Environmental Assessment Underway at the Taseevskoye Gold Deposit

09.11.2006

Taseevskoye Ltd., the JV between the Russian-British Highland Gold Mining and Canada's Barrick Gold, has begun a planned Environmental and Social Impact Analysis at its Taseevskoye gold ore development site in the Baley district of the Chita region in Eastern Siberia of Russia. The results of the analysis will be used in the Feasibility Study for the deposit development.

Experienced experts from the Canadian company Golder Associates, who have completed analyses of this type for Barrick Gold worldwide, have been commissioned to carry out the work. Taseevskoye will also develop a program of resettlement for people whose houses may fall in the sanitary-hygienic zone of the open pit.

A more detailed project report will be conducted by the Chita Institute of Natural Resources, as well as a number of other scientific organizations in the region. A series of awareness-raising meetings between the company and representatives of the local authorities and the population will take place in early December. This is part of a wider Public Information program set out by the Taseevskoye JV. 

Notes to Editors The Taseevskoye JV was established in 2005 to work on geological surveys and further development of the gold ore deposit Taseevskoye. The project is currently at the stage of planning and exploration. Taseevskoye Ltd. is potentially the largest employer in Baley, and company appreciates the significance of its role in the social and economic development of the territory at large. It had started the organization and financing of social programs in Baley even prior to the beginning of production at the deposit.