ALO.L Regulatory News (ALO)

Alecto Energy plc / EPIC: ALO / Market: AIM / Sector: Exploration & Development

16 May 2011

Alecto Energy plc ("Alecto" or the "Company")

Appoints SRK Consultants to Commence Phase Two of Exploration at Gold and Base Metal Licences, Mauritania

Alecto Energy plc, the AIM listed resource investment company, is pleased to announce the details of Phase Two of its exploration programme at the Company's Wad Amour (615 sq km), Zreibya (529 sq km) and Chegar (756 sq km) gold and base metal licences located in the prospective Mauritanide mobile belt of Mauritania. 

Overview

·; Leading consultants SRK Exploration Services ('SRK ES') appointed to conduct Phase Two of exploration - to commence by the end of May 2011

·; Programme intended to strengthen Alecto's understanding of the licences

·; Particularly targeting two defined copper anomalies with strike lengths of over 800m and 900m in Wad Amour licence and areas indicating gold pathfinder minerals

·; Work programme to include further soil sampling, geophysical surveys and trenching

Alecto Executive Director Damian Conboy said, "Having received highly encouraging copper results and identified gold path finder minerals from phase 1 of exploration at our Mauritanian gold and base metal assets, we look forward to building upon our findings over the coming weeks as we advance our assets towards drill ready status. We are committed to fast-tracking exploration across our portfolio and are pleased to be working once again with leading independent consultants SRK ES as we focus on creating value in both Mauritania and Ghana." 

The Phase One exploratory work identified two well defined copper in soils anomalies located at the Wad Amour licence area, and early indications demonstrate solid grades. SRK ES believes these targets to be highly prospective and will focus on these as a high priority in Phase Two. Further soil sampling using a handheld XRF will be undertaken on the licences on a regional scale to cover prospective structures in the Wad Amour and Zreibya licences. Additionally, a second stage of geophysical surveys (Mag±EM), analysis and interpretation should follow up and further develop those targets identified through the regional geophysics study in phase one. Trenches will be excavated where appropriate on targets delineated from geochemistry, mapping and geophysics. In particular, multiple areas where gold pathfinder minerals were identified will be targeted. 

The Phase Two programme is expected to take six weeks with samples being sent to an independent laboratory for analysis, and results published to the market on receipt.

**ENDS**

For further information, please visit www.alectoenergy.com or contact:

Notes:

Alecto Energy Plc is an AIM listed resource exploration and development company focussed on Africa. 

Alecto has a diverse portfolio of exploration assets in both Mauritania and Ghana. In Mauritania, the Company currently owns three gold and base metal development licences totalling 1,902 sq km and two uranium licences totalling 1,592 sq km in the highly prospective Mauritanide mobile belt. Additionally, the Company controls a 191 sq km gold exploration licence in the highly prospective Ashanti Gold Belt in Ghana. Alecto is committed to conducting exploratory work across its portfolio, designed to strengthen the Company's knowledge of the assets and delineate targets for further exploration.

Alecto also has a 9.73% shareholding in AIM listed resource investment company Charles Street Capital plc. The Board believes this investment will provide Alecto with exposure to a diverse range of potential resource projects.