Pashinyan to ask Amulsar-related questions on online conference with ELARD

YEREVAN, August 23. /ARKA/. Armenian Prime Minister Nikol Pashinyan met Friday with residents of Jermuk over the commissioning of Amulsar gold mine and told them that he will hold an online conference with representatives of Earth Link & Advanced Resources Development (ELARD) Company on Thursday or Friday over Amulsar, and they will answer all questions and comment on their expert examination conclusion.

“The entire conversation will be translated, recorded, and released to public,” Pashinyan said. He called on people to ask questions to the company.

In February, 2019 the Armenian government decided to allocate USD 396,900 from its reserve fund to Earth Link & Advanced Resources Development (ELARD) for carrying out a comprehensive expert examination of the Amulsar project. The mine’s operation was ceased.

Lydian is a gold developer focused on construction at its 100%-owned Amulsar Gold Project, located in south-central Armenia. However, illegal blockades have prevented access to Amulsar since late June 2018. Amulsar is expected to be a large-scale, low-cost operation with production targeted to average approximately 225,000 ounces annually over an initial 10-year mine life.

Estimated mineral resources contain 3.5 million measured and indicated gold ounces and 1.3 million inferred gold ounces as outlined in the Q1 2017 Technical Report. Existing mineral resources beyond current reserves and open extensions provide opportunities to improve average annual production and extend the mine life. Lydian is committed to good international industry practices in all aspects of its operations including production, sustainability, and corporate social responsibility. -0-