Besra Gold : re-opens Vietnam gold mine

Auckland, New Zealand: 17 August 2016 - Besra Gold Inc has today re-opened its Phuoc Son gold mine in central Vietnam after suspending operations just over two years ago.

Besra CEO John Seton said, 'First and foremost I need to thank our staff for their huge effort in protecting this asset in incredibly difficult circumstances. Were it not for their good will and incredibly hard work, we would not be able to make this announcement today. Senior staff worked tirelessly and for the most part, without payment.

'I also acknowledge the tremendous support of the diplomatic and trade personnel at the New Zealand and Australian embassies in Hanoi who have worked hard behind the scenes to bring a common sense approach to resolving the issues faced by the Company over the last two years.

Operations at the Phuoc Son mine were suspended in July 2014 as a direct result of coercive measures applied by the Quang Nam Tax Department which were in our view illegal, and fly in the face of every stated objective of the Government of Vietnam towards foreign investment.

The Company has only been able to return to operations with the support of its local bankers, VietABank, which has provided a bank guarantee to the local tax department, and local partner, Vaco Gold Co Ltd which provided essential capital for the restart of operations and payment of local creditors.