2013 Mineral Resources and Ore Reserves update

MMG Limited (MMG) (HKEx: 1208) today released its updated Mineral Resources and Ore Reserves Statement as at 30 June 2013.

Highlights include:

• Mineral Resources were estimated to contain 15 million tonnes of zinc, 3.9 million tonnes of copper, 2.4 million tonnes of lead, 280 million ounces of silver, 5.5 million ounces of gold and 0.3 million tonnes of nickel (contained metal).

• Ore Reserves were estimated to contain 5.3 million tonnes of zinc, 1.5 million tonnes of copper, 0.9 million tonnes of lead, 78 million ounces silver and 0.5 million ounces gold (contained metal).

• Total Ore Reserves for June 2013 represent an increase in contained metal of copper (6%) and gold (14%) and a decrease in contained metal of zinc (-20%), lead (-22%) and silver (-16%) compared with the June 2012 estimate.  Adjustments to Ore Reserves are mostly due to updated estimation processes, increases in cut-off grade, removal of identified uneconomic material and increases in dilution due to geotechnical issues.

• Reductions in both Mineral Resources and Ore Reserves in excess of mineral processing depletion have largely come from increased governance in the Mineral Resources and Ore Reserves estimation process.

The Mineral Resources and Ore Reserves Statement was prepared in accordance with the guidelines in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.  Mineral Resources are inclusive of Mineral Resources used to estimate Ore Reserves.