Mar. 1, 2011 (Canada NewsWire Group) --
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES/
TSX-V: AUR
AIM: AAAM
LONDON, March 1 /CNW/ - African Aura Mining Inc. ("African Aura" or the "Company") the TSX-V (AUR) and AIM (AAAM) listed exploration and development company with divisions focused on iron ore and gold in sub-Saharan Africa, announces the simultaneous filings of Mineral Resource Estimates pursuant to National Instrument 43-101, relating to the Company's 100% owned Nkout iron ore project located in southern Cameroon and its 38.5% Putu project in eastern Liberia.
With this news release, the Company is reporting the filing as required under the National Instrument 51-101. A copy of the document may be obtained via www.sedar.com and on the Company's corporate website www.african-aura.com.
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 continuing company will retain the iron ore assets and will be renamed "Afferro Mining Inc.". Projects include 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.
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.
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