Churchill upgrades coal resource at EKCP

Churchill Mining PLC, an Indonesian-focused coal mining company, has significantly upgraded the resources of its East Kutai Coal Project (EKCP) in East Kalimantan.

?This reserve statement confirmed during May 2010 has been prepared in accordance with the JORC Code 2004,? the company said on Wednesday.

The company said analysis by independent advisor SMG Consultants had upgraded EKCP?s resources to 1.518 billion tons, consisting of 693MT of measured resource and 825MT of indicated resource.

With inferred resource of 1.212 billion tons, EKCP?s categorized resource now totaled 2.730 billion tons, the company said.

Churchill has also raised US$23.2 million of funds before expenses, by placing 16,087,700 new ordinary shares. "These funds will help Churchill move into the next phase of our development of the world class East Kutai Coal Project," Managing director Paul Mazak said.(denny)

?	Updated	Announced October 2009
JORC Mining Reserve	961 million tonnes	956 million tonnes
JORC Resource	?	?
Measured	693 million tonnes	556 million tonnes
Indicated	825 million tonnes	777 million tonnes
Inferred	1.212 million tonnes	1.149 million tonnes
Total JORC Resources	2.730 million tonnes	2.482 million tonnes