6 Jun 2011 07:02
For Immediate Release 6 June, 2011
Aureus Mining Inc.
TSX : AUE
AIM : AUE
Appointment of Non-Executive Director
Aureus Mining Inc. ("Aureus" or the "Company") announces that Jean-Guy Martin (56) has been appointed as a Non-Executive Director of the Company. Jean-Guy was, until his recent retirement, a senior partner at PricewaterhouseCoopers LLP where over the last fifteen years he held senior management and client service leadership responsibilities at Canadian, North American and Global levels. Jean-Guy is a certified public accountant and a chartered accountant and is presently an independent member of the Audit Committee of Québec en Forme, a non-profit organisation founded by the Chagnon Foundation and the Quebec Government.
The Company also announces that David Allan Knight, a Non-Executive Director of the Company has resigned from the Aureus Board.
David Netherway, Chairman of Aureus commented: "We welcome Jean-Guy to the Board and look forward to tapping into his wealth of experience from his time at PWC. On behalf of Board, I would also like to thank David Knight for his contribution as a Non-Executive Director."
Disclosure of Directorships under Schedule 2(g) of the AIM Rules 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:
Current Directorships | Past Directorships within last 5 years |
| Québec en Forme |
| PricewaterhouseCoopers LLP |
About Aureus Mining Inc.
The company's assets include the New Liberty gold deposit in Liberia (the "New Liberty Gold Project"), which has an estimated Indicated Mineral Resource of 751,000 ounces of gold grading 4.17 g/t (contained in 5,599,000 tonnes) and an estimated Inferred Mineral Resource of 762,000 ounces of gold grading 3.40 g/t (contained in 7,040,000 tonnes). A preliminary economic assessment ("PEA") of the New Liberty Gold Project filed in December 2010 outlined a robust open pit gold mine with a pre-tax NPV of US$234 million based on an $1100/oz. gold price and a 10% discount rate. The PEA outlined an 8.5 year mine life with approximate production of 100 000 ounces per year in the first five years. The New Liberty Gold Project is being advanced through to a definitive feasibility study.
The New Liberty Gold Project locates within the Bea Mountain mining license which covers 457 km2 and has a 25 year, renewable, mineral development agreement. The Bea Mountain mining license also hosts the proximal gold targets of Ndablama, Weaju, Silver Hills and Gondoja which are the focus of exploration programs during 2011.
The company also has gold assets within exploration properties in Sierra Leone and Cameroon.
Contact Information
Aureus Mining Inc. David Reading, CEO Tel: +44 (0) 20 7257 2930
| Buchanan Bobby Morse / Katharine Sutton Tel: +44 (0) 20 7466 5000 |
Evolution Securities Limited Jeremy Ellis / Neil Elliot Tel: +44 (0) 20 7071 4300
| RBC Capital Markets Martin Eales Tel: +44 (0) 20 7653 4000 |
Qualified Person
The Company's Qualified Person responsible for preparing this release is David Reading, who holds a MSc in Economic Geology from University of Waterloo, Canada and is a Fellow of the Institute of Materials, Minerals and Mining. David Reading is the President and CEO of Aureus Mining Inc. and consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.