Cleveland Mining Company (CDG)

Shares / Stock Code

CDG

Stock Exchange / Sharemarket

ax

Cleveland Mining Company (CDG) is an Australian-managed minerals company focused on developing projects into mines. CDG's tenement portfolio includes 5 gold-prospective targets in the central Brazilian state of Goias, 2 gold/copper-prospective projects in Region IV of Chile, and 1 iron ore project in the Brazilian state of Amapa. Cleveland Mining Company was listed on the Australian Securities Exchange (ASX) on 30 July 2007.

The Company's tenement portfolio includes 5 gold-prospective targets in the central Brazilian state of Goiás, 1 iron ore project in the Brazilian state of Amapa and 2 gold/copper-prospective projects in Region IV of Chile. The Company aims to begin production at its foundation Premier Gold Project within 2011.

Cleveland has a different approach to project selection with project economics driving target selection. Projects are chosen according to their likelihood of generating returns at the bottom of the economic cycle.

The grade, depth and size potential of mineralisation; local costs and infrastructure; sovereign risk and level of local support are rigorously scrutinised before entering into a project. Cleveland only operates in areas backed by both mining and corporate laws that provide stable and transparent operating environments.

Cleveland has 8 projects located in 3 strategic hubs in Brazil and Chile.  The Company's Premier Gold Project is currently progressing towards mining and good results have been returned from investigation of several other projects.

The "Crixás Hub" in Brazil is centred on gold exploration and production; the “Central West Hub” in Chile has a Gold/Copper focus; and the “Amapá Hub” in northern Brazil is home to the Company’s nascent, discretely-managed Iron Ore Division.

All projects are subject to excellent mining legislation, pro-mining governments, access to existing infrastructure, access to skilled labour, safe operating environments and are located in areas with track-records for successful mining.

Crixás Hub, central Brazil
Cleveland has 5 gold-focused projects in the Crixás Hub, located in Goiás state in central Brazil.  The projects - named Premier, O Capitão, Baú, Guarinhos and Pantera - are located in a recognised gold region and abut tenements held by AngloGold Ashanti, Kinross, Yamana and Vale, amongst others. Total tenure stands in excess of 240km².

Access to infrastructure, mine services, contractors and labour in the project area is very good, with the 'mining town' of Crixás in walking distance from the Premier tenements. The national capital, Brasilia, and the state capital, Goiania, are 260km and 270km away respectively.

The most advanced project, Premier, currently holds an inferred resource of circa 89,000oz with significant scope for expansion. A mining and engineering study is complete and Board aprroval has been granted for mining. The full results of the study will be released after optimisation work has concluded.

Central West Hub, central Chile
Cleveland has 1 project, “El Chapo”, in the Central West Hub in Region IV in Chile.  The Company is currently assessing several gold/copper projects in the immediate region to expand the Central West Hub and create economies of scale.

The Central West Hub is linked to ports and smelters by rail and road infrastructure, is subject to excellent mining legislation, is serviced by world-class mining contractors and has a track-record for successful mining projects.

Both the Crixás Hub and Central West Hub are currently managed by the same team.

Amapá Hub, northern Brazil
The recently acquired Porto Grande project is the cornerstone of the Amapá Hub.  The Company will expand its presence in this region with other ferrous metals projects that conform to Cleveland’s acquisition requirements.

Amapá is coastal, pro-mining, subject to sound legislation and taxation, and is politically stable, whilst having good infrastructure and access to low cost, yet skilled labour – all in association with
high-grade iron ore.

The first mining companies working in Amapá appear to be progressing well.  Anglo American produced approximately four million tonnes of iron ore within the region last year and has brokered an iron ore off-take agreement with ASX-listed Beadell Resources, who have  delineated a multi-million ounce gold resource.  Vale and Cliffs are also working in close proximity to Cleveland.

A discretely-managed Iron Ore Division will be formed to manage the Amapá Hub to avoid compromising on the Crixás Hub and Central West Hub projects.  The Company’s Board will oversee all three hubs.

Previous Company Name: Western Kingfish Limited