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The beginning of construction of facilities for the exploitation and processing of ore in the Serbia Cukaru Peki upper zone is planned to start in 2019

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The focus of the company Rakita is the Cukaru Peki Project in the area covered by the exploration permit Brestovac-Metovnica. Currently,development of Pre-Feasibility Study of the upper zone is underway, with the aim to assess the feasibility of exploitation and processing of copper and gold from this deposit with a high content of ore. At the same time, large scale exploration activities of the lower zone with lesscontent of ore are continued.

The implementation of exploration slope for deposit in the upper zone is planned to start at the end of 2017 and the beginning of construction of facilities for the exploitation and processing of ore in the upper zone is planned to start in 2019, after positive results of the Feasibility Study and obtaining permits and all necessary approvals from the relevant authorities. The planned construction of ore processing plant from the upper zone is expected to be completed no later than 2021, while the mine would be put in operation later that year.

Exploitation and processing period is estimated at about 12 to 15 years, considering that the exact timeframe for these activities will be thoroughly described in feasibility studiesfor the upper zone.

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Current studies indicate the possibility of underground mine in the upper zone at a depth of 450-850 m, which would become operational by the end of 2021. The access to the upper zone will be allowed through the tunnel with a slope which will be primarily used as an exploration slopefor the purpose of confirming the viability of the upper zone. Slope will most likely consist of two parallel tunnels. The first tunnel will be used for access and the other for ventilation.

The project is located approximately 6 km south of the town of Bor. Bor is the regional and administrative mining center. In the vicinity of the project site there is associated mining infrastructure necessary for mining activities (roads, railways, electricity, water) as well as recently modernized copper smelter plant in Bor.

Rakita team found Cukaru Peki deposit in July 2012. For the success in discovery of deposit, members of the teamreceived international recognition in 2016 in Toronto, at the Convention of the Prospectors and Developers Association of Canada (PDAC), when they received a Thayer LindseyAward.

Environmental policy of the Rakita company complies with the laws on environmental protection in order to reduce impacts on the environment with the use of proven risk management strategies. During the project development, Rakita will involve local communities participating in the Project, while in the process of obtaining permits it will engage and work directly with national institutions that deal with environmental protection and promotion of natural and cultural heritage of Serbia.

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