| ||Mon Apr 29, 2013|
Hansa Provides Update on Acquisision of Zhumba Gold Property in Eastern Kazakhstan
| ||April 29, 2013 - Vancouver, Canada -- Hansa Resources Ltd ("Hansa" or the "Company") (TSXv-HRL; Frankfurt-3F2) provides the following update on the acquisition of the Zhumba Gold property announced on June 14, 2012. |
In June 2012, Hansa entered into an agreement with Altynor Mining Limited ("Altynor") for the acquisition of 81% of the shares of Altyn-Komir Ltd. ("Komir"), a private Kazakh company. Komir had won a public tender for the right to negotiate with the government of the Republic of Kazakhstan for the Zhumba gold project in the Kokpektinsky and Ulansky districts in eastern Kazakhstan.
The process and negotiations between Komir and the government have been exceedingly slow and difficult and have raised issues, including title issues, that may or may not be resolved. A condition of the initial agreement was that Dr. Vladimir Benes, President and CEO of Altynor, would be appointed as President and CEO of Hansa. It was anticipated that Altynor's exploration team would also join Hansa. As Dr. Benes has been retained by a major international mining company, neither he nor his team will be joining Hansa on closing.
Hansa is in discussion with the vendors to amend the initial acquisition terms. Negotiations are ongoing and will be announced once finalized.
ABOUT HANSA RESOURCES LTD.
Hansa Resources Limited is a TSX-V and Frankfurt, listed Canadian mineral exploration company engaged in the acquisition, exploration and development of base and precious metal properties. Hansa Resources is committed to building shareholder value through minimizing risk and maximizing potential value of the Company's projects, utilizing Hansa's highly experienced, flexible and successful Board of Directors and Management.
On behalf of the Board,
John Nugent, President
For further information, please visit:
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.