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Orsu Metals Corporation (OSU) Transformation

Strong Buy Recommendation:

On 2nd November 2009 at 11:12am OSU posted the regulatory notice bellow compleating the sale of it's Varvarinskoye Project for US$235m. This comprised US$8m in cash plus a deferred consideration of up to a maximum of a further US$12m in cash. This sale left the group companies with no long-term debt or hedging obligations. At a current share price of 4.125p OSU is capitalized at 18.5m. After the sale of the Varvarinskoye Project OSU still owns three major exploration and development projects(see regulatory announcement below). On 12th November 2009 at 5pm OSU posted interim results for the period ended 30th September 2009. Much of this announcement painted a dire picture of OSU, but referred to the situation the company was in prior to the sale. Now that the interim results have been posted the directors are free to start buying shares.

“2nd November 2009: Orsu Metals Completes the Sale of Varvarinskoye Project

LONDON, UNITED KINGDOM--(Marketwire - Nov. 2, 2009) - Orsu Metals Corporation ("Orsu" or the "Company")
(TSX:OSU)(AIM:OSU) announces today the closing of the sale of its 100% owned Varvarinskoye gold-copper mine in northern Kazakhstan (the "Varvarinskoye Project") to OJSC Polymetal, previously announced on June 15, 2009. As a result of the sale, Orsu and its group companies no longer have any long-term debt or hedging obligations and Orsu intends to use the proceeds from the sale of the Varvarinskoye Project to fund the company's operating costs and to fund ongoing exploration activities on its existing properties. Orsu remains excited by the prospects of its exploration portfolio and will continue to pursue new opportunities and assets in countries of the Former Soviet Union.

ABOUT ORSU

Orsu's exploration and development projects include the Karchiga Volcanogenic Massive Sulphide ("VMS") deposit in Kazakhstan and the Talas and Tokhtazan exploration licence areas in Kyrgyzstan. The business acquisition of Lero Gold Corp. ("Lero") in 2008 positioned Orsu as a growth company which will aggressively continue the exploration and development of its copper-gold projects in Kyrgyzstan and Kazakhstan and pursue new opportunities and acquisitions in countries of the Former Soviet Union.

- Talas Exploration Licence Area, Kyrgyzstan - The Taldybulak copper-gold porphyry deposit is the primary exploration property within the Taldybulak-Talas licence area, which comprises the core assets of the Company in Kyrgyzstan including the Taldybulak, Kentash, Barkol and Korgontash licences. In April 2008, the Company completed a National Instrument 43-101 mineral resource estimate. At a 0.30g/t gold cut-off, the Indicated resource is 79Mt @ 0.63g/t Au and 0.17% Cu with the Inferred resources totalling 163Mt @ 0.58g/t Au and 0.14% Cu. In December 2008, Orsu announced that it had signed a joint venture agreement with Gold Fields for the further exploration and development of the Talas licence area. The recently-completed 2008 and 2009 drilling programme was designed to better delineate the extent and geometry at Taldybulak Central and assess the additional tonnage potential through the testing of peripheral targets along strike to the east, north west and south of the central high grade core.

- Tokhtazan Exploration Licence Area, Kyrgyzstan - The Tokhtazan exploration licence area is located in the Jalal-Abad Oblast, western Kyrgyzstan approximately 100 km south from the Taldybulak deposit and is covered by two exploration licences, Akdjol and Tokhtazan. The Tokhtazan prospect of intrusion-related and shear-zone hosted gold was drilled by Cameco Inc during 1996-1998. Orsu's work during 2005-2008 confirmed the gold tenor identified by Cameco Inc using diamond and RC drilling, with a possibility to extend the mineralization. The 2009 exploration programme is underway incorporating trenching, reverse circulation and diamond drilling as well as samples collection and analysis.

- Karchiga Copper Project, Kazakhstan - The 47.3km2 Karchiga exploration and mining licence contains the Karchiga VMS deposit. The Karchiga copper-gold deposit is located in the extreme north east of the Republic of Kazakhstan, within 40km of the Chinese border and within the Rudny Altai belt which is ranked in the top four VMS belts in the world. In April 2008, the Company released a National Instrument 43-101 mineral resource estimate. At a 0.50% copper cut-off, the Indicated mineral resource is 4.75Mt @ 2.46% Cu while the Inferred mineral resources total 2.81Mt @ 1.81% Cu. The primary scope of the on-going 2008 and 2009 exploration programme is designed to upgrade the previously reported mineral resource estimate to Measured and Indicated categories under National Instrument 43-101.”