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April 9, 2013

Bisha Mining Announces Q1 2013 Operating Results

Q1 2013 OPERATING HIGHLIGHTS

  • Gold production - 42,000 ounces, in line with guidance
  • Ore mined - 475,000 tonnes
  • Waste mined – 1,925,000 tonnes
  • Milled – 432,000 tonnes at 4.14 g/t gold and 79% recovery

Bisha Mining Share Company is pleased to announce gold production results of 42,000 ounces for the quarter ending March 31, 2013, which is in line with previous guidance of 80,000 to 90,000 ounces of gold for the first half of 2013.

Waste mined in the quarter was 1,925,000 tonnes for a strip ratio of 5.1:1 by volume.  The 432,000 tonnes milled was inclusive of a planned two week mill shut-down for mill re-lining and readying for the copper transition later this year.

The copper phase transition continues on plan, for plant commissioning mid this year.

Forward Looking Statements: The above contains forward-looking statements future gold production, copper phase expansion, and transition to copper production.  Forward-looking statements are frequently, but not always, identified by words such as “expects,” “anticipates,” “believes,” “intends,” “estimated,” “potential,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could” or “should” occur or be achieved.  Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors.  The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future.

 

Bisha Mining Share Company

“Cliff T. Davis”

Cliff T. Davis
Chairman