TIDMAAAM
RNS Number : 3752E
African Aura Mining Inc.
06 April 2011
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES.
April 6, 2011
TSX-V: AUR
AIM: AAAM
African Aura Mining Inc.
Appointment of Adrian reynolds as Director of Aureus Mining
April 6, 2011, African Aura Mining Inc. ("African Aura" or the
"Company"), the TSX-V (AUR) and AIM (AAAM) listed exploration and
development company with divisions focused on iron ore and gold
projects in sub-Saharan Africa, is pleased to announce that,
further to its recent press releases regarding the proposed
restructuring of its assets with Aureus Mining Inc. ("Aureus
Mining") (the "Arrangement"), Adrian Reynolds has been appointed as
a Non-Executive Director of Aureus Mining with immediate
effect.
Mr Reynolds has over 15 years experience with Randgold Resources
Limited and is a Non-Executive Director at Digby Wells and
Associates (Pty) Ltd. After initial experience in both oil and coal
exploration he moved into deep level gold mining with Gencor Ltd in
the Free State Goldfields. Joining Rand Mines Limited in 1985, he
held positions in geological management in Rand Mines Limited and
its successor Randgold & Exploration Company Limited. He was
part of the executive team at Randgold Resources Limited that
developed the company's original successful strategy. His key
responsibilities included technical oversight of the mining
operations including feasibility studies, audits, compliance and
evaluation of new opportunities. He was also a director of Morila
Ltd and Societe des Mines de Loulo S.A.
David Netherway, Chairman of African Aura and Aureus Mining,
commented:
"We are extremely pleased to welcome Adrian onto the Aureus
board. His depth of experience will complement the current team in
our efforts to develop the New Liberty Gold Mine into production,
and to increase the current resource base."
There is no other information that is required to be disclosed
with regards to the above mentioned appointment pursuant to
Schedule 2 paragraph (g) of the AIM Rules, save as set out
below:
Full Name: Mr Adrian James Reynolds
Age: 56 years
Current Directorships Past Directorships within last
5 years
Digby Wells and Associates (Pty) Morila Ltd
Ltd
Digby Wells and Associates Societe des Mines de Loulo S.A
(International) Ltd
Further to the announcement on 25 March 2011 the Company also
announces that Steven Poulton has elected to step down from the
Board of African Aura and Aureus Mining with immediate effect
rather than upon the completion of the Arrangement as previously
announced.
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 that are intended to be split into
separate listed companies becoming effective, subject to regulatory
and other approvals in April 2011:
- The iron ore division, to be renamed Afferro Mining Inc. as
part of the Arrangement, includes its 38.5% interest in the 2.4Bt
Putu iron ore project in Liberia, which is subject to a resource
expansion drilling programme and moving through pre-feasibility
managed by joint venture partner Severstal Resources (the mining
division of London and 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 1Bt iron ore project and surrounding
iron targets in Cameroon which is subject to a resource expansion
drilling programme targeting 4Bt.
- The gold assets, to be held in Aureus Mining Inc. when listed
independently, include 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 14% interest in AIM-listed
diamond producer Stellar Diamonds Plc (AIM: STEL,
www.stellar-diamonds.com). It is proposed that, following
completion of the Arrangement, this holding will be held by Aureus
Mining.
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
Aureus Mining Inc.
David Reading, CEO
Tel: +44 (0) 20 7257 2930
Evolution Securities Limited
Jeremy Ellis/ Neil Elliot / Tim Redfern
Tel: +44 (0) 20 7071 4300
Pelham Bell Pottinger
Charles Vivian / James MacFarlane
Tel: +44 (0) 20 7861 3232
Qualified Person
Howard Baker has some ten years experience in the exploration,
definition and mining of iron ore Mineral Resources. Howard Baker
is a full-time employee of SRK Consulting (UK) Ltd, an independent
Consultancy and has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration,
and to the type of activity which he is undertaking to qualify as a
Qualified Person in accordance with NI43-101 and a Competent Person
as defined in the June 2009 Edition of the AIM Note for Mining and
Oil & Gas Companies. Howard Baker consents to the inclusion in
the announcement of the matters relating to iron ore in the form
and context in which they appear and confirms that the information
is accurate and not false or misleading.
Mr C G Arnold, BSC(Hons),MSc, MAusIMM (CP) of AMC Consultants
(UK) Limited consents to the inclusion in the announcement of the
matters relating to gold in the form and context in which they
appear and confirms that the information is accurate and not false
or misleading.
Forward-Looking Information
This press release contains certain forward-looking information.
All information, other than information regarding historical fact
that addresses activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future is
forward-looking information. Forward-looking information contained
in this press release includes, but may not be limited to: the
future plans and objectives of African Aura and Aureus Mining,
including the completion of the proposed Arrangement and the terms,
timing and consequences relating thereto; the possible development
of the New Liberty Gold Project to production and the proposed
increase in Aureus Mining's resource base, and resource expansion;
and the listing of Aureus Mining Inc. following the completion of
the Arrangement. The foregoing and other forward-looking
information contained in this press release reflects the current
expectations, assumptions or beliefs of African Aura based on
information currently available to African Aura. With respect to
the forward-looking information contained in this press release,
African Aura has made assumptions regarding, among other things:
general business, economic and mining industry conditions; the
completion of the Arrangement, including the receipt of all
necessary approvals to proceed therewith; the Company's ongoing
exploration and development activities; and it has also been
assumed that no material adverse change in the price of precious
and/or base metals occurs and no significant events occur outside
of African Aura's normal course of business.
Such forward-looking information is 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 a failure to obtain, required regulatory and/or court
approvals; the Company's inability to complete the Arrangement or
obtain a favourable confirmation from the Canada Revenue Agency
regarding the tax consequences of the Arrangement; risks normally
incidental to exploration and development of mineral properties;
adverse changes in precious and/or base metal prices; and future
unforeseen liabilities and other factors including, but not limited
to, those listed under "Risk Factors" in the management information
circular of the Company dated February 28, 2011 and the Company's
Annual Information Form dated April 30, 2010, copies of which are
available under the Company's profile on SEDAR at
www.sedar.com.
Forward-looking information speaks only as of the date on which
it is made and, except as may be required by applicable law,
African Aura disclaims any obligation to update or modify such
forward-looking information, 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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