Angus Mining and Forsys Metals Announce the Full Renewal of the Ondundu Exploration License, and Creation of Partnership with Empowered Namibian Corporation
 Angus Mining (Namibia) Inc. ("Angus" or the "Company") (News - Market indicators), in partnership with Forsys Metals Corp. ("Forsys") (TSX:FSY), is pleased to announce the full renewal of Exclusive Prospecting License 3195 ("EPL 3195") relating to the Ondundu Gold Project in Central Namibia, and the establishment of a partnership with a local, empowered Namibian corporation.
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Keywords :   Gold | Market | Namibia | Precious Metals |

The Namibian Ministry of Mines and Energy granted the renewal of EPL 3195 for a period of two years, ending May 30th 2013. The license requires Forsys and Angus to incur development expenditures of Namibian $32,850,000, or approximately Canadian $ 4,670,000 during that period.

Angus has completed the expenditures required to earn an initial 50.1% stake in the Ondundu Property, and expects to exercise this option in the third quarter of 2011. Angus has the option to acquire an additional 24.9% interest in the project by incurring an additional C $6,000,000 in exploration expenditures by November 6th, 2012.

Angus and Forsys are also pleased to announce the formation of a local partnership with Minden Investments Ltd. ("Minden"), an empowered Namibian corporation. The partnership with Minden was formed to facilitate the direct participation of the Namibian community in the development process of the Ondundu Project, and to provide the Namibian community with a means by which to benefit directly from the project. Through the creation of a joint venture agreement, Minden has been granted an option to earn up to a 10% stake in the Ondundu Project. 

About Angus

Angus Mining (Namibia) Inc. is a Canadian based precious metals exploration company focused on developing the Ondundu Gold Project in West-Central Namibia via a joint venture agreement with Forsys Metals Corp. The Company's goal is to deliver superior shareholder returns by identifying, acquiring and developing high quality assets in a safe and socially responsible manner. Angus Mining is committed to providing economic and social benefit to the Namibian community through the responsible development of mining assets in the Country.

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Angus Mining Ltd

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CODE : ANA.V
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Angus Mining is a gold exploration company based in Canada.

Its main exploration property is ONDUNDU in Namibia.

Angus Mining is listed in Canada. Its market capitalisation is CA$ 191 600 as of today (US$ 146 517, € 130 019).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.93, and its lowest recent point on August 20, 2015 at CA$ 0.01.

Angus Mining has 38 320 000 shares outstanding.

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Nominations of Angus Mining Ltd
12/13/2010Angus Mining (Namibia) Inc. Announces New COO and Grant of S...
12/13/2010Grant of 490,000 Options
Project news of Angus Mining Ltd
7/18/2011(Ondundu)and Forsys Metals Announce the Full Renewal of the Ondundu E...
2/22/2011(Ondundu)Angus Mining Announces Progress of Phase 1 Drilling Program ...
2/22/2011(Ondundu)Announces Progress of Phase 1 Drilling Program and Explorati...
Corporate news of Angus Mining Ltd
7/19/2011Announces Completion of $1 Million Loan
7/12/2011Announces $1 Million Loan
6/23/2011Announces Non-Brokered Private Placement of Up to $2 Million
4/27/2011(Ondundu)Delivers Initial Drill Results from the Ondundu Gold Project...
9/27/2010Golconda Capital Corp. and Angus Mining (Namibia) Ltd. Comp...
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