Lydian Armenia

Lydian Armenia CJSC is an Armenian mineral exploration and mining company. Lydian Armenia CJSC is a 100% owned subsidiary of Lydian International Limited (TSX:LYD). Lydian Armenia (previously Geoteam CJSC) is carrying out geological exploration in the Amulsar area of Armenia's Vayots Dzor Marz since 2006. In 2014 mining right and environmental permit for the project construction were granted to the company. In 2015 Lydian International disclosed Environmental and Social Impact Assessment of Amusar Project; its updated version was disclosed in 2016. After having secured necessary financing in 2016, the construction of Amuslar project is now underway. Lydian Armenia is committed to build and operate Amulsar Gold Project in line with good international practice and in compliance with the Performance Standards and Requirements of IFC and EBRD that are among Lydian International shareholders.