CHAARAT GOLD LIMITED

Company Facts

Mineral Securities ownership interest:  12.18%

Project Facts

• Gold exploration project at resource definition stage
• Country of operation - Kyrgyzstan

More Information

Scarborough has acquired a 12.18% stake in Chaarat Gold through the acquisition of some existing shares and a subscription for new shares.  Chaarat Gold is a Guernsey company whose principal asset is the 100% owned Chaarat gold project.  The Chaarat Gold project is located at moderation elevations in western Kyrgyzstan  on a licence granted by the Kyrgyz State Geological Agency in 2002 (renewed in November 2006) covering an area of more than 600 square kilometres.

Exploration to date has identified a substantial mineralised system with elevated gold values over a 10 kilometre strike length.  The licence area remains lightly explored and Chaarat Gold expects to identify significant resources as exploration continues.

Planned work for 2007 includes further drilling, development of an exploration audit and various infrastructure works, including road construction.

For more information on Chaarat Gold please phone +61 (0) 8 9221 7466.