Hansa Provides Update On Acquisision Of Zhumba Gold Property In Eastern Kazakhstan
August 27, 2013 - Vancouver, Canada - Hansa Resources Ltd ("Hansa" or the "Company") (TSXv-HRL; Frankfurt-3F2) provides the following update on the acquisition of the Zhumba Gold Property ("Zhumba") initially announced on June 14, 2012 and updated April 29, 2013.
In 2012 the Company established a 90% owned subsidiary in Kazakhstan, Altynor Resources Ltd. ("Alytnor"). Hansa holds a 90% interest in Altynor which in turn holds a 100% interest in Altyn-Komir Ltd. ("Komir"). By way of a government run public auction Komir won the exclusive right to negotiate with the government joint stock company "SPK Ertis" for the acquisition of Zhumba. Hansa has been funding an ongoing work program of baseline exploration activities as well as dealing with tenure related matters.
On August 16, 2013 Hansa received a copy of a letter dated August 9, 2013 from the Ministry of Industry and New Technologies of the Republic of Kazakhstan to SPK Ertis confirming the exploration license boundary for the exploration of gold on the site of Dzhumba in Eastern Kazakhstan. The Zhumba property consists of two claims being Area-1 consisting of 483.73 km2 and Area-2 consisting of 151 km2 for a total of 634.73 km2. Komir will now proceed to negotiate with SPK Ertis a joint venture agreement based on the material filed during the public auction process. Komir will also complete all actions required to gain the approvals necessary from all interested governmental agencies and departments.
In Hansa's news release dated June 14, 2012 the acquisition terms announced included the issuance of 10,000,000 common shares. These shares were contingent consideration subject to certain conditions precedent occurring. As the conditions will not occur the Company will not be issuing these 10,000,000 shares. Hansa has held and will continue to hold a 90% interest in Alytnor.
ABOUT HANSA RESOURCES LTD.
Hansa Resources Limited is a TSX-V and Frankfurt, listed Canadian mineral exploration company engaged in the acquisition, exploration and development of base and precious metal properties. Hansa Resources is committed to building shareholder value through minimizing risk and maximizing potential value of the Company's projects, utilizing Hansa's highly experienced, flexible and successful Board of Directors and Management.
On behalf of the Board,
John Nugent, President
For further information, please visit: www.hansaresources.com
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.