African Aura Mining Inc. ("African Aura" or the
"Company"), the TSX V (AUR) and AIM (AAAM) listed exploration and
development company focused on gold and iron ore in sub-Saharan Africa, is
pleased to announce the appointment of David Reading as a non-executive
director to the Board of African Aura, with immediate effect.
Mr Reading has significant expertise in the global mining industry with over 35
years' experience across the fields of exploration, feasibility, project
development and mining. Mr Reading has an MSc in Economic Geology and has held
senior positions with leading mining companies. He is the former CEO of
European Goldfields and the former General Manager of African exploration for
Randgold Resources. In addition he has held senior exploration and project
development positions for Anglo American and Phelps Dodge. Pursuant to his
appointment and the Company's Stock Option Plan, Mr Reading has been granted
200,000 incentive stock options over the Company's common shares of no par
value at an exercise price of C$2.26 per share, being equal to the closing
price of the Company's shares on the TSX-V on 29 October 2010. The options are
granted for nil consideration and are exercisable immediately and for a period
of five years from 01 November 2010. Mr Reading presently owns 200,000 common
shares in the Company.
David Netherway, Chairman of African Aura, commented:
"We are pleased to welcome David to the Board of Directors. His proven
track record in the exploration and development of substantial gold projects
will be invaluable to African Aura as we move the New Liberty Gold project in
Liberia towards production. David's expertise will complement the existing
skills of the board and be valuable in maximising the potential of New Liberty
as well as identifying and developing value creating growth opportunities in
West Africa for our gold division."
The information in relation to Mr. Reading's appointment required pursuant to
Schedule 2 paragraph (g) of the AIM rules for Companies is as follows:
Mr. Reading holds, or has held, the following directorships in the last five
years:
Current Directorships:
Rio Novo Gold Inc.
Previous Directorships:
European Goldfields Ltd.
About African Aura Mining Inc.
African Aura is an established exploration and development company listed on
the TSX-V (AUR) and London's AIM (AAAM). The Company operates two divisions,
namely: iron ore and gold:
- The iron ore division includes its 38.5% interest in the Putu iron ore
project in Liberia, which is moving through pre-feasibility managed by joint
venture partner Severstal Resources (the mining division of Moscow listed OAO
Severstal). In 2010 Putu was granted a 25 year renewable Mineral Development
Agreement by the Government of Liberia. The division also includes a 100%
interest in the Nkout iron ore project and surrounding iron targets in Cameroon
which is subject to a resource definition drilling programme.
- The gold division includes the multi million ounce potential New Liberty
greenstone gold deposit, which is being advanced through a bankable feasibility
study, and the proximal Ndablama, Weaju, Silver Hills and Gondoja gold projects
all within the Company's Bea Mountain 25 year renewable Mineral Development
Agreement.
In addition, the Company presently has a 22% interest in AIM-listed diamond
producer Stellar Diamonds Plc (AIM: STEL, www.stellar-diamonds.com).
The Company has a highly motivated and experienced team with a track record of
discovering mines and taking projects through development and into production.
As a pioneer, African Aura has attracted some excellent strategic partners and
shareholders, always with the objective of preserving or enhancing shareholder
value. For further information on the Company you are invited to visit its
website at www.african-aura.com, or SEDAR's website at www.sedar.com, or
contact one of the following:
African Aura Mining Inc.
Luis da Silva, President & CEO
Tel: +44 (0) 20 7299 4212
Evolution Securities Limited
Simon Edwards / Tim Redfern / Neil Elliot
Tel: +44 (0) 20 7071 4300
Pelham Bell Pottinger
Charles Vivian / James MacFarlane
Tel: +44 (0) 20 7861 3232
Forward-looking Statements
This press release includes certain forward-looking statements. All statements,
other than statements of historical fact, included herein, including without
limitation, statements regarding the future plans and objectives of African
Aura, are forward-looking statements that involve various known and unknown
risks and uncertainties as well as other factors. Such forward-looking
statements are subject to a number of risks and uncertainties that may cause
actual results or events to differ materially from current expectations,
including delays in obtaining or failure to obtain required regulatory
approvals. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from
those anticipated in such statements. Any forward-looking statements speak only
as of the date hereof and, except as may be required by applicable law, African
Aura disclaim any obligation to update or modify such forward-looking
statements, either as a result of new information, future events or for any
other reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
Ends
Copyright �
2010 AFRICAN AURA MINING INC. (TSX-V: AUR & AIM:AAAM) All rights reserved.
For more information visit our website at http://www.african-aura.com/ or send email to info@african-aura.com
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sent on Mon Nov 1, 2010 at
12:05:56 AM Pacific Time