http://gov.ge/index.php?lang_id=ENG&sec_id=497&info_id=66993

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

 

For further information please visit www.georgianmining.com  or contact:

 

Mike Struthers Georgian Mining Corporation Company Tel: 020 7907 9327
Ewan Leggat S. P. Angel Corporate Finance LLP Nomad & Broker Tel: 020 3470 0470
Soltan Tagiev S. P. Angel Corporate Finance LLP Nomad & Broker Tel: 020 3470 0470
Damon Heath Shard Capital Partners LLP Joint Broker Tel: 020 7186 9950
Camilla Horsfall Blytheweigh PR Tel: 020 7138 3224
Simon Woods Blytheweigh PR Tel: 020 7138 3204

 

 

About Georgian Mining Corporation

Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines.  The Bolnisi licence covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which will advance to Feasibility Study in 2018.  These projects are proximal to several advanced projects and existing mining operations owned by the Company’s joint venture partner, and their sister production company.  Georgia has an established mining code and is a jurisdiction open to direct foreign investment.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.