OSU Orsu Metals

 
TIDMOSU 
 
Grant of License to Explore the Kogodai Area in Kazakhstan 
 
 
FOR:  ORSU METALS CORPORATION 
 
AIM, TSX SYMBOL:  OSU 
 
August 4, 2014 
 
Orsu Metals Corporation: Grant of License to Explore the Kogodai Area in Kazakhstan 
 
LONDON, UNITED KINGDOM--(Marketwired - Aug. 4, 2014) - Orsu Metals Corporation (TSX:OSU) (AIM:OSU) ("Orsu" or the 
"Company"), a dual listed London-based base and precious metals exploration and development company, today announces 
that its newly formed subsidiary, Kogodai Joint Venture LLP, an entity registered in Kazakhstan, has been granted an 
exploration license to jointly explore the Kogodai Project, located approximately 70 km north west of the Company's 
Karchiga Project in Kazakhstan. 
 
Highlights: 
 
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=-  Kogodai Joint Venture LLP has been granted an exploration license to 
    jointly explore a prospect located approximately 70 km north west of the 
    Company's Karchiga Project; 
 
=-  Historical exploration work at the Kogodai Project previously identified 
    the volcanogenic massive sulfide copper mineralization within the 
    Kuchum-Kalzhir metamorphic terrane, the same tectonic unit that hosts 
    the deposit of the Company's Karchiga Project in north-east Kazakhstan 
    (the "Kogodai Project"); 
 
=-  The exploration license for the Kogadai Project has been transferred 
    from SPK Ertis JSC, a Kazakh State-owned special enterprise company, to 
    Kogodai Joint Venture LLP in which the Company's 63.75% owned 
    subsidiary, Orsu Metals Kazakhstan LLP, has a majority 80% interest and 
    SPK Ertis JSC has a 20% minority interest, giving Orsu an effective 51% 
    interest in Kogodai Joint Venture LLP; 
 
=-  The historical exploration work (undertaken during the Soviet era) was 
    limited to seven drill holes, with mineralization confirmed in three of 
    these drill holes (see below results). Best mineralization was 
    intercepted in one drill hole, (C-91), with two mineralized intervals 
    within a package of 27 meters from 39.5 to 66.5 meters: 
 
    --  7 meters grading 0.86% Cu (from 39.5 to 46.5 meters), and 
 
    --  11 meters grading 0.77% Cu (from 54.5 to 65.5 meters), including 4 
        meters grading 1.1% Cu (from 61.5 to 65.5 meters). 
 
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Summary of the Kogodai Project license 
 
A summary of the key terms of the Kogodai Project exploration license is set out below: 
 
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1.  The exploration license at the Kogodai Project is for a period of five 
    years ending in 2019, which can be further extended according to the 
    legislation of the Republic of Kazakhstan. 
 
2.  Orsu will be required to make an initial investment, via Orsu 
    Kazakhstan, for a total value of $192,000 which includes $42,000 in 
    relation to a subscription bonus that has already been paid to the 
    relevant Kazakh authorities. 
 
3.  The minimum funding obligation for exploration work at the Kogodai 
    Project is: 
 
    a.  $525,100 for the first year commencing with the grant of the 
        license; 
 
    b.  $803,900 for the second year; and 
 
    c.  $1,258,100 for the third year. 
 
4.  Orsu will be required to fund all of the initial investment, which 
    includes the subscription bonus, and exploration work at the Kogodai 
    Project. It is expected that the exploration programme will be financed 
    from the Company's existing cash resources. 
 
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About the Kogodai Project license area 
 
Geologically, the Kogodai prospect occurs within the Kurchum-Kalzhir metamorphic terrane, the same tectonic unit that 
hosts the Company's Karchiga deposit. The massive sulfide mineralization was discovered during the Soviet era 
exploration work in the 1970's within a package of schist, gneiss and amphibolite. These rocks are deformed into a 
Kogodai syncline, trending for 25 km north-west and 5 km across. At surface the mineralizaiton can be traced along the 
southwestern limb of the syncline for 1.5 km using historical surface workings. During Soviet times, only seven holes 
were drilled at the Kogodai prospect, 600 m apart along its strike. Mineralization was confirmed in three of these drill 
holes, C-91, C-89 and C-75, as shown below. The principal sulphide minerals are pyrite, chalcopyrite, pyrrhotite and 
sphalerite. Copper grade varies from 0.28 to 2.62%. The by-product mineralization recorded in historic drill data 
includes zinc, ranging from 0.14% to 3.26%. 
 
Soviet era drill hole C-91 intercepted two mineralized intervals within a package of 27 meters from 39.5 meters to 66.5 
meters: 
 
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=-  7 meters grading 0.86% Cu (from 39.5 to 46.5 meters); and 
 
=-  11 meters grading 0.77% Cu (from 54.5 to 65.5 meters), including 4 
    meters grading 1.1% Cu (from 61.5 to 65.5 meters). 
 
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In a separate drill section, located approximately 600 meters to the north west from drill hole C-91, two drill holes (C- 
89 and C-75) also intercepted mineralization, confirming significant strike length of sulfide mineralization between the 
two drill sections. Drill hole C-89 intercepted disseminated sulfides grading between 0.12 and 0.48% Cu from 197 to 
208.6 meters. Soviet era drill hole C-75 intercepted a mineralized interval of 2.8 m grading 0.64% Cu (287.7 to 290.5 
meters), confirming a downdip continuation of mineralization from drill hole C-85. 
 
The mineralization at Kogodai remains open downdip and along strike. Similar mineralization is known at several other 
occurrences on the limbs of the Kogodai syncline within the Kogodai license area at Lotoshnoye, Fedorovskoye, Kanat and 
Tuyuk, recorded only in historical surface workings. 
 
No historical resource estimates of any kind have been published in relation to Kogodai or its satellite occurrences. 
Potential grade is conceptual in nature. There has been insufficient exploration on Kogodai to define a mineral resource 
and it is uncertain whether further exploration will result in the target being delineated as a mineral resource. 
 
The Soviet drill hole results, disclosed above, are from a report by A.A. Shatobin dated 1971 and titled "Geological 
report on exploration works of the South Altay exploration party, Ministry of Geology, of the Kazakh Soviet Socialist 
Republic". 
 
Dr Sergey V Kurzin, Executive Chairman of Orsu, commented: "The directors believe that the Kogodai Project license area 
hosts a massive sulfide mineralization which will compliment, in principal, a similar mineralization profile at the 
Company's Karchiga Project. Although immature from an exploration point of view, historical exploration work carried out 
at the Kogodai Project identified promising mineralized intervals with good development potential which warrants further 
exploration." 
 
/T/ 
 
Notes to Editors: 
1.  Dr Alexander Yakubchuk, Chief Operating Officer for Orsu and a qualified 
    person as such term is defined in National Instrument 43-101 and for the 
    purposes of the AIM Guidance Note for Mining, Oil & Gas Companies, has 
    reviewed the contents of this press release. 
2.  All $figures are United States Dollars unless otherwise indicated. 
 
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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 or referred to 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 Kogodai Project area, the anticipated funding 
of exploration and other costs by Orsu, management's expectations relating to the potential. 
 
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 and other risks relating to the regulatory 
framework in Kazakhstan, adverse changes in the political environment in Kazakhstan and the laws governing the Company, 
its subsidiaries and their respective business activities, uncertainties in the assumptions used, and the methodologies 
employed in, the technical information referred to herein, adverse changes in commodities prices, as well as certain 
other risks set out in the Company's public documents, including its annual information form dated March 24, 2014, filed 
under the Company's profile on SEDAR at www.sedar.com. 
 
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, licenses, authorizations and/or 
approvals from the appropriate regulatory authorities; 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 
Ryan Gaffney/ Neil Elliot 
+44 (0) 20 7523 8000 
 
OR 
 
Vanguard Shareholder Solutions 
+1 604 608 0824 
 
 
Orsu Metals Corporation 
 

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