MKD Marakand

RNS Number:7433S
Marakand Minerals Limited
12 March 2007



                                                                     For Release
                                                                   12 March 2007
                                MARAKAND UPDATE

Marakand Minerals Limited ('Marakand', or the 'Company') (MKD.L), the Eurasian
base metal and silver company, has been advised by its parent company and 86%
shareholder, Oxus Gold plc ("Oxus") (OXS.L), that Oxus has agreed in principle
and subject to final contract, to sell certain assets to KazakhGold Group
Limited ("KazakhGold") (KZG.L), including certain exploration assets in Turkey,
currently owned by Marakand.

The Board of Directors of Marakand confirm that any agreement between Oxus and
KazakhGold in respect of the sale of such Marakand assets will require Marakand
board approval and, in addition, any such sale will be subject to the
determination of an appropriate fair market value to be paid to Marakand by Oxus
for these assets. Marakand shareholders will be kept informed of any
developments.

As announced in on 1 August 2006, Marakand entered into exclusive option
agreements to acquire majority interests in two separate copper / gold
exploration license areas in southern Turkey, namely the Hatay exploration
license and the Karakilise exploration license. Both license areas are located
in the prospective southern Turkish 'ophiolite belt' related to the Cyprus Arc,
and host 'Cyprus-type' copper / gold mineralisation. Exploration works,
including surface drilling, have previously been undertaken on both license
areas.

In February 2007, Marakand completed a further programme of stream sediment
sampling, geological mapping, surface channel sampling and a 10 hole surface
drilling programme on the Hatay license. Marakand has dispatched channel and
drill core samples to an independent laboratory for analysis, and will be
reporting results as soon as they are available and evaluated

Contacts:
Marakand Minerals Limited
William Charter, Director                      Tel: + 998 93 180 8368
Julia Flowers, Investor Relations Officer      Tel: +44 (0)20 7907 2000

Canaccord Adams Limited
Robin Birchall                                 Tel: +44 (0) 20 7050 6500





                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
DISOKBKNOBKKDND

Marakand Minerals (LSE:MKD)
Historical Stock Chart
From May 2024 to Jun 2024

Marakand Minerals (LSE:MKD)
Historical Stock Chart
From Jun 2023 to Jun 2024