Kochang Mine Update

Bluebird Mining Ventures Ltd, a gold project development company, is pleased to announce that, following its internal technical evaluation of the Kochang Gold and Silver Mine ('Kochang') in South Korea, plans to refurbish the existing main mine adit are underway. Local contractors have visited the area and planning work is being undertaken. The work on refurbishment will satisfy the qualifying spend required for the extension of the Kochang licence in accordance with the mining regulatory authorities in South Korea.

Having consulted the Mine Safety Office, the Company believe that they may be able to access the mine for refurbishment before the grant of the Mountain Temporary Use Permit. This remains under review by the Board of Audit and Inspection, but the Company remain confident in a positive outcome.

Bluebird Executive Director and Interim CEO Aidan Bishop said, "The refurbishment of the adit is beneficial in a number of ways. Safe access to the mine will allow us to carry out additional studies and importantly the attributed investment satisfies the spend commitment needed to extend the licence for a further three years. Kochang has a relatively quick path to production through the utilisation of contract mining and toll treatment. The more we can do now, the faster to cashflow. On a wider level, we continue to establish development paths for our other two gold projects and hope to make further announcements in due course re progress."