Lydian International Ltd T.LYD

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Update on Environmental Audit

Market News Publishing10:47 AM Eastern Daylight Time Aug 08, 2019

 LYDIAN INTERNATIONAL LTD ("LYD-T;LYDIF-0") - Update on Environmental Audit Lydian International Limited ("Lydian" or the "Company") announced that the Government of Armenia has indicated during a regularly scheduled, televised Cabinet session, chaired by Prime Minister Nikol Pashinyan, that the current environmental audit of the Amulsar project has been concluded. The Head of the Special Investigative Committee of the Republic of Armenia (the "SIC"), the body in charge of the Amulsar related investigation, Mr. Hayk Grigoryan announced to the Cabinet that the final conclusions from the environmental audit conducted by Earth Link & Advanced Resources Development (the "Audit") were provided to the SIC on August 7. A full translation of the final conclusions of the Audit will be provided to the Government by the SIC early next week. The Head of the SIC also announced that Lydian answered all questions and issues raised during the Audit, the exchange of information during the Audit was exhaustive, and there is no likelihood of any need for additional time or clarifications for the Audit to come to a final conclusion. Lydian provided over 300 documents composed of over 20,000 pages of information, and participated in extensive technical discussions during the Audit over the past four months. This is the third audit on environmental matters Lydian has been obliged to participate in. Discussion during today's Cabinet meeting around the timing for delivery of the final conclusions of the Audit by the SIC indicated that the Government of Armenia will be ready to come to a conclusion on the matter next week. About Lydian International Limited Lydian is a gold developer focusing on construction at its 100%-owned Amulsar Gold Project, located in south-central Armenia. However, illegal blockades have prevented access to Amulsar since late June 2018. Amulsar will be a large-scale, low-cost operation with production targeted to average approximately 225,000 ounces annually over an initial 10-year mine life. Estimated mineral resources contain 3.5 million measured and indicated gold ounces and 1.3 million inferred gold ounces as outlined in the Q1 2017 Technical Report. Existing mineral resources beyond current reserves and open extensions provide opportunities to improve average annual production and extend the mine life. Lydian is committed to good international industry practices in all aspects of its operations including production, sustainability, and corporate social responsibility. For more information and to directly contact us, please visit www.lydianinternational.co.uk.