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Stonehenge Metals: Drilling Approval for Daejon Received

Contributed by Fox-Davies Capital

Following the land access agreements secured in July 2012, Stonehenge has received approval from the East District of Daejon Metropolitan City Council, Korea to create access roads for the purpose of commencing an initial 12 hole diamond drill programme at the Company's Daejon Project.

Although Stonehenge received land access agreements back in July, they still needed approval from the Guemsan County and Daejon City Councils. This has been a long time coming, so much so that Richard Henning, in his Chairman's address at the November AGM said that the Company would expand its horizons and seek other opportunities in other commodities in Korea and elsewhere.

However, having received approval from the East District of Daejon Metropolitan City Council, Stonehenge can commence its initial drilling programme at Chuba where the majority of historical drilling was conducted. The aim of the programme is to upgrade the current Inferred resource, produce a maiden vanadium resource and identify potential high grade zones.

Stonehenge is now finalising the details of the 12 diamond hole programme which we expect to start towards the end of 1 Q'13 or early 2Q'13.