OSU Orsu Metals

 
TIDMOSU 
 
New Exclusive Right to Continue Joint Exploration of East Balkhash 2 
FOR:  ORSU METALS CORPORATION 
 
TSX, AIM SYMBOL:  OSU 
 
September 20, 2013 
 
New Exclusive Right to Continue Joint Exploration of East Balkhash 2 
 
LONDON, UNITED KINGDOM--(Marketwired - Sept. 20, 2013) - Orsu Metals Corporation ("Orsu" or the "Company"), the 
dual listed (TSX:OSU)(AIM:OSU) London-based base and precious metals exploration and development company, today 
announces that it has entered into a new exclusivity agreement (the "Agreement") with Asem Tas-N LLC ("Asem 
Tas") to continue joint exploration of the Balkhash Project and has agreed an amended work programme for the 
remainder of 2013 ("Amended 2013 Work Programme"). The Agreement replaces the exclusivity agreement announced 
on April 22, 2013 ("April 2013 Agreement"), which in turn replaced the original exclusivity agreement announced 
in November 2012. 
 
The key terms of the Agreement are summarised below: 
 
1.  Orsu is granted a further exclusive right for a period of 175 days, 
    ending in March 2014 (previously expiring in September 2013 under the 
    April 2013 Agreement), subject to extension by mutual agreement of the 
    parties (the "Exclusivity Period"), to explore and participate in the 
    Balkhash Project. 
 
2.  During the Exclusivity Period: 
 
    a.  Orsu and Asem Tas will continue to jointly explore the Balkhash 
        Project, including geophysical works and verification drilling of 
        exploration targets, 
 
    b.  Orsu will provide funding for exploration works at the Balkhash 
        Project in the amount of approximately $1.4 million under the 
        Amended 2013 Work Programme (including the $0.9 million already 
        spent in 2013 pursuant to the April 2013 Agreement) representing an 
        increase of approximately $0.5 million over the original work 
        programme for 2013, and 
 
    c.  Asem Tas will apply to transfer the exploration licence for the 
        Balkhash Project (the "Licence") to a newly formed Kazakh legal 
        entity jointly owned by Orsu and Asem Tas (the "Joint Venture 
        Company"), in which Orsu will hold an effective interest of 55%. A 
        transfer of the Licence to the Joint Venture Company will be 
        conditional upon obtaining a formal waiver of the Kazakh 
        Government's pre-emptive right. 
 
3.  Orsu has agreed to pay to Asem Tas: 
 
    a.  up to $1.5 million to compensate Asem Tas for historical exploration 
        costs incurred prior to 2012 (excluding any costs funded by Orsu) on 
        effective transfer of the Licence, 
 
    b.  $20 per tonne of economically extractable copper equivalent, up to a 
        maximum of $10 million, less any amount paid under a. above, on or 
        before completion of a positive preliminary economic assessment 
        study, and 
 
    c.  $20 per additional tonne of economically extractable copper 
        equivalent, up to a maximum of $15 million, less any amounts paid 
        under a. and b. above, on completion of a positive definitive 
        feasibility study. 
 
4.  Following the effective transfer of the Licence Orsu will finance the 
    works until completion of the definitive feasibility study, subject to 
    any earlier termination of funding, and Orsu will be responsible for 
    arranging project finance for any the future development of the Balkhash 
    Project. 
 
5.  Orsu may terminate its funding at any point before the earlier of the 
    effective transfer of the Licence or the end of the Exclusivity Period. 
    Where the approval of the relevant authorities for the transfer of the 
    Licence is not received due to a breach by Asem Tas, or the Kazakh 
    Government exercises its pre-emptive right to acquire the Licence during 
    the transfer process, Asem Tas is required to refund Orsu for its 
    expenditure in connection with the original agreement signed in November 
    2012 and the Amended 2013 Work Programme (including the amounts already 
    funded under the April 2013 Agreement). 
 
6.  Under the terms of the Agreement, Orsu will have the right to buy-out 
    all or part of the interest of Asem Tas in the Joint Venture Company, 
    for cash or shares, at a price determined by an independent expert. 
 
Further details on the Balkhash Project are available in the Company's announcement dated November 12, 2012. 
 
Notes to Editors: 
 
1. All $ figures are United States Dollars unless otherwise indicated. 
 
FORWARD-LOOKING INFORMATION 
 
This press release contains forward-looking information which is not comprised of historical facts. Forward- 
looking information involves risks, uncertainties and other factors that could cause actual events, results, 
performance and opportunities to differ materially from those expressed or implied by such forward-looking 
information. Forward-looking information contained in this press release includes, but may not be limited to, 
the expected exploration activities by the Company related to, and the general development of, the Balkhash 
Project, and the anticipated funding of exploration and other costs by Orsu. 
 
Factors that could cause actual results to differ materially from those described in such forward-looking 
information include, but are not limited to, uncertainties in the interpretation of drill and test results, 
risks normally incidental to exploration and development of mineral properties, the possibility that future 
exploration, development and/or mining results will not be consistent with expectations, the Company's 
inability to raise additional finance as and when needed, the Company's inability to obtain, maintain, renew 
and/or extend required licences, permits, authorizations and/or approvals from the appropriate regulatory 
authorities (including an inability to obtain the waiver of the Kazakh Government's pre-emptive right in 
connection with the Licence transfer application) and other risks relating to the regulatory framework in 
Kazakhstan and adverse changes in the political environment and laws in Kazakhstan. 
 
The forward-looking information in this press release reflects the current expectations, assumptions and/or 
beliefs of the Company based on information currently available to the Company. In connection with the forward- 
looking information contained in this press release, the Company has made assumptions about: the Company's 
business, the economy and the mineral resources development and extraction industry in general; the Company's 
ability to raise required additional financing; the ability to obtain, maintain, renew and/or extend required 
permits, licences, authorizations and/or approvals from the appropriate regulatory authorities (including in 
connection with the Licence transfer application); and the ability to continue to obtain qualified staff and 
equipment in a timely and cost-efficient manner to meet demands. The Company has also assumed that no 
significant events occur outside of the Company's normal course of business. Although the Company believes that 
the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not 
a guarantee of future performance and accordingly undue reliance should not be put on such information due to 
the inherent uncertainty therein. 
 
Any forward-looking information speaks only as of the date on which it is made and, except as may be required 
by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking 
information, whether as a result of new information, future events or results or otherwise. 
 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Orsu Metals Corporation 
Dr Alexander Yakubchuk 
Chief Operating Officer 
+44 (0) 20 7518 3999 
www.orsumetals.com 
 
OR 
 
Canaccord Genuity Limited 
Andrew Chubb 
+44 (0) 20 7523 8000 
 
OR 
 
Canaccord Genuity Limited 
Ryan Gaffney 
+44 (0) 20 7523 8000 
 
OR 
 
Vanguard Shareholder Solutions 
+1 604 608 0824 
 
 
Orsu Metals Corporation 
 

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