SMW COLD ANNOUNCES ASSAY RESULTS FOR COLD DEPOSITS IN EGYPT

摘要

SMW Gold, a junior exploration and mining company based in Moscow has announced results of its latest assay results on samples from its licensed El Fawakhir and Umm Balad territories in Egypt. The samples demonstrate content as high as 251 grams/ton at Fawakhir, taken from the trenches, and 232 grams/ton at Umm Balad, taken from an ancient mine. Of the latest 1400 samples analyzed, over 26 percent indicate gold grade of above 0.3 grams/ton. SMW Gold has been exploring for gold in Egypt in partnership with the Egyptian Mineral Resources Authority (EMRA) since 2007. The territories licensed to SMW Gold cover 1,500 km2 in the districts of Fawakhir, El Sid, Atalla, El Urf and several others in the Eastern Desert. These areas are known to have the highest historical occurrence of gold in the country. The licenses were granted under two production sharing agreements covering exploration and mining for the next 30 years that were ratified by the Egyptian Parliament in late 2007.