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* Provides update on financial outlook and rock creek project in Alaska
* Says unconsolidated cash position has decreased to approximately C$10
million.
* Says has been actively seeking additional financing to allow it to repay a
bridge loan due December 29
* Says continuing to review strategic alternatives with its advisors including
raising additional equity
* Says to suspend operations at the rock creek mine
* Says alternatives also include debt financing, sale of assets and other
restructuring alternatives
* Says if it is not able to raise additional cash in December it will not have
sufficient cash to meet its obligations
* Says rock creek mine has experienced unanticipated mechanical problems
* Says will be reviewing impairment testing for rock creek project
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
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