Noble Mineral gold reserves grow

Noble Mineral Resources has seen its gold reserves grow at its Bibiani Gold Project in Ghana from a new study undertaken by Coffey Mining. The new ore reserves measure 912,000 ounces of gold. Noble's global gold reserves now stand at 16.0Mt at 1.9g/t gold (972,000 ounces). Total Resources at Bibiani are 51.4Mt at 1.7g/t gold for 2.8 million ounces. The study, which was completed this week, focused on four pit areas within the Project and included a comprehensive review of Noble's resources and updated geological models, pit designs and mine schedules. The upgrade in reserves follows a previously announced 24% increase in total gold resources at Bibiani, after earlier resource modelling work completed by Coffey Mining. Noble's main focus is on reaching target production levels of 150,000 ounces per annum. Noble Mineral Resources Limited listed on the Australian Stock Exchange on 26th June 2008 with a focus on exploring for large-scale gold deposits in the world-class Ashanti Gold Belt in Ghana’. In November 2009, the Company entered into an agreement for the acquisition of the Bibiani Gold Mine, a project located in the Sefwi-Bibiani Gold Belt in Ghana and host to over 30 million ounces of gold. On July 20th, 2010, the final Share Transfer Form was executed to consummate the purchase. Noble's other primary gold concessions are Exploration Licences at Cape Three Points, Brotet and Tumentu, which cover some 141.3km² and all are located within the world-class Ashanti Gold Belt in the south-western part of the country. Noble's on-going focus will be to expand the drilling programme at Bibiani to target new shallow resources near the Bibiani mine and adjacent tenements while still prospecting the Cape Three Points, Brotet and Tumentu concessions within the Southern extension of the Ashanti Gold Belt. Initial exploration at Cape Three Points will be targetted toward the Satin Mine Project and the Morrison Project, both of which lie in an area of historic underground gold exploration. Noble believes that there is significant potential for the delineation of additional high-grade gold mineralisation relating to the down-plunge and strike extension to these zones. When added to the potential now available at Bibiani, it will place Noble in a strong position to achieve its goal of building Australia's next major gold mining house. The Company recognises the Bibiani, Cape Three Points, Brotet and Tumentu concessions are relatively under-explored, highly prospective projects and aims to rapidly redefine compliant resources for development.