Vous êtes sur la page 1sur 2

Hummingbird Resources

Feb 1st 2012

UK: +44 (0)1202 770386 NA: +1 646 896 3065 AU +61 2 9222 2832 action@proactiveinvestors.com www.proactiveinvestors.co.uk

Hummingbird Resources: Tuzon propels Dugbe 1 estimate to 3.8 million ounces of gold - UPDATE
Hummingbird Resources (LON:HUM) this morning unveiled a maiden resource for the Tuzon prospect in Liberia of 2.05 million ounces of gold bringing the global resource estimate for the Dugbe 1 project area to 3.8 million ounces. The figure is well ahead of analysts' expectations, but the company says there is scope for further resource growth within a minable radius of the original Dugbe F deposit. The deposit grade at Tuzon, its geology and general mineralogy look to be consistent with Dugbe F, simplifying project engineering, Hummingbird said. Chief executive Dan Betts said: "The significance of this maiden resource discovery at Tuzon cannot be under estimated. It marks a seminal moment in the development of our company. "The Tuzon resource is more than just a significant discovery because it has potential to be part of the same mine development as the Dugbe F deposit. "The Dugbe 1 Project now has a global Resource of 3.8 million ounces. "During 2011 we have added 3 million ounces of gold at a discovery cost of $6 per ounce. "Tuzon itself is not yet drilled out, but the most exciting thing for me is that we have several other targets within the mineable radius of the Dugbe 1 project, which we are looking to drill imminently. "Further afield along the shear zone we have many more. The potential of this region is really only just starting to be realised, as has been demonstrated by the speed of this discovery. "We now have a tremendous opportunity not just to discover more gold in what we believe to be a virgin, multi-mine world class gold province, but to build Liberia's first multi-million ounce Birimian Gold mine. "We are now setting up a dedicated evaluation team to drive the Dugbe 1 project forward to deliver this."

Price: Market Cap:


1 Year Share Price Graph

159.25p 84.97M

Share Information
Code: Listing: Sector: Website: HUM LSE General Mining - Gold

www.hummingbirdresources.co.uk

Company Synopsis:
Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Company and its subsidiaries (the "Group") has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia.
action@proactiveinvestors.com

In December Betts told Proactive Investors that a global resource of around 3 million ounces of the precious metal would give the Dugbe area the critical mass needed to go into mine development. "As soon as you are north of 3 million ounces you are able to start considering commitments to a pre-feasibility study and mine development in the minable radius of Dugbe F," the Hummingbird CEO said in that interview. It would be a multi-pit development around a central point there are currently three other anomalies at soil and trench sampling stage within a 5 kilometre radius. If it is able to compile an economic resource around Dugbe, then Hummingbird may consider splitting the Liberia operation into two discrete teams one tasked with developing the asset, with the other responsible for continuing the
www.proactiveinvestors.co.uk www.proactiveinvestors.com www.proactiveinvestors.com.au www.proactiveinvestors.de www.proactiveinvestors.com.hk

United Kingdom
Proactive Investors Ltd

North America
44A Shelbourne Road

Australia
Bournemouth, BH8 8QY

Germany
United Kingdom Company No. 05639690

China
VAT No. 87207082

exploration effort. It is worth remembering there is more to Hummingbird than just this one target. In fact there is the potential here to open up a whole new gold district. For the uninitiated, the Birimian is elephant country. It is host to multi-million ounce mines such as Morila, Chirano and Ahafo. That the Liberian portion has remained untapped owes more to the years of civil war that preceded this recent period of political stability than it does to the unpromising geology of the area. So far Hummingbird has drilled only a small portion of a geological anomaly called the Dugbe shear zone, which extends for around 70 kilometres from the coast of Liberia in a north-easterly direction.

Proactive Investors facilitate the largest global investor network across 4 continents in 4 languages. With a team of analysts journalists & professional investors Proactive produce independent coverage on 1000's of companies across every sector for private investors, private client brokers, fund managers and international investor communities. Contact us +44 (0)1202 770386 action@proactiveinvestors.com

No investment advice
Proactive Investors is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

www.proactiveinvestors.co.uk

www.proactiveinvestors.com

www.proactiveinvestors.com.au

www.proactiveinvestors.de

www.proactiveinvestors.com.hk

United Kingdom
Proactive Investors Ltd

North America
44A Shelbourne Road

Australia
Bournemouth, BH8 8QY

Germany
United Kingdom Company No. 05639690

China
VAT No. 87207082