New Dawn Mining to Focus on Zimbabwe Turk Mine Expansion, Exploration and Consolidation Strategy

New Dawn Mining Corp. reports that in light of substantial opportunities now present in Zimbabwe, New Dawn intends to focus exclusively on expanding output at its Turk and Angelus Mine in Zimbabwe, furthering exploration on its options claims in Zimbabwe, and pursuing acquisition opportunities in Zimbabwe that are value accretive.

In pursuing its Zimbabwe focused growth strategy, management has determined that its Blue Dot Mine Development Project in South Africa is no longer a part of the Company’s corporate focus. As such, New Dawn has shut down the Blue Dot Mine Development project, and has decided to place Blue Dot into provisional liquidation, a legal process under South African law that provides for an orderly sale, liquidation or winding up of the business. Provisional liquidation will allow New Dawn to most effectively manage the disposal of this asset.

The Blue Dot Project has not generated any revenue from gold sales to New Dawn. As such, New Dawn confirms that gold sales and production figures as generated from its Turk Mine in Zimbabwe will not be affected in any way as a result of the Blue Dot closure.

“We have a producing mine in Zimbabwe in which output has increased for five consecutive months and we are well on our way to increasing output and continuing to examine other value accretive opportunities in a country where our expertise lies and significant opportunity is present in an ever improving political and economic environment,” commented Ian Saunders, President and CEO. “The operating environment in South Africa deteriorated to the point where it was no longer sensible for us to continue to pursue developing an asset that ultimately did not have the size and scope to provide our shareholders with the economic reward relative to the related operating country risk.”