A settlement has been approved in this class action lawsuit.  If you purchased or acquired, for value, securities of Orsu Metals Corporation, f.k.a. European Minerals Corporation (“EPM”), during the period from and including May 16, 2007 to and including April 11, 2008, you may be a member of the settlement class.

In 2008, a class action was commenced in Ontario against EPM and certain of its current and former senior officers and/or directors (the “Defendants”).  The Plaintiff in the action alleges that EPM’s financial statements, released during the Class Period, were materially false and/or misleading as the result of incorrect accounting for a forward sales contract into which EPM had entered as a requirement of its financing facilities.  The alleged result of the incorrect accounting was that EPM’s financial statements significantly understated its liabilities and overstated its earnings during the Class Period.

On November 26, 2009 the parties to the class action executed a Settlement Agreement which provides that the Defendants will pay $2.2 million (the “Settlement Amount”) in full and final settlement of all claims, including class counsel fees, disbursements, taxes and administration expenses in return for releases and a dismissal of the class action.  The settlement is a compromise of disputed claims and is not an admission of liability, wrongdoing or fault on the part of any of the Defendants, all of whom have denied, and continue to deny, the allegations against them.