REG - Bluebird Merchant - South Korean Visit Strategy Update

Bluebird Mining VenturesAnnouncement

23/05/2022 09:45

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RNS Number : 4009M  Bluebird Merchant Ventures Limited  23 May 2022

Bluebird Merchant Ventures Ltd

("Company" or "Bluebird")

South Korean Visit Strategy Update

Bluebird Merchant Ventures (EPIC: BMV), the South Korean focused gold
development group is pleased to announce a further update to the market
following the holding of strategy meetings last week as announced previously
on 17 May 2022. The meetings were held to discuss the outcomes of CEO, Colin
Patterson's recent visit to South Korea and the key next steps towards the
Company's 'proof of concept' gold production.

The Company is in the process of formally engaging leading advisors in South
Korea to expedite the application process of a "Mountain Use" permit at our
Kochang mine in order to allow for the necessary surface work required to
facilitate underground mining.  This process will involve engagement with the
local government and community.

Parallel to the Mountain Use permit application, the Company is now also
working on refining a schedule of works that can be undertaken such as
equipment selection and call for quotes to run concurrent with this
application as we accelerate on all fronts following the easing of the Covid
restrictions in Korea that has delayed progress over the past two years. The
Company will update the market in due course with further detail.

Management also announced on 17 May 2022 that it is in the process of
significantly improving its Korean presence by appointing a more senior,
professional and suitably qualified Director of the Korean subsidiaries to
replace the previous Director.  We are pleased to report that this process is
now well advanced and is expected to be completed next month. The Company has
also progressed dialogue with a previous key employee to return to the Company
for crucial functions such as community and government liaison.

Colin Patterson, CEO, commented:

"The major next steps for the Company include the all-important granting of
the Mountain Use permit at Kochang and for the appropriate staffing positions
to be filled, all of which are in motion. We are all excited to start
accelerating the works program, initially at Kochang during the coming months
with all parties being reinvigorated with this new momentum. I am very pleased
with the present progress and look forward to continuing to appraise the
market of developments in the ensuing weeks."

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").

Enquiries:

Bluebird Merchant Ventures Ltd

Jonathan Morley-Kirk, Non-Executive
Chairman
jmk@bluebirdmv.com

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