13 Apr 2012 09:40
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
13 April 2012
Aureus Mining Inc.
TSX: AUE
AIM: AUE
AureUs Mining Inc.
Grant of Stock Options
The Board of Aureus Mining Inc. ("Aureus" or the "Company") announces that, pursuant to its Stock Option Plan, it has granted 250,000 incentive stock options to certain employees and 50,000 incentive stock options to a financial consultant of the Company.
The share options have been granted over a total of 300,000 common shares, representing approximately 0.25% of the issued share capital of the Company at an exercise price of C$1.05 per share (as referenced to the TSX closing price on 12 April 2012). In addition, the 50,000 stock options are subject to the satisfaction of certain performance conditions.
Contact Information
Aureus Mining Inc.
David Reading / Jeremy Cave
Tel: +44 (0) 20 7257 2930
RBC Capital Markets
Nominated Advisor and Joint Broker: Martin Eales / Richard Hughes / Jonathan Hardy
Tel: +44 (0) 20 7653 4000
GMP Securities Europe LLP
Joint Broker: Richard Greenfield / Alexandra Carse
Tel: +44 (0) 20 7647 2800
Buchanan
Bobby Morse / James Strong
Tel: +44 (0) 20 7466 5000
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 Reserve of 873,000 ounces of gold grading 3.1 g/t and an estimated Measured and Indicated Mineral Resource of 1,086,000 ounces of gold grading 3.6 g/t and an estimated Inferred Mineral Resource of 483,000 ounces of gold grading 3.5 g/t. A technical update for the New Liberty gold project was released in February 2012, de-risking and building on the robust PEA, filed in December 2010. This update outlined an improved pre-tax NPV of US$260 million based on a US$ 1,350 / oz. gold price and a discount rate of 8 %, with an eight year mine life and annual production of 123,000 ounces for the first four years.
The New Liberty Gold Project is located 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, Gondoja and Weaju, which are the focus of exploration programs during 2012.
The Company also has gold assets within exploration properties in Cameroon.
Ends