TSX : AUE
AIM : AUE
TORONTO, Feb. 14, 2012 /CNW/ - Aureus Mining Inc. (TSX: AUE / AIM: AUE)
("Aureus Mining" or the "Company") announces that it has appointed RBC
Europe Limited, trading as RBC Capital Markets, as its Nominated
Adviser and Joint Broker with immediate effect.
Additionally, the Company announces that is has appointed GMP Securities
Europe LLP to act as its Joint Broker with immediate effect.
About Aureus Mining
The Company's assets include the New Liberty gold deposit in Liberia
(the "New Liberty Gold Project"), which has an estimated Reserve of
873,000 ounces of gold grading 3.1 g/t and an estimated Measured and
Indicated Mineral Resource of 1,086,000 ounces of gold grading 3.6 g/t
and an estimated Inferred Mineral Resource of 483,000 ounces of gold
grading 3.5 g/t. A technical update for the New Liberty gold project
was released in February 2012, de-risking and building on the robust
preliminary economic assessment ("PEA"), filed in December 2010. This
update outlined an improved pre-tax NPV of US$ 260 million based on a
US$ 1,350/oz. average gold price and a discount rate of 8 %, with an 8
year mine life and an average production of 123,000 ounces per year
modelled for the first four years.
The New Liberty Gold Project is located 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, Gondoja and Weaju, which are the focus of exploration
programs during 2012 along with the Company's Archaen Gold exploration
license contiguous with and immediately south of the Bea Mountain
mining license and containing the Leopard Rock target.
The Company also has gold assets within exploration properties in
SOURCE Aureus Mining Inc.
For further information:
Aureus Mining Inc.
David Reading / Jeremy Cave
Tel: +44(0) 20 7257 2930
RBC Capital Markets
Nominated Adviser and Joint Broker
Martin Eales / Richard Hughes / Jonathan Hardy
Tel: +44(0) 20 7653 4000
GMP Securities Europe LLP
Richard Greenfield / Alexandra Carse
Tel: +44(0) 20 7647 2800
Bobby Morse / James Strong
Tel: +44(0) 20 7466 5000