TIDMHRM
HARMONY
PRESS RELEASE
Harmony expands Papua New Guinea exploration portfolio
Johannesburg. Thursday, 27 August 2009. Harmony Gold Mining Company Limited
(Harmony) is pleased to advise that it has acquired two new exploration
projects, the Amanab and the Mt Hagen Projects, in Papua New Guinea (PNG).
These exploration licenses (EL) complement the exploration activities
undertaken by Harmony and underscore the company's commitment and belief in the
developing minerals industry in PNG.
Amanab Project EL1708
Amanab project EL1708 was granted on 6 July 2009 and comprises of about 863
square kilometres of tenure. The tenement is located approximately 160km north
of the OK Tedi copper-gold mine in the Sandaun Province and was pegged to
target the bedrock source of the alluvial goldfield centered on the Yup River.
Mt Hagen Project EL1611 & EL1596
The Mt Hagen project comprises two contiguous tenements encompassing
approximately 1100 square kilometres of tenure. The tenements are located
approximately 20km north-northeast of Mt Hagen and are readily accessible via
the Highlands Highway connecting Lae and Porgera.
Harmony acquired 100% of the mineral rights for EL1596 from Frontier Resources
for the cash consideration of A$300,000.
Harmony also acquired the rights to explore the adjacent tenement EL1611 over a
four year period, with the condition that Harmony's exploration program meets
the minimum annual expenditure commitment. At any time during this period
Harmony may exercise an option to purchase 100% of the tenement for a total
cash consideration of 6 million Kina.
ends
Issued by Harmony Gold Mining Company Limited
27 August 2009
For more details contact:
Graham Briggs
Chief Executive Officer
on +27(0)83 265 0274
or
Marian van der Walt
Executive: Corporate and Investor Relations
on +27 (0)82 888 1242
Corporate Office:
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
www.harmony.co.za
JSE: HAR HAR
NYSE: HMY
NASDAQ: HMY
ISIN No.: ZAE000015228
END
|