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CORRECTION FROM SOURCE: Besra Reports Increased Production and Revenues for its Second Quarter of Fiscal Year 2013

Feb 20 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwire) -- 02/20/13 -- This release is correcting the document of the same title disseminated on February 19, 2013. The figure "15,613,256" in the "Summary of Operations" table has been adjusted to "1,561,326".

BESRA (TSX: BEZ)(ASX: BEZ)(OTCQX: BSRAF)(FRANKFURT: OP6) announces its second quarter operating and financial results for the quarter ending December 31, 2012. Besra reports in United States dollars unless otherwise indicated.

Second Quarter Highlights

--  Increase of NI43-101 resource by 42 percent at Jugan Hill to measured    and indicated 870,500 ounces and inferred 89,900 ounces and by 9.4    percent for the Bau Goldfield.--  Record monthly gold recovery at both Phuoc Son and Bong Mieu process    plants from 92 to 94 percent and 80 to 87 percent, respectively.--  Throughput at Phuoc Son Plant increased sustainably to 1,200 tonnes per    day.--  Granted a 20-year mining license for Jugan, Sirenggok and Jambusan in    Bau, Malaysia.--  Reduced fully diluted share capital by over thirty-six million shares by    restructuring and extension of existing corporate debt lowering the    effective interest.--  Formed a strategic banking alliance with a Vietnamese banking partner.--  In early January 2013 settled Tranche 3c at North Borneo Gold Sdn Bhd,    bringing current effective holding in Bau to 85.05 percent.--  Completed re-branding as Besra (formerly Olympus Pacific Minerals Inc.,    See Besra Press release dated November 20, 2012).


Summary of Operations

                                          3 months                 3 monthsUS$                                   Dec 31, 2012            Sept 30, 2012---------------------------------------------------------------------------Sales                                   21,546,213               19,169,500Mine operating costs Costs of sales                          8,276,825                9,951,426 Royalty expense                         2,790,972                2,203,781 Environmental fees                        945,091                  791,433 Depreciation and  amortization                           5,663,795                4,661,534---------------------------------------------------------------------------                                        17,676,683               17,608,174---------------------------------------------------------------------------Earnings from mine operations                              3,869,530                1,561,326---------------------------------------------------------------------------Gold produced (oz)                          16,204                   11,912Gold sold (oz)                              12,570                   11,625Ore milled (tonnes)                        120,257                   96,189Grade (g/t Au)                                4.49                     4.31Cash operating cost per ounce sold (US$)                              956                    1,112All-in costs(1)                              1,357                    1,496---------------------------------------------------------------------------(1) All-in costs includes all cash operating costs including corporate    administration and sales based taxes. It includes an annualized estimate    of sustaining capital and exploration expenditure. It excludes corporate    income tax.

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