Azumah Resources Limited Files Final Short Form Prospectus

/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

ASX / TSX Media Release           
ASX Code - AZM
TSX Code - AZR
www.azumahresources.com.au

Investment Highlights:

  • NI 43-101 and JORC Code compliant  0.52Moz Inferred and 0.65Moz Indicated Mineral Resource at Wa Gold Project, NW Ghana
  • 100% of 3,100km2 licences hosting over 150km of prospective Birimian greenstone belt. Less than 10% effectively explored
  • Feasibility Study nearly completed for multi-pit, +1.0Mtpa, 100,000oz per year mining and gravity / CIL operation
  • Pipeline of drill-ready targets
  • Aggressive 250,000m, 2011/12 drilling programme focused on resource discovery and increase
  • + 15% strategic investment in neighbour, Castle Minerals Limited
  • Board and management team of successful explorers, mining and corporate professionals

Issued Capital:

282.02M ordinary shares
9.5M unlisted options
2M performance rights

Directors & Management:

Chairman:
Michael Atkins

Managing Director:
Stephen Stone

Non-Executive Director:
Geoff M Jones

Company Secretary:
Dennis Wilkins

TORONTO, Feb. 16, 2012 /CNW/ - Azumah Resources Limited ("Azumah" or the "Company") (TSX: AZR, ASX: AZM) announced today that it has filed, and received a receipt for, a final short form prospectus in connection with an offering of 50 million ordinary shares (the "Shares") of the Company at a price per share of C$0.40 for total gross proceeds of C$20 million (the "Offering").  The Offering is being conducted in each province of Canada, other than Quebec, and certain international jurisdictions subject to exemptions from prospectus and registration requirements.

The Company intends to use the net proceeds of the Offering to accelerate the exploration of the Wa Gold Project located in Ghana (the "Wa Gold Project"), as well as to complete the related feasibility study and advance permitting and other pre-construction expenditures relating to development of the Wa Gold Project and general corporate and working capital purposes.

Casimir Capital Ltd. and RBC Dominion Securities Inc. are acting as underwriters to the Company in connection with the Offering. The Offering is scheduled to close on or about February 24, 2012.

This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ordinary shares in any state in which such offer, solicitation or sale would be unlawful. The ordinary shares have not been registered and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the ordinary shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from the registration requirements is available.

Cautionary Statement Regarding Forward-Looking Information
This news release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or to be achieved and any other similar expressions. In providing the forward-looking information in this news release, the Company has made numerous assumptions regarding: (i) the accuracy of exploration results received to date; (ii) anticipated costs and expenses; (iii) that the results of the feasibility study continue to be positive; and (iv) that future exploration results are as anticipated.

Management believes that these assumptions are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risks Factors" in the Company's annual information form available on www.sedar.com. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, Azumah does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place under reliance on forward-looking information.

SOURCE Azumah Resources Inc

For further information:

Stephen Stone 
Managing Director
Tel: +61 (0)418 804 564
stone@azumahresources.com.au

Nicole Harrison - Australia
NRW Communications
+61 (0) 451 184 148
nicole.harrison@nrwcommunications.com.au 

Joanna Longo - North America
Terre Partners
+1 416 238 1414
Jlongo@terrepartners.com

Organization Profile

Azumah Resources Inc

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