Russian-Armenian JV To Start Uranium Exploration In June

RUSSIAN-ARMENIAN JV TO START URANIUM EXPLORATION IN JUNE

Prime-Tass English-language Business Newswire
January 27, 2009 Tuesday 1:06 PM EET

Armenian-Russian Mining Company plans to launch geological exploration
at several uranium ore fields in Armenia in June, Mkrtich Kirakosyan,
the company’s general director, told Prime-Tass on Tuesday.

The company plans to invest U.S. $3 million in geological exploration,
Kirakosyan said.

Armenian-Russian Mining Company was established in 2008 by Russian
state-owned mining company Atomredmetzoloto and Armenia’s Ministry
of Energy and Natural Resources.

Uranium ore reserves in Armenia are estimated at 30,000 tonnes,
under preliminary data.

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