AAAM African Aura

TIDMAAAM

RNS Number : 5394B

African Aura Mining Inc.

21 February 2011

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.

21 February 2011

TSX-V: AUR

AIM: AAAM

African Aura Mining Inc.

EXERCISE OF SHARE OPTIONS

21 February 2011, African Aura Mining Inc. ("African Aura" or the "Company") announces that pursuant to the exercise of share options the Company has applied for 229,125 new common shares in the Company ("Common Shares") to be admitted to trading on the London Stock Exchange's AIM market for listed securities ("Admission").

Admission is expected to become effective on 24 February 2011. The new Common Shares will rank pari passu with the Company's existing Common Shares.

Following admission of the new Common Shares, the total issued share capital of the Company will be 86,093,217 Common Shares, all of which have voting rights.

The above figure (86,093,217) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, African Aura Mining Inc.

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 that are intended to be split into separate listed companies becoming effective, subject to shareholder, regulatory and other approvals in April 2011:

- The iron ore division includes its 38.5% interest in the 2.4Bt Putu iron ore project in Liberia, which is subject to a resource expansion drilling programme and moving through pre-feasibility managed by joint venture partner Severstal Resources (the mining division of London and Moscow listed OAO Severstal). In September 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 1Bt iron ore project and surrounding iron targets in Cameroon which is subject to a resource expansion drilling programme.

- The gold assets, to be held in "Aureus Mining Inc." when listed independently, include the New Liberty gold deposit in western Liberia which has a resource of 1.51 million ounces of gold grading 3.78 g/t (comprising 5,599,000 tonnes grading 4.17 g/t in the indicated category and 7,040,000 tonnes grading 3.40 g/t in the inferred category) 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 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 7257 2930

Evolution Securities Limited

Rob Collins / Tim Redfern

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

LISLFFIVFLIIFIL

African Aura (LSE:AAAM)
Historical Stock Chart
From Apr 2024 to May 2024

African Aura (LSE:AAAM)
Historical Stock Chart
From May 2023 to May 2024