Grant of Stock Options (2250Z)
January 11 2011 - 2:00AM
UK Regulatory
TIDMAAAM
RNS Number : 2250Z
African Aura Mining Inc.
11 January 2011
11 January 2011
TSX-V: AUR
AIM: AAAM
African Aura Mining Inc.
GRANT OF STOCK OPTIONS
The Board of African Aura Mining Inc ("African Aura" or the
"Company") announces that, pursuant to its Stock Option Plan, it
has granted incentive stock options to certain directors and
employees of the Company. The share options were granted over a
total of 2,285,000 common shares, representing approximately 2.7%
of the issued share capital of the Company at an exercise price of
Cdn$2.75 per share, exercisable immediately and for a period of
five years from 10 January 2011. The allocation of stock options to
directors was as follows:
New options issued Total options held
David Netherway Chairman 300,000 1,055,123
----------------- ------------------- -------------------
Luis da Silva President & CEO 400,000 1,157,500
----------------- ------------------- -------------------
Steven Poulton Director 225,000 782,937
----------------- ------------------- -------------------
David Evans Director 150,000 762,500
----------------- ------------------- -------------------
Guy Pas Director 150,000 706,250
----------------- ------------------- -------------------
Boris Granovsky Director 150,000 300,000
----------------- ------------------- -------------------
David Reading Director 150,000 350,000
----------------- ------------------- -------------------
These options were issued for nil consideration.
About African Aura Mining Inc.
African Aura is an established exploration and development
company listed on the TSX-V (AUR) and London's AIM (AAAM). The
Company operates two divisions, namely: iron ore and gold:
- The iron ore division includes its 38.5% interest in the Putu
iron ore project in Liberia, which is moving through
pre-feasibility managed by joint venture partner Severstal
Resources (the mining division of Moscow listed OAO Severstal). In
September 2010 Putu was granted a 25 year renewable Mineral
Development Agreement by the Government of Liberia. The division
also includes a 100% interest in the Nkout iron ore project and
surrounding iron targets in Cameroon which is subject to a resource
definition drilling programme.
- The gold division includes the New Liberty gold deposit in
western Liberia which has a resource of 1.51 million ounces of gold
grading 3.78 g/t (comprising 5,599,000 tonnes grading 4.17 g/t in
the indicated category and 7,040,000 tonnes grading 3.40 g/t in the
inferred category) which is being advanced through a bankable
feasibility study, and the proximal Ndablama, Weaju, Silver Hills
and Gondoja gold projects all within the Company's Bea Mountain 25
year renewable Mineral Development Agreement.
- In addition the Company has a 22% interest in AIM-listed
diamond producer Stellar Diamonds Plc (AIM: STEL,
www.stellar-diamonds.com).
The Company has a highly motivated and experienced team with a
track record of discovering mines and taking projects through
development and into production. As a pioneer, African Aura has
attracted some excellent strategic partners and shareholders,
always with the objective of preserving or enhancing shareholder
value. For further information on the Company you are invited to
visit its website at www.african-aura.com or SEDAR's website at
www.sedar.com, or contact one of the following:
African Aura Mining Inc.
Luis da Silva, President & CEO Tel: +44 (0) 20 7257 2930
Evolution Securities Limited
Rob Collins / Tim Redfern Tel: +44 (0) 20 7071 4300
Pelham Bell Pottinger
Charles Vivian / James MacFarlane Tel: +44 (0) 20 7861 3232
Forward-looking Statements
This press release includes certain forward-looking statements.
All statements, other than statements of historical fact, included
herein, including without limitation, statements regarding the
future plans and objectives of African Aura, are forward-looking
statements that involve various known and unknown risks and
uncertainties as well as other factors. Such forward-looking
statements are subject to a number of risks and uncertainties that
may cause actual results or events to differ materially from
current expectations, including delays in obtaining or failure to
obtain required regulatory approvals. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Any forward-looking statements speak only as of
the date hereof and, except as may be required by applicable law,
African Aura disclaim any obligation to update or modify such
forward-looking statements, either as a result of new information,
future events or for any other reason.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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