Thu Apr 27, 2017
Zhumba Gold Property Update
Vancouver, Canada - Hansa Resources Ltd. ("Hansa" or the "Company") (TSXv-HRL; Frankfurt-3F2) Mr. John Nugent, President, provides this update on the Company's Zhumba gold property in Eastern Kazakhstan.
On June 14th 2012 the Company announced the acquisition of the Zhumba property. In order to acquire the Zhumba property the Company agreed to certain staged cash payments of approximately USD $200,000 and the Company also agreed to fund work programs of approximately US $ 4.7 million. The funding commitment for the work programs did not commence until granting of the concession and were spread over six years.
The Zhumba property consists of two claims covering approximately 260 square kilometers and is located in the southeast continuation of the West Kalba gold belt hosting a number of producing gold mines including the significant Bakyrchik deposit. The regional center of Ust Kamenogorsk is located 200km from Zhumba along a paved road.
The Company worked to deal with all government agencies in regards to the Zhumba property and after extensive negotiations was advised by the government of Kazakhstan, through the Ministry of Industry and New Technologies, that the concession to the Zhumba property was granted and in full force and effect.
To advance the development of the Zhumba property the Company funded baseline exploration activities to identify exploration targets. The work programs were focused on identifying prospects which would attract interest of farm out candidates. The Company has been advancing its farm out negotiations and further news will be announced when available.
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.