ARK MINES LIMITED — Capital/Financing Update 2015

Aug 31, 2015

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**Definition

Drilling
Starts
at
Frances
Creek**

Sydney,
1
September
2015 :
The
Board
of
Ark
Mines
Ltd
( ASX:
AHK )
is
pleased
to
announce that
it
has
commenced
a
further
definition
drilling
program
at
the
Golden
Slips
and
Golden Honcho
high
grade
gold
prospects
at
AHK’s
Frances
Creek
Project
in
the
Northern
Territory.

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Figure
1
AHK
geologists
reviewing
chip
samples
from
a
vein
intercept
at
Golden
Slips

**Drilling

Details**

• § 23
  RC
  holes
  planned
  up
  to
  60m
  deep
  (refer
  to
  fig
  3
  and
  fig
  4) § Generally
  angled
  at
  60
  degrees

• § Targeting
  the
  Honcho
  and
  the
  Slips
  gold
  veins
  (refer
  to
  fig
  3
  and
  4) § Aiming
  to
  extend
  the
  strike
  by
  some
  300m

**Frances

Creek
Project**

• § Close
  to
  AHKs
  Mt
  Porter
  34,000oz
  Au
  Resource
  and
  Pine
  Creek § 17km
  from
  a
  gold
  plant
  with
  capacity
  to
  process
  oxide
  gold

• § Golden
  Slips
  only
  1km
  distance
  from
  Golden
  Honcho
  with
  4
  other
  gold
  reefs
  within 2km

• § Sub
  vertical
  quartz
  veins
  outcropping
  on
  top
  of
  steep
  ridge
  crests,
  which
  are amenable
  to
  simple
  low
  cost
  open
  pit
  mining

• § There
  are
  multiple
  vein
  systems

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§ The
remaining
four
known
gold
prospects,
within
the
tenements,
not
yet
drilled, occur
along
a
NNW
trend
from
Golden
Slips
over
a
distance
of
about
2
kilometres. Three
of
these,
Golden
Gulf,
Golden
Austerian
and
Golden
Amigo,
occur
along
the same
ridgeline
and
include
zones
of
auriferous
quartz-­‐stock-­‐work
veining
(Golden Amigo),
ferruginous
rubble
breccia
(Golden
Austerian)
and
auriferous
tourmaline breccia
(Golden
Gulf)

• § AHK
  plans
  to
  drill
  the
  remaining
  four
  gold
  prospects
  early
  next
  dry
  season

AHK
Managing
Director,
Roger
Jackson
said
“ the
drilling
is
progressing
well,
with
a
number of
very
good
vein
intercepts,
and
a
number
of
multiple
vein
sets
being
drilled
through.
We look
forward
to
reviewing
the
assay
results ”.

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Figure
2
Typical
drill
pad
on
top
of
ridgeline
at
Golden
Slips

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Figure
3
Golden
Honcho
drilling
locations

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Figure
4
Golden
Slips
drilling
locations

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**About

Ark
Mines**

AHK
is
a
Sydney
based
company
now
readying
itself
for
near
term
gold
production,
from assets
in
the
Northern
Territory.
The
company’s
aim
is
to
establish
itself
as
a
medium
level gold
producer
producing
gold
from
tenements
in
the
Northern
Territory,
developing prospective
tenements
in
the
Northern
Territory
and
New
South
Wales
and
to
acquire
other prospective
gold
projects
in
Australia.

**FURTHER

INFORMATION:
Roger
Jackson,
Managing
Director,
Ark
Mines
Ltd:
+61400
408
550**

The
information
in
this
announcement
that
relates
to
Exploration
Results,
Mineral
Resources
or
Ore
Reserves
has
been compiled
by
Roger
Jackson
BSc,
Grad
Dip
Fin
Man,
Dip
Ed,
AICD,
who
is
a
Member
of
The
Australasian
Institute
of
Mining and
Metallurgy
and
who
has
more
than
five
years’
experience
in
the
field
of
activity
being
reported
on.
Mr
Jackson
is
a director
of
the
Company.
Mr
Jackson
has
sufficient
experience,
which
is
relevant
to
the
style
of
mineralisation
and
type
of deposit
under
consideration
and
to
the
activity,
which
he
is
undertaking
to
qualify
as
a
Competent
Person
as
defined
in
the 2012
Edition
of
‘Australasian
Code
for
Reporting
of
Exploration
Results,
Mineral
Resources
and
Ore
Reserves’.
Mr
Jackson consents
to
the
inclusion
in
the
announcement
of
the
matters
based
on
his
information
in
the
form
and
context
in
which
it appears.

Note:

Runge
Limited
who
purchased
the
assets
of
Resource
Evaluations
Pty
Ltd
have
reviewed
the
documentation
relating
to
the Mount
Porter
resource
and
have
confirmed
that
this
resource
estimation
conforms
to
the
reporting
guidelines
of
the
JORC Code
(2004).

Note

In
early
2004
,an
updated
resource
estimate
was
completed
for
Arafura
by
Reseval
Pty
Ltd.
Published
Identified
Resources for
the
Mt.
Porter
10400
Zone
deposit,
calculated
in
compliance
with
the
requirements
of
the
JORC
Code,
now
stand
at:

	Cut-off 1.7g/t
Indicated Resources	300,000 t@3.1g/t Au
Inferred Resources	55,000 t@2.6g/t Au
TOTAL RESOURCES	355,000 t@ 3.0g/t Au
	34,000ozs