Thursday, March 22nd, 2012 - Bracken International Mining
Queensland-based manganese developer Bracken International Mining (BIM) will migrate onto the open market board of the Frankfurt Stock Exchange next month (code: 1BM).

The move confirms the company’s intention to be exporting manganese ore from its West Timor assets by the 4th quarter of 2012.

BIM has six mine licenses in West Timor, Indonesia, with combined reserves of more than 300 million tonnes. The company has all mining approvals and full Government and community support.

In addition BIM has signed a 150 million stock placement with private Australian resource company, In Minerals. The deal will see BIM receive A$17 million in cash and mining equipment as well as take over In Minerals’ tungsten ore mining rights in Queensland. The project has historical indications of an inferred resource in excess of 1 billion tones with a full geological survey to take place from June 2012.

Tungsten is an extremely hard and useful alloy, and has numerous applications including in incandescent light bulb filaments, X-ray tubes, and super alloys. Tungsten's hardness and high density give it military applications in penetrating projectiles.

BIM Executive Chairman Luke Bracken said BIM’s migration to the open market was the next step towards production.
“I am very excited, we are making progress and moving upwards and onwards to become an efficient market supplier of high-grade manganese ore,” Mr Bracken said.

“I am ecstatic at completing the deal with In Minerals ahead of schedule to diversify Bracken International Mining beyond Indonesia and beyond Manganese.”

Background: BIM’s 8,208.6 hectare West Timor manganese project is conveniently located just 35km from Kupang’s main export loading port and is strategically located to take full advantage of China’s growing demand for steel, of which manganese is an essential component.

Tests have confirmed the average manganese content is between 50% and 68%.

BIM also has a licence to build a refinement smelter, which will produce silicon and ferrous manganese end use products.

The West Timor mines have been producing ore in a limited capacity since early 2010, with trial exports of manganese shipped to customers in China. BIM anticipates production of 250MT per month.
ENDS

Enquiries:
Luke Bracken
Executive Chairman
Bracken International Mining
Email:[email protected]



Media Relations
Kim Cox
Australian World Trade Network
+61 422 811 261
Email:[email protected]
Website: www.awtn.co

Forward Looking Statements:
This press release contains forward-looking statements, which express the current beliefs and expectations of the management of Bracken International Mining PLC. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, and could cause future results, performance, and achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press release. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Forward-looking statements speak only as of the date on which they are made and Bracken International Mining PLC undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future

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Bracken International Mining


Bracken International Mining will migrate onto the open market board of the Frankfurt Stock Exchange next month (code: 1BM);
• Plan to export manganese ore from West Timor by Q4 2012;
• BIM has signed A$17 million cash and equipment investment with In Minerals Australia for 150 million stock placement deal.
• As part of the buy in with In Minerals BIM also receives the mining rights to their Tungsten ore resource in Northern Australia

Kim Cox
P: +61422811261
W: www.brackenmining.com.au

Keywords

Mining, Resources, IPO, finance

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