TIDMAMC

Amur Minerals Corporation

12 June 2020

12 June 2020

AMUR MINERALS CORPORATION

(AIM: AMC)

Posting of Q&A ahead of EGM

Amur Minerals Corporation ("Amur" or the "Company"), is pleased to announce the questions and answers ahead of the Extraordinary General Meeting (as per the announcement dated 2 June 2020).

Details of the resolutions for consideration can be downloaded from the Company's website, www.amurminerals.com under "Investor InfoAim Rule 26".

The General Meeting will be kept as concise and efficient as possible and physical attendance will be limited to the minimum number of persons to ensure the meeting is quorate and to conduct the business of the meeting.

 
 Q.   Can you clarify if the 75% majority relates to votes cast 
       at the EGM or to the total number of shares on issue. 
 A.   75% of the votes cast at the EGM. 
     ---------------------------------------------------------- 
 
 
 Q.   When can the market expect to be updated on the long-promised 
       project economics which include the 2018 drilling data. 
 A.   As noted in the RNS dated 11 June 2020, with the completion 
       of the metallurgical results for the nickel and copper 
       concentrates, as well as the receipt of non-binding indicative 
       offtake terms which covers both concentrates (as well 
       as the by-product metals of platinum, palladium, gold, 
       silver etc), the Company can now use this information 
       for the calculation of reserves, cut-off grades, mine 
       scheduling and the project economics. The ability to generate 
       and market two concentrates can have a material impact 
       on the reserves, cut-off grades etc. This work is currently 
       underway. 
     ---------------------------------------------------------------- 
 
 
 Q.   The Board of Directors recently advised the market that 
       the license was at risk if the lockdown was extended indefinitely 
       and an extension to the 1(st) December 2020 deadline not 
       granted. Could you also please advise whether an extension 
       has been sought to the deadline, if it hasn't yet, will 
       it. If so, are the board of directors confident it will 
       be granted. 
 
       Is AMC still on target to complete its TEO by December 
       20 given that countries have started lifting restrictions? 
 
       Can you also advise if the 1st December TEO deadline will 
       be met and if not, the company has applied for an extension 
       and what are its chances of being granted? 
 A.   As noted in the announcements made on the 1 June 2020 
       and 11 June 2020, progress on the TEO is proceeding, and 
       on schedule. The Board and management are closely monitoring 
       progress and the projected timings to completion. 
 
       As a note - the Russian Federation subsoil law allows 
       us to file for an extension should this be necessary. 
     ------------------------------------------------------------------- 
 
 
 Q.   Last year various Directors and Senior Staff sacrificed 
       their salary and took shares at a later date. Could you 
       please advise whether this is still continuing? If so, 
       which Directors and Senior Staff are taking part. 
 
       Are all the Directors continuing to take shares in lieu 
       of salary? 
 A.   As noted in the RNS dated 2 December 2019, certain Directors 
       and Executive Management participated in a subscription 
       of shares in satisfaction of salaries and fees. The option 
       to take shares in lieu of cash is open to all Directors 
       and Executive Management. The Company must be in an open 
       period for such grants of shares to be placed. 
     ------------------------------------------------------------- 
 
 
 Q.   The reasons given for the EGM and share issue authority 
       state that the shares are to be used for Mergers, Acquisitions 
       & Investments. Could you please provide examples of the 
       type of investments that the Board of Directors would 
       likely consider. 
 A.   Please refer to the Notice of General Meeting, section 
       2, first paragraph: 
 
       "... opportunities such as mergers, acquisitions or investments 
       which would benefit the Company's business. Such potential 
       transactions include acquiring interests in revenue generating 
       assets or financial instruments within the mining sector 
       to provide the Company with a reliable source of income 
       going forward, or where the Company will be able to add 
       short to medium-term value" 
     ----------------------------------------------------------------- 
 
 
 Q.   The company has recently raised funds, apart from the 
       loan repayment, how have the funds been used? 
 A.        Work completed to progress the TEO, as noted in the Company's 
            announcement's throughout 2020, has resulted in: 
             *    Completion of the Base Line Environmental assessment 
 
 
             *    Completion of the Rock Mechanics assessment 
 
 
             *    Completion of Hydrological assessment 
 
 
             *    Completion of Crushing and Grinding metallurgical 
                  testwork defining comminution requirements 
 
 
             *    Completion of the generation of a bulk concentrate 
 
 
             *    Completion of the Copper Concentrate test work 
 
 
 
            Looking forward the following undertakings are underway: 
             *    Reserves calculation 
 
 
             *    Cut-off grade determination 
 
 
             *    Mine scheduling 
 
 
             *    Operating cost updates and adjustments to mine 
                  capital requirements 
 
 
             *    Project Economic assessment 
     ------------------------------------------------------------------- 
 
 
 Q.   Could you please advise whether an NDA or other form of 
       confidentiality agreement is in place for a Merger, Acquisition 
       or Investment for which the requested share issue authority 
       is anticipated to be required for? 
 A.   As often discussed in many of Amur's presentations, the 
       definition of a Non-Disclosure Agreement precludes the 
       Company from discussing the existence or absence of any 
       such NDA. 
     ----------------------------------------------------------------- 
 
 
 Q.   Given you want a huge increase in the number of shares, 
       can shareholders be given a chance to vote on future placings 
       and reasons as to why they are required? 
 A.   As noted in the Notice of General Meeting, section 2, 
       second paragraph: 
 
       "The Board therefore wishes to seek shareholder approval 
       for the authorities set out in the Notice of General Meeting, 
       in order to move quickly to completion when any proposed 
       merger, acquisition or investment is agreed and be in 
       a position to utilise share authorities." 
     --------------------------------------------------------------- 
 

Enquiries:

 
       Company                Nomad and Broker          Public Relations 
  Amur Minerals Corp.    S.P. Angel Corporate Finance      Blytheweigh 
                                     LLP 
   Robin Young CEO            Richard Morrison             Megan Ray 
                                Soltan Tagiev              Tim Blythe 
                                                        +44 (0) 20 7138 
    +7(4212)755615           +44(0)20 3470 0470               3203 
 

Notes to Editors

The information contained in this announcement has been reviewed and approved by the CEO of Amur, Mr. Robin Young. Mr. Young is a Geological Engineer (cum laude), a Professional Geologist licensed by the Utah Division of Occupational and Professional Licensing, and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges and a qualified person as defined by the AIM Rules for Companies. An employee of Amur for 15 years, previously Mr. Young was employed as an independent consultant with Fluor Engineers, Fluor Australia and Western Services Engineering, Inc. during which time his responsibilities included the independent compilation of resources and reserves in accordance with JORC standards. In addition, he was the lead engineer and participant of numerous studies and projects requiring the compilation of independent Bankable Studies utilised to finance small to large scale projects located worldwide. Mr. Young is responsible for the content of this announcement.

For further information, and Company updates see the Company website at www.amurminerals.com and twitter page @ amur_minerals.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 12, 2020 10:40 ET (14:40 GMT)

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