MSR 0.00% 0.6¢ manas resources limited

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    GOLD EXPLORER CLAIMS A BONANZA RESULT IN KYRGYZ REPUBLIC


    *****************************************************

    OVERVIEW
    ********

    MANAS RESOURCES (ASX:MSR) reports a 'bonanza' gold result at
    Shambesai, in the Kyrgyz Republic of Central Asia.
    The company has described the second round of results from
    the 2011 drilling campaign at its Shambesai gold project in the Kyrgyz
    Republic features a "bonanza" result of 33.7m at 10.74g/t gold including
    7.8m at 28.64g/t gold, returned from the Shambesai shear zone outside the
    current resource boundary.
    Additional results include 17.45m at 2.55g/t gold, 5.1m at
    4.49g/t gold and 13.9m at 1.79g/t gold.
    Other significant results include 13.9m at 1.78g/t gold from 104m
    in SHDDH219, 17.45m at 2.55g/t gold from 14.75m in SHDDH227 and 5.1m at
    4.49g/t gold from 59m in SHDDH223.
    The results show that the mineralisation continues at depth and
    demonstrate continuity of the mineralisation on the contact between the
    limestone and siltstone.
    The wide high-grade intersection from hole SHDDH224 was returned
    from sulphides in the structural zone separating the Shambesai main and
    west zones.
    The discovery of high-grade mineralisation along this structural
    zone has the potential to significantly improve the already robust
    project economics by substantially increasing the underground potential
    of the project which Manas has recently begun to evaluate.
    The majority of this latest round of Shambesai results were
    returned from sulphide mineralisation outside of the current
    645,000-ounce Mineral Resource, with the best intercept from hole
    SHDDH224 demonstrating continuity of mineralisation, at a higher tenor
    between the upper main zone and the west zone at depth.
    More than 9,700m of the expanded 12,300m drill program has been
    completed at Shambesai, with 20,000m to be completed in total across all
    exploration sites, and only 5,000m of drilling has been reported.
    Drilling is now in progress to test the extent of high-grade
    mineralisation along the Shambesai structural zone and to the west of the
    structural zone.
    The aim of the current drilling program is to increase gold
    resources and provide additional mineable oxide for the Shambesai gold
    project.
    Drilling is currently occurring at two areas - Shambesai and
    Pum - with 11,000m completed on all areas.
    An expanded program of more than 12,000m of resource and
    development drilling has been taking place at Shambesai with the aim of;
    1. Rapidly upgrading all resources in the current pit
    optimisation;
    2. Testing areas for further shallow oxide at the edge of the
    existing resource;
    3. Testing the fault zone between the deep and main Shambesai
    zones; and
    4. Defining the zone at the western boundary of the current pit
    with the goal of substantially increasing the resource and pit extent.
    On May 24, Manas Resources released its first round of high-grade
    oxide results from the Shambesai discovery hole drilled at Pum, three
    kilometres from Shambesai.
    Highlights include:
    * High-grade oxide results include 25m at 3.43g/t gold including
    12.3m at 5.44g/t gold;
    * Broad oxide intercepts include 17.1m at 2.92g/t Au including
    6.45m at 4.48g/t Au;
    * Significant intersections have been made from outside the
    current Shambesai Mineral Resource indicating substantial extensions to
    the southern and western oxide resource; and
    * First drill hole at Pum prospect returned shallow oxide
    intercept of 8.9m at 2.89g/t gold from 15m and remains open.

    SHARE PRICE MOVEMENTS
    *********************

    Shares of Manas Resources yesterday edged up 1c to 22.5c. Rolling
    high for the year is 35.5c and low 14.5c. The company has 177.4 million
    shares on issue with a market cap of $39.9 million.
    The aim of the current drilling program is to increase gold
    Resources and provide additional mineable oxide material for the
    Shambesai gold project.
    Drilling is currently occurring at Shambesai and Pum, with 5,000m
    having been completed.
    Significant progress has been made towards completing the initial
    project permitting phase of the Shambesai gold project.
    A Technical and economic evaluation - equivalent to a Western
    pre-feasibility study - will be submitted to the Kyrgyz Ministry of
    Natural Resources for review and approval to allow work to commence on
    the detailed design for the project.
    The scoping study reported last November anticipated the
    Shambesai gold project to produce its first 100,000 ounces at an average
    head grade of 5.7g/t gold in the first three years at a cash cost of
    $US180 per ounce, placing Shambesai into the lowest quartile of cash
    costs for gold producers worldwide.

    BACKGROUND
    **********

    Manas Resources is an Australian-based explorer in the Kyrgyz
    Republic with substantial resources, high-grade drill targets and a large
    highly prospective land holding in the world class Tien Shan gold belt.
    It now has a resource base of 1.13 million ounces at its
    Shambesai and Obdilla gold projects which will continue to grow through
    aggressive and continuous exploration.
    A scoping study on the high-grade component of Shambesai has
    shown the project will be one of the lowest-cost gold operations in the
    world.
    After listing on the ASX in 2008, Manas Resources is now one of
    the largest and most active gold explorers in the Kyrgyz Republic.
    ENDS rx
    !END


 
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