Lydian International Limited (TSX: LYD) (“Lydian” or the “Company”) announced today that it has provided the Special Investigative Committee of the Republic of Armenia with responses to the recommendations contained in the report prepared by Earth Link & Advanced Resources Development on its audit of environmental aspects of the Amulsar Project (the “Audit Report”).
Copies of the Audit Report are available in English and Armenian at:
Lydian’s responses to the recommendations in the Audit Report are available in English at:
And in Armenian at:
Edward Sellers, Interim President & CEO of Lydian International, commented: “The Audit Report substantiated Lydian’s prudential approach to environmental stewardship. Lydian’s responses to the recommendations contained in the Audit Report speak for themselves, and Lydian has made its responses public so that fair minded people will be fully informed.”
Mr. Sellers continued: “Lydian’s environmental practices meet or exceed all applicable international standards, and were fully evaluated and confirmed as part of the comprehensive assessment under which Lydian received its mining permits.”
“The Company provided every piece of information requested of it as part of the audit, and all information was consistent with that provided by or on behalf of the Company in support of prior environmental assessments and numerous audits. The information provided was more than sufficient for the authors of the Audit Report to form professional judgements consistent with those of other international experts who have previously considered the matters covered by the audit.”
Lydian operates in Armenia in accordance with its mining permits, which were granted based on a comprehensive Environmental Impact Assessment approval process. Nevertheless, Lydian’s Amulsar Project has been subject to three full-scale environmental audits since July last year. Lydian has fully cooperated with all audits.
About Lydian International Limited
Lydian is a gold developer focused on construction at its 100%-owned Amulsar 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. For more information and to directly contact us, please visit www.lydianinternational.co.uk.
For further information, please contact:
|Edward Sellers, Interim President & CEO
|Bill Dean, Chief Financial Officer