Kochang Mine Update: Board of Audit and Inspection

Kochang Mine Update

Decision from the Board of Audit and Inspection

Bluebird Mining Ventures Ltd, a gold project development company, is pleased to announce that it has been informed by its legal counsel in South Korea, that a decision regarding the grant of the Mountain Temporary Use Permit ('MTUP') for the Kochang Gold and Silver Mine ('Kochang') in South Korea from the Board of Audit and Inspection ('BAI'), is expected this month.

The Company's lawyer has reiterated that the submission for the MTUP was fully compliant and conducted to the letter of South Korean law throughout the application process. Management will shortly be returning to South Korea with a view to progress its projects and meet with legal advisors and partners.

Bluebird Executive Director and Interim CEO Aidan Bishop said, "The adjudication by the BAI will provide clarity on the Kochang MTUP and if favourable, allow us to accelerate the projects development. Although past experiences mean there can be no guarantees that a decision will be forthcoming, our lawyers are confident with regards to the timing of the decision and that legally there are no impediments to a positive outcome.

"We understand and share the frustration of shareholders and hope that we can provide positive updates in this first quarter of the year, both from South Korea and the Philippines."