August 3, 2010
Stans Energy Corp (TSX-V: RUU) (Stans, or the Company) announces that, in a recent meeting of the Kyrgyz Republic Ministry of Natural Resources (MNR), mining licences for Kutessay II, and Kalesay deposits, previously purchased by Stans via auction from the public company, “Kutisay Mining” (see December 29, 2009 press release), were reviewed, and reissued to Stans’ 100% owned Kyrgyz subsidiary.
The details of these licences are as follows:
Stans Energy Corp. owns a 20-year mining licence for both Kutessay II and Kalesay. Within these licenses, the Kyrgyz Republic MNR is to review each project’s progress at defined interim stages regulated by the each respective licencing agreement. In its recent resolution, the MNR extended “Licencing Agreement #1”, the title of the first review period for Kutessay II and Kalesay, from December 2010, to December 2011; a period chosen by the council to allow Stans the necessary time to complete a feasibility study for Kutessay II, and develop a better understanding of the region’s mining potential.
Additionally, the Company’s 100% owned Kyrgyz subsidiary has received an extension of the Aktyuz Ore Field’s (AOF) exploration licence, also titled, “Licencing Agreement #1” to August 31, 2010, to reflect the delays in governmental approvals of the AOF exploration program, caused by recent political events. “Licensing Agreement #2” for AOF is intended to be signed at the end of August for a further interim period to be determined.
This resolution was one of the first decisions made by the recently appointed Minister of Natural Resources, since the inception of the new Kyrgyzstan government, in April, 2010. Robert Mackay, Stans Energy’s President and CEO said, “It is very encouraging to know that Kyrgyzstan’s new government has set in motion the necessary process to support foreign businesses operating in the country. We look forward to working with the Kyrgyz Ministry of Natural Resources in the future.”
Stans is also pleased to announce that within two weeks, the company will start to drill its recently identified zone, Kutessay III (see July 12, 2010 press release), which is located roughly 500m southwest of its past-producing rare earth mine, Kutessay II.
Please visit Stans Energy Corp.’s new website for more information, or contact:
President and CEO, Stans Energy Corp.
Ph. 647 426 1865
Manager Investor Relations, Stans Energy Corp
Ph. 647 426 1865