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Exercise of Options

28 Jun 2011 14:30

RNS Number : 2790J
Aureus Mining Inc.
28 June 2011
 



June 28, 2011

 

Aureus Mining Inc.

 

TSX : AUE

 

AIM : AUE

Aureus Mining Inc

 

Exercise of Options

 

Aureus Mining Inc. ("Aureus" or the "Company") announces that it has applied for 46,875 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 exercise of options. Admission is expected to become effective on 4 July 2011. The new Common Shares will rank pari passu with the Company's existing Common Shares.

Following admission of the new Common Shares, the total issued share capital of the Company will be 117,386,523 Common Shares, all of which have voting rights.

The above figure 117,386,523 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.

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 Indicated Mineral Resource of 751,000 ounces of gold grading 4.17 g/t (contained in 5,599,000 tonnes) and an estimated Inferred Mineral Resource of 762,000 ounces of gold grading 3.40 g/t (contained in 7,040,000 tonnes). A preliminary economic assessment ("PEA") of the New Liberty Gold Project filed in December 2010 outlined a robust open pit gold mine with a pre-tax NPV of US$234 million based on an $1100/oz. gold price and a 10% discount rate. The PEA outlined an 8.5 year mine life with approximate production of 100 000 ounces per year in the first five years. The New Liberty Gold Project is being advanced through to a definitive feasibility study.

The New Liberty Gold Project locates 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, Weaju, Silver Hills and Gondoja which are the focus of exploration programs during 2011.

The company also has gold assets within exploration properties in Sierra Leone and Cameroon.

 

Contact Information

Aureus Mining Inc.

David Reading, CEO

Tel: +44 (0) 20 7257 2930

 

 

Buchanan

Bobby Morse / Katharine Sutton

Tel: +44 (0) 20 7466 5000

Evolution Securities Limited

Jeremy Ellis / Neil Elliot

Tel: +44 (0) 20 7071 4300

RBC Capital Markets

Martin Eales

Tel: +44 (0) 20 7653 4000

 

Qualified Person

The Company's Qualified Person responsible for preparing this release is David Reading, who holds a MSc in Economic Geology from University of Waterloo, Canada and is a Fellow of the Institute of Materials, Minerals and Mining. David Reading is the President and CEO of Aureus Mining Inc. and consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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