Aureus Mining Inc. Grant of Stock Options (5898W)
10 November 2014 - 10:33PM
UK Regulatory
TIDMAUE
RNS Number : 5898W
Aureus Mining Inc.
10 November 2014
10 November 2014
Aureus Mining Inc.
TSX : AUE
AIM : AUE
Grant of Stock Options
The board of Aureus Mining Inc. ("Aureus" or the "Company")
announces that, pursuant to the terms of the Company's Stock Option
Plan, the Company has granted Karin Ireton, a Non-Executive
Director of the Company, 200,000 stock options ("Options") at an
exercise price of C$0.33 per share, being equal to the closing
price of the common shares on 7 November 2014 on the TSX. 100,000
Options are exercisable immediately, with the remainder vesting
after one year. The Options are capable of being exercised up to 9
November 2019 and no consideration was paid for the Options.
Contact Information
Aureus Mining Inc. Buchanan
David Reading / Paul Thomson Bobby Morse / Gordon Poole
Tel: +44(0) 20 7010 7690 Tel: +44(0) 20 7466 5000
----------------------------- -------------------------------
Numis Securities Limited GMP Securities Europe
(Nominated Adviser and LLP (Joint Broker)
Joint Broker) Richard Greenfield / Alexandra
John Prior / James Black Carse
/ Paul Gillam Tel: +44(0) 20 7647 2800
Tel: +44(0) 20 7260 1000
----------------------------- -------------------------------
About Aureus Mining Inc.
The Company's assets include the New Liberty gold deposit in
Liberia (the "New Liberty Gold Project," "New Liberty" or the
"Project"), which has an estimated proven and probable mineral
reserve of 8.5 Mt with 924,000 ounces of gold grading 3.4 g/t and
an estimated measured and indicated mineral resource of 9,796 Kt
with 1,143,000 ounces of gold grading 3.63 g/t and an estimated
inferred mineral resource of 5,730 Kt with 593,000 ounces of gold
grading 3.2 g/t. A Definitive Feasibility Study ("DFS") has been
completed on the Project and construction is well progressed. The
Project is expected to have an 8 year mine life and annual
production of 119,000 ounces for the first 6 years of production.
The Company has financed the Project's equity and debt funding
requirement. The foregoing mineral reserve and mineral resource
estimates and additional information in connection therewith are
set out in the Company's technical report dated July 3, 2013 and
entitled "New Liberty Gold Project, Liberia, West Africa, Updated
Technical Report."
The New Liberty Gold Project is located within the Southern
Block of the 100% owned Bea Mountain mining licence. This licence
covers 457 km(2) and has a 25 year, renewable, mineral development
agreement. The Northern Block of the Bea Mountain mining license
also hosts additional gold projects of Ndablama, Gondoja and Weaju,
which are the focus of exploration programs during 2014. Ndablama
has an inferred mineral resource of 6,829 Kt with 451,000 ounces of
gold grading 2.1 g/t and Weaju has an inferred mineral resource of
2,680 Kt with 178,000 ounces of gold grading 2.1 g/t. The Archaen
Gold exploration licence, which covers 89 km(2), is also a focus of
exploration for 2014, with Leopard Rock being the main target. The
Yambesei (759 km(2) ), Archaen West (112.6 km(2) ), Mabong (36.6
km(2) ) and Mafa West (15.6 km(2) ) licences will also be subject
to preliminary reconnaissance geological work. The foregoing
mineral resource estimates and additional information in connection
therewith are set out in the Company's technical report dated
November 11, 2013 and entitled "Ndablama and Weaju Gold Projects,
Bea Mountain Mining Licence, Northern Block, Technical Report on
Mineral Resources."
The Company also has a gold exploration permit in Cameroon.
Qualified Persons
The estimates of mineral Resources for the DFS were calculated
in accordance with NI 43-101 and carried out by Chris G Arnold BSc
(Hons), MSc, MAusIMM (CP) of independent consultants AMC. The
Reserve Study for the DFS was prepared by Mr M Staples of AMC, a
Qualified Person, for the purposes of the study, under the
standards set forth by National Instrument 43-101 "Standards of
Disclosure for Mineral Project", of the Canadian Securities
Administrators ("NI 43-101").
The Company's Qualified Person is David Reading, who holds a MSc
in Economic Geology from University of Waterloo, Canada and is a
Fellow of the Institute of Materials, Minerals and Mining. David
Reading is the President and CEO of Aureus Mining Inc. and approves
this press release.
Forward Looking Statements
Certain information in this news release relating to Aureus is
forward-looking and related to anticipated events and strategies.
When used in this context, words such as "will", "anticipate",
"believe", "plan", "intend", "target" and "expect" or similar words
suggest future outcomes. Forward-looking information contained in
this press release includes, but may not be limited to, mineral
reserve and mineral resource estimates, the expected mine life and
production of the New Liberty Gold Project and the anticipated
exploration and development activities of Aureus. By their nature,
such statements are subject to significant risks and uncertainties
that may cause actual results or events to differ materially from
current expectations, including: risks normally incidental to
exploration and development of mineral properties; uncertainties in
the interpretation of results from drilling and test work; the
possibility that future exploration, development or mining results
will not be consistent with expectations; regulatory and government
decisions; the possibility that future drawdowns under the loan
facilities may not be available; construction of the New Liberty
Gold Project being delayed and/ or over budget; economic
conditions; availability and cost of financing; estimates of
capital and operating costs and start-up costs; plans regarding
construction activities; and future unforeseen liabilities and
other factors including, but not limited to, those listed under
"Risk Factors" in the Company's Annual Information Form dated March
25, 2014, a copy of which is available on SEDAR at www.sedar.com,
and in the Aureus Mining Admission Document, a copy of which is
available at www.aureus-mining.com. Readers are cautioned not to
place undue reliance on forward-looking information as actual
results could differ materially from the plans, expectations,
estimates or intentions expressed in the forward-looking
information. Forward-looking information speaks only as of the date
on which it is made and, except as may be required by applicable
law, Aureus disclaims any obligation to update or modify such
forward-looking information, either as a result of new information,
future events or for any other reason.
Any mineral resource and mineral reserve figures referred to in
this press release are estimates and no assurances can be given
that the indicated levels of minerals will be produced. Such
estimates are expressions of judgment based on knowledge, mining
experience, analysis of drilling results and industry practices.
Valid estimates made at a given time may significantly change when
new information becomes available. While the Company believes that
the mineral resource and mineral reserve estimates in respect of
its properties are well established, by their nature mineral
resource and mineral reserve estimates are imprecise and depend, to
a certain extent, upon statistical inferences which may ultimately
prove unreliable. If such mineral resource and mineral reserve
estimates are inaccurate or are reduced in the future, this could
have a material adverse impact on the Company. Due to the
uncertainty that may be attached to inferred mineral resources, it
cannot be assumed that all or any part of an inferred mineral
resource will be upgraded to an indicated or measured mineral
resource as a result of continued exploration. Mineral resources
that are not mineral reserves do not have demonstrated economic
viability.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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