Allied Minerals discovered additional gold veins at its Shandong property in China in early 2013, increasing production. Preliminary tests and samples taken when the property was acquired in 2012 showed gold was present. The new veins may marginally increase costs but production costs remain low. The company CEO said Shandong has a history of gold mining and their finds are a positive step for shareholders. While ore extraction has increased significantly, the company can only estimate current mineralization and lifespan of the mine which they expect to determine over time. Preliminary estimates suggest 1.8 million ounces of gold with an ore grade of 1.975 g/t.

1. Allied Minerals Picks Up The Pace At Shandong Property
Mar. 14, 2013 - PUDONG, China -- China based, Allied Minerals acquired the Shandong
property back in 2012 following its identification and risk assessment approval by Executive
Director Mr Henry Huan BSc, MSc. Preliminary tests and Initial ore samples immediately
indicated the presence of gold veins, and production was underway late last 2012. However,
during the first quarter of 2013 Allied Minerals extended the Shandong exploration area resulting
in the discovery of underground intersecting veins. While these veins may marginally increase
the cash cost of each ounce of ore extracted, the ore is accessible, and production costs are still
comparatively low.
Mr Henry Huan said “I have been with Allied Minerals since 2001, but I think now one of the
most exciting times in our company's history, as we are seeing strong throughput at Shandong
and we are in a position to expand and grow as a company”.
Allied Minerals CEO Mr Kevin Dao commented “Shandong province has a long history of gold
mining exploration and it is one of the more mineral rich regions in China, so it is perhaps
unsurprising that Allied Minerals exploration has revealed this high level of mineralisation. We
are excited to have increased our output via this license and see it as a step in the right direction.
What is important here is the increase in our ore extraction, and the value this will create for our
shareholders”.
Although the amount of ore being extracted at Shandong has increased significantly, at this early
stage Allied Minerals are able only to estimate the extent of the mineralisation at Shandong, and
so cannot accurately determine the lifespan of the mine. According to CEO Kevin Dao, this is
something that will be determined in due course. Current estimations would suggest reserves of
approximately 1.8 million ounces of mineral gold, with an ore grade of 1.975 g/t. Mr Dao insists
however, that these figures are preliminary only.
Sections of this announcement may contain forward-looking statements which reflect
management's best judgment based on factors currently known but involve significant risks and
uncertainties. Actual results could differ materially from those anticipated in these forward-
looking statements.