22 Aug 2012 10:33
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
22 August 2012
Aureus Mining Inc.
TSX: AUE
AIM: AUE
NEWS RELEASE
Issue of new common shares
Aureus Mining Inc. ("Aureus" or the "Company")announces that it has applied for 1,550,930 new common shares in the Company ("Common Shares") to be admitted to trading on the AIM market of the London Stock Exchange ("Admission").
The new Common Shares are being issued pursuant to the signing of an agreement for the acquisition of certain legacy mining rights from Weajue Hill Mining Corporation, as announced on 26 July 2012.
Application has been made and Admission of the new Common Shares is expected to become effective on 28 August 2012. The Common Shares will rank pari passu with the Company's existing Common Shares.
Following admission of the Common Shares, the total issued share capital of the Company will be 121,029,418 Common Shares, all of which have voting rights. The Company holds no shares in treasury.
The above figure of 121,029,418 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Aureus Mining Inc.
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.