Canada’s Arian Resources obtains gold exploration permit

TIRANA, July 15 – Canadian-based Arian Resources has announced that its wholly-owned Albania subsidiary, JAB Resources SHPK, has obtained a gold exploration permit from the National Licensing Center of the Ministry of Economy, Trade and Energy.
“Arian is thrilled to have received the Exploration License for its flagship Kacinar Project in Albania. Arian is confident that obtaining this Exploration License will result in supreme value to its shareholders as it expands its operations in Albania and the Balkan region,” said Zahir Dhanani, President and CEO of Arian.
Arian Resources Corp. is a rapidly developing gold mining and exploration company with focus on international development. The company’s primary interests are focused on the development of its flagship gold exploration project called the Gjazuj Gold Project located in the Albania. With an exploration project package of this magnitude, Arian plans to stay very busy over the next few years advancing the Gjazuj Gold Project into what is hopefully a sizable resource.
With only 1 million Euro in 2007, Canada has emerged as the top foreign investor in Albania mainly due to huge investments in the oil extraction and mining by several companies, taking over even traditional partners such as neighbouring Greece and Italy.
Bank of Albania data show Canadian FDI in 2011 climbed to Euro 566 million, up from Euro 294 million in 2010 and Euro 102 million in 2009. Already present and successfully operating in the oil and mining industry, Canadian-based companies are showing increased interest in boosting their investments in Albania.
While Canadian companies such as Bankers Petroleum, Petromanas and Stream Oil invest heavily in oil and gas development in Albania, Tirex Resources and Empire are involved in mining.