Mila Resources Regulatory News (MILA)

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

7 October 2016

Mila Resources Plc

("Mila Resources" or "the Company")

Admission to Trading and First Day of Dealings

Mila Resources, a natural resources sector focused company, is pleased to announce the admission of its entire issued share capital to trading on the Official List of the London Stock Exchange. This follows the Placing of 21,000,000 Ordinary Shares (the "Ordinary Shares") at a price of £0.05 per share to raise £1,050,000 (before costs), giving the Company a market capitalisation of approximately £1.16 million on Admission (the "Admission"). Dealing will commence at 8.00 a.m. under the TIDM code "MILA" (ISIN: GB00BD4FCK53).

Overview

· Mila Resources is aiming to capitalise on the current economic environment to acquire projects in the natural resources sector, which the Board believes have significant innate value that can be unlocked with minimal capital injection

· Board and Advisory Committee have a proven track record and extensive collective experience in the natural resources sector, particularly in asset evaluation, mine development and financing and creating shareholder value. Their experience within major mining and finance houses as well as junior mining companies, provides an ideal blend of knowledge and expertise with which to implement the Company's business model

· Successfully raised £1.05 million to advance strategy by facilitating the identification, acquisition and development of an initial acquisition and associated technical work

· Defined strategy focused primarily on identifying opportunities to earn-in to majority, operational equity positions in exploration/pre-production projects, which fall into the funding gap between explorer and development investor

· The Company's objective is to create value through a stringent evaluation process, avoiding large buy-in costs to preserve capital for operational programmes, with a view to crystallising value of acquisitions and sustaining projects through the development cycle

George Donne, Mila Resources' Executive Director, said, "We have established Mila Resources at what we believe to be an optimal time in the current economic cycle. While recent trends in the natural resources sector have posed certain challenges for some operators, it has also created an unrivalled opportunity for well-placed companies with the requisite expertise and access to capital. With a defined strategy and an expert advisory committee possessing a fantastic track record, I am delighted with the support we have received from our investors and I am confident that the Company is well-positioned to create significant value in both the short and long-term. The Company's listing on the London Stock Exchange marks the first significant step in its genesis and we look forward to providing the market with updates on our progress in due course."

The Prospectus published by the Company on 29 September 2016 in connection with the Admission can be found at www.milaresources.com.

Board of Directors

The Board is highly experienced in sourcing, financing and developing resource projects.

George Donne, Executive Director

George began his career in JP Morgan's Metals and Mining corporate finance team both in London and Johannesburg. He has worked on several of the most significant mining transactions, including advising Billiton Plc on their USD 38 billion merger with BHP Ltd, to create the world's largest diversified mining company, and the restructuring of Xstrata plc and its listing on the London Stock Exchange. Having left investment banking, he becoming Executive Director of Victoria Oil & Gas Plc, an AIM-quoted E&P company with assets in West Africa and the Former Soviet Union. Whilst at Victoria, he managed the acquisitions of a number of exploration projects, which were successfully brought into production, and the raising of over USD 150 million in equity and convertible debt. Since leaving Victoria in 2010, George has founded a number of new businesses and is currently a partner of AMV Partners LLP, a specialist mining and energy business development consultancy and a director of Heimdall Energy Solutions Limited, a South America-focused renewable energy developer.

Anthony Eastman, Executive Director

Anthony is a Chartered Accountant (Australian qualified) with a number of years' experience in financial management and corporate advisory services, primarily in the natural resources sector, along with extensive experience in the public company environment, having been a director and company secretary of a number of ASX and AIM junior mining and oil & gas focused companies. He has previously worked with Ernst & Young and CalEnergy Gas Ltd, a subsidiary of the Berkshire Hathaway Group of Companies in both Australia and the United Kingdom.

Mark Stephenson, Director

Mark has over 30 years' experience of working for stockbrokers in the City of London including the Panmure Gordon, West LB, Blue Oar Securities and NCL Investments - a Smith & Williamson group company. With the development of the AIM market, Mark has utilised his experience in equity, debt and convertibles to develop innovative financing solutions, for small and mid-size companies. In the last three years he has built a liquidity platform in conjunction with several hedge funds, private client brokers and a syndicate of high net worth investors, which has successfully funded smaller companies during this difficult period.

Advisory Committee

The role of the Advisory Committee is to provide the benefit of its experience on issues such as target quality, potential exploration requirements, commodity market dynamics and business development as the Board assesses potential development projects.

Neil Herbert

Neil is an experienced mining investor with over 25 years' experience in finance and over 18 years in the management of mining and exploration companies. Neil entered the resource sector on joining Chilean copper miner Antofagasta PLC as Group Financial Controller, having previously been employed by PwC in Europe. He was Co-Chairman and Managing Director of Polo Resources Ltd, a highly successful resource investment company and prior to joining Polo, he was Finance Director of African uranium explorer UraMin Inc., until its acquisition in 2007 for USD2.5 billion. Neil has managed companies through project acquisitions, disposals, mine development, stock market listings and fund raisings and has considerable experience as both an executive and a nonexecutive director.

Stuart Murray

Stuart has over 25 years of experience in mining operations and public company management, specifically in the precious metals industry. After joining Impala Platinum's Nickel Copper Refinery in 1984, Stuart was responsible for the commissioning of the new BarPlats base metals refinery at the Crocodile River mine for Rand Mines. He served as an executive director and the Chief Executive Officer of Aquarius Platinum Limited from the time that he was appointed in 2001 until his retirement in 2012. Stuart is currently Non-Executive Chairman of AIM quoted Sylvania Platinum.

Andrew Crozier

Andrew has over 40 years of professional experience in all phases of mining and industrial project development in North America, Latin America, Asia, Africa and countries of the FSU. Andrew has held senior management positions in Kennecott Copper, Fluor, Davy, Jacobs Engineers, Hatch Engineers and Mincorp USA, where he was president and CEO. He has worked on some of the largest mining projects in the world experience includes Kennecott Copper, Escondida, (the world's largest copper mine) and Yanacocha, (the largest gold mine in South America).

Following completion of an initial acquisition, the Company may elect to invite the Advisory Committee member(s) to join the Board as Non-Executive Directors, where appropriate.

**ENDS**

For more information visit www.milaresources.com or contact: