The Namibian Ministry of Mines and Energy granted the renewal of EPL 3195 for a period of two years, ending May 30^th 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 6^th, 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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