The Mission Group Regulatory News (TMG)

15 Aug 2005 17:00

Thistle Mining Inc.15 August 2005 Thistle Expects to Apply for Relisting on the TSX in early 2006 Toronto, August 15, 2005 - Thistle Mining Inc. ("Thistle" or "the Company")(TSX: THT and AIM: TMG) Thistle announces that its board of directors has decided that it wouldproceed with its application to relist on the Toronto Stock Exchange ("TSX")only after the restructuring of the President Steyn operation in South Africahas been completed. Thistle's common shares were suspended from trading on TSXon December 31, 2004 and remained suspended during Thistle's restructuring underthe Companies' Creditors Arrangement Act which was completed on June 30, 2005.Thistle now intends to apply for the relisting on the TSX early in 2006. In early 2006, Thistle anticipates that a "Life of Mine Plan" for PresidentSteyn will have been completed, the pre-feasibility study for President Steyn'sGolden Triangle growth project will have been finalized and Thistle's PhilippineMasbate feasibility study will have been completed. It is anticipated that thefunding needs of the Company will have also been formulated. Thistle's common shares will continue to trade on AIM, a market operated by theLondon Stock Exchange. Financial statements will continue to be released throughSEDAR, the Company's web site and through the Company's investor and publicrelations consultants. The Financial Statements of the Company for the quarter ended March 31, 2005have been filed and are available on SEDAR. The quarterly report for the periodended June 30, 2005 is expected to be released in early September. Statements made in this news release that relate to future plans, events orperformances are forward-looking statements. Any statement containing wordssuch as "believes", "plans", "expects" or "intends" and other statements whichare not historical facts contained in this release are forward-looking and thesestatements are based on current expectations and involve risks and uncertaintiesthat are described in Thistle's most recent Annual Information Form and otherpublicly available documents, which are accessible at www.sedar.com.Consequently, actual outcomes and results may differ materially from thoseexpressed in these forward-looking statements and readers are cautioned not toplace undue reliance on them. For further information, contact Gerrit Kennedy, Chief Executive Officer,+27825577460, Neil Murray-Lyon of Renmark, 514-939-3989, or Brian Gibson at +278801510. This information is provided by RNS The company news service from the London Stock Exchange