TSX : AUE
AIM : AUE
TORONTO, Sept. 19, 2011 /CNW/ - Aureus Mining Inc. ("Aureus" or the "Company") announces that it has applied for 89,062 new common shares in the
Company ("Common Shares") to be admitted to trading on the AIM market
of the London Stock Exchange ("Admission"). Application will also be
made for listing on the TSX Venture Exchange ("TSX-V").
The new Common Shares are being issued pursuant to the exercise of
options. Admission is expected to become effective on 23 September
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 117,761,115 Common Shares, all of which
have voting rights.
The above figure (117,761,115) 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.
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
SOURCE Aureus Mining Inc.
For further information:
| Aureus Mining Inc. |
David Reading / Jeremy Cave
Tel: +44 (0) 20 7257 2930
| || || || Buchanan |
Bobby Morse / James Strong
Tel: +44 (0) 20 7466 5000
| Evolution Securities Limited |
Jeremy Ellis / Neil Elliot
Tel: +44 (0) 20 7071 4300
| || || || RBC Capital Markets |
Martin Eales / Richard Hughes
Tel: +44 (0) 20 7653 4000