Location: Central Slovakia

Interest: 100%

Resource: 1.32 Million ounce gold equivalent JORC Code (2004)

Stage: Undergound Mining Permit re-issued, mining operations have recommenced

Next Step: Arc Minerals is in discussions with a number of groups for the sale of its interest in Šturec

Project Investment to date: $30 million


The Šturec gold project (“Šturec”) is a large prospective gold exploration license. The project is located in central Slovakia approximately 1.5km north east of the town of Kremnica and, as the crow flies, 17km west of central Slovakia's largest city, Banská Bystrica. The project has a JORC (2004) compliant mineral Resource of 1.36 Million ounces of gold equivalent. A Pre-Feasibility Study (“PFS”) of the mining aspects of the Šturec Project was completed by SRK Consultants (“SRK”), a leading international engineering firm in April 2013. The PFS was in turn built upon an earlier Scoping Study completed by SRK in January 2012; both studies confirmed the economic viability of the Šturec Project. The SRK PFS confirms the economic viability of the Šturec Project.

Since the publication of the PFS, the Company has been working with the local community and stakeholders to develop win-win sustainable mining solution with the aim to realise a long-term sustainable mining operation benefitting all stakeholders. However, given Arc Minerals’ new strategic direction the Board views the Šturec project as non-core and in this light Arc Minerals is currently engaged in a number of discussions with several groups with the aim to divest of the Šturec Project.