Sylvania Resources Limited (SLV.LN), a mineral exploration and mineral treatment projects company announced Friday announced Friday that this was a successful quarter for the Sylvania dump operations or SDO, with record high production of 8,758 ounces from the five SDO plants.

MAIN FACTS:

-SDO revenue increased by 4% to ZAR60 million on the previous quarter, while the average cost per ounce decreased by 13% to ZAR4,667/ounce or oz.

-The company had ZAR153 million cash available at the end of September 2010.

-Mooinooi run of mine or ROM yielding favorable results

-Doornbosch commissioning completed and production on schedule

-JORC compliant resource declared for the Volspruit project

-1.15 million ounces measured and a further 2.44 million ounces indicated and inferred

-The project is well advanced and Sylvania is planning to submit the mining right application in 1Q 2011

-Share Exchange Agreement with Africa Asia Capital Limited consolidates SDO

-Construction of the Lannex tailings dam commence

-Shares closed Thursday at 50.50 pence

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com
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