15 Aug 2012 15:44
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
15 August 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 the terms of the Company's Stock Option Plan, the Company has granted 250,000 incentive stock options at an exercise price of C$0.74 per share, being equal to the closing price of the common shares on 14 August 2012 on the TSX. 250,000 options are exercisable immediately and for a period of 5 years from 15 August 2012. No consideration was paid for the options.
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
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 / Gordon Poole
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 1,143,000 ounces of gold grading 3.6 g/t and an estimated Inferred Mineral Resource of 593,000 ounces of gold grading 3.2 g/t. A technical update for the New Liberty Gold Project was released in February 2012, derisking and building on the robust PEA, filed in December 2010. The project is expected to have 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 contiguous Archaen Gold exploration licence is also a focus of exploration for 2012, with Leopard Rock being the main target.
The Company also has gold assets within exploration properties in Cameroon.
Qualified Person
The estimates of mineral Resources were calculated in accordance with NI 43-101 and carried out by Chris G Arnold BSc (Hons), MSc, MAusIMM (CP) of independent consultants AMC. The Reserve Study was prepared by Mr M Staples of AMC, a Qualified Person, for the purposes of the study, under the standards set forth by National Instrument 43-101 "Standards of Disclosure for Mineral Project", of the Canadian Securities Administrators ("NI 43-101"), and he has also reviewed and approved the contents of this news release, as applicable.