AAIC Bullion Refineries Group (ABRG) Extends Offtake Agreement with CV Putra Gading Emas in Indonesia

Online, November 22, 2011 (Newswire.com) - AAIC Bullion Refineries Group Limited (ABRG, Frankfurt Xetra: 1AB) through its associate, PT ABRG Indonesia, announced today that the company has signed a supplemental agreement with CV Putra Gading Emas to acquire mixed metals from AU rich concentrates under a full Precious Metals Offtake Agreement, signed in October 2011,

The supplemental agreement, which has the same duration as the recent Offtake Agreement signed earlier this year, will provide ABRG with the option to purchase other minerals and commodities apart from gold from CV Putra Gading Emas mining operations in Sumbawa, Indonesia. CV Putra Gading Emas has agreed earlier to supply a minimum of 1.875 tons of gold rich concentrate each month to ABRG's Malaysia based refinery.

Commenting on recent exercise, ABRG Group Managing Director, Patrick Harvey, said: "The precious metal market including gold has proven its strong profitability and is moving steadily on a positive note. But ABRG has the opportunity to supply all metals extracted from the AU rich concentrates acquired from CV Putra Gading Emas and so this agreement signed make good sense for both parties. We are therefore very confident that this latest contract signing through our Indonesian unit will further boost our profitability."

CV Putra Gading Emas runs a medium-size mining operation in Mataram, West Nusa Tenggara, Indonesia, part of the Lesser Sunda Islands off the southern Indonesia island of Java.
ENDS

Notes for editors
AAIC Bullion Refineries Group Limited (ABRG) is a precious metals refiner, trader and financier listed in The Frankfurt Stock Exchange (XETRA) as 1AB. It currently operates through a network established in more than 115 countries. Founded in 2010, the Group currently has offices in Guernsey Island, Kuala Lumpur in Malaysia and Jakarta, Indonesia.

Safe Harbour Statement: The statements contained herein which are not historical are forward- looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time.