Orsu's Talas at 127 Mt of 1.04 g/t AuEq indicated

2010-09-27 07:16 ET - News Release

Dr. Alexander Yakubchuk reports

ORSU ANNOUNCES MINERAL RSEOURCES UPDATE ON TALAS JOINT VENTURE PROJECT IN KYRGYZSTAN

Orsu Metals Corp. has released a mineral resource constrained by a pit shell at the Taldybulak deposit at its Talas joint venture project in Kyrgyz Republic.

Following a 22,013-metre drilling program in 2008 and 2009 Gold Fields Limited has reported an updated mineral resource estimate for Taldybulak effective June 30, 2010, in its 2010 annual report according to the 2007 South African Code for the Reporting of Mineral Resources and Mineral Reserves. The following information regarding the Taldybulak mineral resource is derived from Gold Fields' 2010 annual report.

Gold Fields, through its subsidiary Gold Fields Orogen Holding BVI Limited, has a 60-per-cent interest in and is the operator of the Talas joint venture company (the indirect owner of the Taldybulak, Barkol, Kentash and Korgontash properties in the Talas region of the Kyrgyz Republic) whilst Orsu has a 40-per-cent interest. Taldybulak is a major deposit and has been the primary focus of exploration and mineral resource development within the Talas project licence area.

The Taldybulak mineral resource consists of an indicated resource of 127 million tonnes, consisting of 2.6 million ounces gold at 0.64 gram per tonne, 477 million pounds copper at 0.17 per cent and 29.4 million pounds molybdenum at 0.01 per cent, and an inferred resource of 296 million tonnes, consisting of 3.71 million ounces gold at 0.4 g/t, 1,098 million pounds copper at 0.17 per cent and 69.2 million pounds molybdenum at 0.01 per cent. Orsu's attributable resource based on this constrained calculation is 1.04 million ounces gold at 0.64 g/t, 191 million pounds copper at 0.17 per cent and 11.8 million pounds molybdenum at 0.01 per cent in the indicated category, and 1.48 million ounces gold at 0.4 g/t, 439 million pounds copper at 0.17 per cent and 27.7 million pounds molybdenum at 0.01 per cent in the inferred category.

            TALDYBULAK MINERAL RESOURCE ACCORDING TO SAMREC CODE

                          Equivalent Equivalent   Gold   Gold Copper Copper
Confidence       Quantity      grade      metal  grade  metal  grade  metal
classification       (Mt) (AuEq g/t) (AuEq Moz)  (g/t)  (Moz)    (%)  (Mlb)

Mineral resource total for deposit (100%)                                  
Indicated             127       1.04       4.23   0.64   2.60   0.17    477
Inferred              296       0.79       7.48   0.40   3.71   0.17  1,098
Mineral resource attributable to Gold Fields (60%)                         
Indicated              76       1.04       2.54   0.64   1.56   0.17    286
Inferred              178       0.79       4.49   0.40   2.23   0.17    659
Mineral resource attributable to Orsu (40%)                                
Indicated              51       1.04       1.69   0.64   1.04   0.17    191
Inferred              118       0.79       2.99   0.40   1.48   0.17    439

Confidence               Molybdenum       Molybdenum
classification             grade (%)      metal (Mlb)

Mineral resource total for deposit (100%)
Indicated                      0.01             29.4
Inferred                       0.01             69.2
Mineral resource attributable to Gold Fields (60%)
Indicated                      0.01             17.6
Inferred                       0.01             41.5
Mineral resource attributable to Orsu (40%)
Indicated                      0.01             11.8
Inferred                       0.01             27.7

The Taldybulak mineral resource is based on exploration activities and geological and mineral resource modelling completed on the Taldybulak deposit. The indicated and inferred mineral resource estimate according to the SAMREC code for Taldybulak is based on the same methods as described in the NI 43-101 technical report entitled "Updated Technical Report on the Taldybulak Property Held by Orsu Metals Corporation, Kyrgyzstan" dated March 22, 2010. The Taldybulak mineral resource according to the SAMREC code is also based on reasonable prospects for eventual economic extraction of the mineral resource supported by a life-of-mine pit shell based on mining and mineral processing assumptions.

Reconciliation between Taldybulak mineral resource estimates according to the SAMREC code and NI 43-101

The dataset used in the Taldybulak mineral resource is identical to the database used in the mineral resource estimate contained in the March, 2010, report. The Taldybulak mineral resource according to the SAMREC code is reported using an optimized pit shell while the mineral resource estimated in the March, 2010, report is reported at a 0.3 g/t gold cut-off grade without any pit shell constraint. As a result, the mineral resource estimate in the March, 2010, report does not include substantial mineral resources with low gold grade (less than 0.3 g/t gold) but having elevated copper grade. The table, "Comparison of SAMREC code and NI 43-101 mineral resources for Taldybulak," is included for comparison purposes and shows the effect of including the mineralized material outside the 0.3 g/t gold cut-off grade shell to produce the open pit constrained SAMREC code mineral resource.

 COMPARISON OF SAMREC CODE AND NI 43-101 MINERAL RESOURCES FOR TALDYBULAK

                                          Gold     Gold    Copper    Copper
Mineral       Confidence   Quantity      grade    metal     grade     metal
code      classification       (Mt)      (g/t)    (Moz)       (%)     (Mlb)

NI43-101       Indicated        141       0.66     2.99      0.17       527
                Inferred        153       0.66     3.24      0.15       506
SAMREC         Indicated        127       0.64      2.6      0.17       477
code            Inferred        296        0.4     3.71      0.17     1,098

Mineral        Molybdenum     Molybdenum
code             grade (%)    metal (Mlb)

NI 43-101            0.01             30
                     0.01             40
SAMREC               0.01           29.4
code                 0.01           69.2

Aside from minor technical differences in the approach to estimation and confidence classification the major difference between the NI 43-101 and SAMREC code mineral resource disclosure is the inclusion of substantial copper mineral resources outside of a 0.3 g/t gold shell.

The Talas joint venture is proceeding with metallurgical optimization studies to investigate the possibility of increasing recoveries and extracting metals from the oxidized ores. The joint venture is currently conducting a ground magnetic survey at Taldybulak using western magnetometer equipment.

Dr. Alexander Yakubchuk, director of exploration and chief operating officer, commented: "We are very pleased with the growth of Taldybulak. The results indicate the presence of a potentially large open-pittable gold-copper-molybdenum resource at the Taldybulak porphyry deposit. The joint venture will further focus on the improvement of metal grade as well as the processing and economic parameters of Taldybulak."

Dr. Yakubchuk, PhD, 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 and gas companies, has reviewed the contents of this press release. Dr. Yakubchuk has verified the data disclosed in this release, including sampling, analytical and test data underlying the information.