Hope & Gorob Optimisation & Geotechnical Drilling

Following the recent granting of a Mining Licence M246, subject to statutory approval (the "Mining Licence"), and the renewal of adjoining exploration licences Bezant Resources ("Bezant" or the "Company") is pleased to announce it has commenced a drill programme on the Hope & Gorob deposit located in Namibia in which Bezant holds a 70% interest.

Highlights

• Large diameter diamond core drilling is aimed at providing fresh mineralisation samples for ore sorting optimisation and modulation work and the collection of drill core for geotechnical assessment.
• Final external review of operating facilities has been completed by specialist consultants and subsequent reports are expected to confirm capital cost estimates and proposed metallurgical flow sheets.
• External metallurgical engineers have also been requested to provide plant configuration, operation options that would allow for an increase in plant throughout capacity.
• The Company will be placing adverts nationally to ensure all Namibians are able to apply for a wide range of employment opportunities.

Colin Bird, Executive Chairman of Bezant, commented "Following the issuing of the Mining Licence and ahead of completion of other statutory requirements, we are advancing all the underlying matters required to bring a mine into production and we are taking the opportunity to closely define the start point for the initial pit entry onto the Hope deposit. The objective is to maximise early cash flow as much as possible by predicting ground conditions and associated factors that might impact on mining and the optimisation and modulation of the various ore sorting technologies that will be applied.

The tasks are numerous and intensive, and the team should be complemented on the pre-licence work completed. This excellent progress to date has condensed and focused our programmes and more importantly defined critical paths. We also look forward to continuing exploration on our southern Matchless exploration licences that total more than 70km strike length, 17km of which occur within the Hope and Gorob Licence".