Lachlan Star Files Quarterly Report for the Period Ending 30 June 2013

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PERTH, WESTERN AUSTRALIA -- (Marketwired - July 31, 2013) - Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (TSX:LSA) (ASX:LSA) is pleased to provide the following quarterly report for the period ending 31 July 2013.


HIGHLIGHTS:

CMD GOLD MINE (100%, CHILE)

- 506 % increase in Gross Operating Profit for the CMD Gold Mine to US$2.15 million for the Quarter;

- Gold production increased 48% quarter on quarter to 16,160 ounces of gold in the June quarter, a record under the Company's ownership;

- Gold stacked increased 16% quarter on quarter to 20,788 ounces in the June quarter, a record under the Company's ownership;

- Stacked grade increased by 6% quarter on quarter to 0.52 g/t Au;

- Mined ore grade increased by 19% quarter on quarter to 0.58 g/t Au;

- Waste to ore ratio reduced by 8% quarter on quarter to 2.49:1, the lowest under the Company's ownership

- Average stacking rate in the month of June increased to over 15,671 tpd with 470,141 tonnes of ore stacked, a record under the Company's ownership

- Owner mining fleet unit rates reduced to US$1.87 per tonne mined in the month of June, a record low since commencement of owner mining

- Total costs reduced to $14.93 per tonne of ore stacked for the month of June, a record low under the Company's ownership;

- Market capitalisation of the Company in gold now at 17,000 ounces, with 2.06 million ounces of Indicated mineral resources and a further 1.35 million ounces of Inferred mineral resources.


CORPORATE

- A$3,919,114 private placement completed at a price of C$0.57 a share and 7,265,000 shares issued

- Executive Chairman and Chief Financial Officer agree to reduce fees by 30% from 1 August while gold price is below US$1,500 per ounce

To view the full announcement please click the link below:
http://www.lachlanstar.com.au/images/LSA_Quarterly_Report__June_13_Final.pdf



Contact

Lachlan Star Limited
Sarah Beardmore
+61(8) 9481 6006
sarah.beardmore@lachlanstar.com.au
www.lachlanstar.com.au