15 Nov 2012 07:00
November 15, 2012
Aureus Mining Inc.
TSX : AUE
AIM : AUE
RESULTS FOR Q3 2012
Aureus Mining Inc. (TSX: AUE / AIM: AUE) ("Aureus Mining" or the "Company") is pleased to announce its unaudited third quarter results for the period ended September 30, 2012.
The full Financial Statements and the accompanying Management's Discussion and Analysis are available for review at the Company's website, www.aureus-mining.com, as well as being available on www.sedar.com, and should be read in conjunction with this press release.
Contact Information
Aureus Mining Inc. David Reading / Jeremy Cave Tel: +44(0) 20 7010 7690
| Buchanan Bobby Morse / Gordon Poole Tel: +44(0) 20 7466 5000 |
RBC Capital Markets (Nominated Adviser 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
|
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
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 910,000 ounces of gold grading 3.3 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. The project is expected to have an eight and a half year mine life and annual production of 120,000 ounces for the first five years of production.
The New Liberty Gold Project is located within the Bea Mountain mining licence, 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, which covers 89km2, is also a focus of exploration for 2012, with Leopard Rock being the main target.
The Company also has gold exploration permits in Cameroon.