AR. Archipelago Res

TIDMAR.

RNS Number : 3139D

Archipelago Resources PLC

26 April 2013

26 April 2013

AIM: AR.

Archipelago Resources plc

("Archipelago" or "the Company")

Updated resource estimates for Archipelago's Toka Tindung Mine

Archipelago is pleased to announce an increase in the mineral resource estimate for its 95% owned Toka Tindung Mine in North Sulawesi, Indonesia.

HIGHLIGHTS

-- Total resource has increased to over 3M Au oz. On a gold equivalent basis, the overall resource has increased to 3.1M Au Eq oz.

-- Excluding silver as gold equivalent ounces and net of depletion from mining, the contained gold resource has increased by more than 400,000 ounces or 16% (in addition to the 52% increase reported in the previous update to the Company's resource statement in January 2012).

-- Resource from the high grade Batupangah or southern deposits increased significantly by 34% to 1.34M Au oz.

-- Studies are continuing in relation to mine optimisation and plant expansion, which will impact on the upgrade to the ore reserve. The Company expects to release an updated ore reserve estimate in conjunction with study outcomes towards the end of Q2 2013.

-- Further exploration drilling is continuing at site. Archipelago expects to commence drilling on the prospective Marawuwung area to the west of the main Toka pit in the near future.

COMMENT

Mr Marcus Engelbrecht, Managing Director and CEO commented:

"The continued expansion of Archipelago's mineral resource is a further achievement for the Company and builds on our exploration successes during 2012. The material increase in the resource at the high grade southern deposits is particularly encouraging. Archipelago continues to focus its efforts on the optimisation, heap leach and expansion studies, with the aim of generating low cost production growth in the near to mid-term. The optimisation and expansion scenarios are expected to drive an update to the ore reserve estimate, to be released in conjunction with the results of the studies."

For the full release please click on the link below:

http://www.rns-pdf.londonstockexchange.com/rns/3139D_-2013-4-26.pdf

This information is provided by RNS

The company news service from the London Stock Exchange

END

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