The Kazakhstan Ministry of Industry and New technologies has approved Slater Mining’s acquisition of the West Khazret gold project. The company signed an agreement in April 2012 outlining a three-year option for purchase of the project in northwest Kazakhstan.

Slater Mining anticipated the approval and began an exploration program at the site in July last year which consisted of a grid geochemical soil sampling program over the western third of the project area, including the entire Sineshikhan Fault.

To date, 2530 samples have been taken on 100 metre sample intervals on lines 400 metres apart with assays pending. This program will continue over the entire 320sqkm project area including the outcropping Birsuat prospect to the east. Orientation geochemistry has provided very encouraging results confirming known mineralization from drilling in the Sineshikhan Fault and identifying additional drill targets.

Trenches have also been excavated across numerous areas of outcropping quartz vein mineralization and areas of historic mining activity to determine width and grade of the mineralization. There have been 523 trench channel samples taken to date with assays pending.

A 40,000 metre drill program is planned for 2013 targeting the shallow oxide mineralization to approximately 70 metres depth. All permits have been received and initial drill targets identified.

Slater Mining’s chief executive officer Ian Slater says, “This is a very exciting brownfield project with enormous upside potential. Now that we have received all necessary approvals, we look forward to commencing the next phase of drilling, including confirmatory holes in the known mineralization and resource delineation over the entire 16km of the Sineshikhan Fault.”

The West Khazret gold project is within the Urals Tectonic Belt which is prolifically rich in both base and precious metals. Slater Mining is focused on bringing the major oxide open pit potential to account through shallow drilling, metallurgical test work and subsequent conventional heap leach mine development. A 220kV power line and roads traverse the project area.

www.slatermining.com

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