Auriant Mining AB publishes Q1 2020 operational update

• Q1 2020 gold production amounted to 278 kg (8,946 oz), compared to 86 kg (2,773 oz) in Q1 2019, an increase of 223%, or 192 kg (6,173 oz);
• Q1 2020 gold sales amounted to 317 kg (10,193 oz), compared to 98 kg (3,157 oz) in Q1 2019, an increase of 219 kg (7,036 oz);
• Volume of ore processed through the newly built CIL plant amounted to 100 thousand tonnes with an average grade of 3.04 g/t (total gold in processed ore – 303 kg);
• Over the ramp up period, the Company reached projected throughput per working hour (50 t/hour) and recovery rate (>90%);
• Heap leach operations were discontinued at the end of December. As a result, the Company didn’t crush any ore or produce any gold from the heap leach in Q1 2020;
• Ore mined amounted to 26 thousand tonnes (9% lower than the same period in the previous year). Stripping volume in Q1 2020 was 234 thousand m3 (15% lower than in Q1 2019). As at the beginning of Q1 2020, the Company had a sufficient ore stockpile to feed the CIL plant until mid April. Therefore in Q1 2020, the Company focused its mining works on leveling up the pit and securing access to ore.
• The average grade in ore mined in Q1 2020 was 2.10 g/t, as compared to 2.48 g/t in Q1 2019, a decrease of 16%. Once there was a sufficient ore stock pile at the end of the year, low grade ore block, set aside in Q4 2019 from the northern part of the pit, was mined. Thus, the grade in Q1 2020 was in accordance with the Company’s mineplan. Average grade for the full year 2020 is expected to be 2.71 g/t.

Commenting on the results of Q1 2020, Sergey Ustimenko, CEO, said:

“Q1 2020 is the first quarter that the Company has operated the newly built CIL plant. After start up in November 2019, the CIL plant quickly achieved projected throughput and recovery. Until the end of January 2020 we were feeding the CIL plant with high grade ore and were able to produce 115 kg of gold in that month. Since February, the CIL plant feed has been regular ore; thus, production in February and March will reflect the average production level expected during the remaining part of 2020. Production in February and March was 75 and 88 kg respectively.”

Tardan

For more information please contact:

Sergey Ustimenko, CEO Tel: +7 495 109 02 82
E-mail: sergey.ustimenko@auriant.com

Company name: Auriant Mining AB Short name: AUR
ISIN-code: SE0001337213

Website: www.auriant.com
www.facebook.com/AuriantMining/

Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including two operating mines (Tardan and Solcocon), one early stage exploration asset and one development asset.

Since July 19, 2010, Auriant Mining´s shares are traded on Nasdaq First North Premier Growth Market under the short name AUR. For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50, e-mail CA@mangold.se or visit www.mangold.se.

This information is information that Auriant Mining AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on April 15th , 2020.

Cautionary Statement: Statements and assumptions made in this report with respect to Auriant Mining AB’s (“AUR”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts. This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.

Attachment

• Press release (MAR)_Q1 2020 Operational update_ENG