AAAM African Aura

 

TIDMAAAM 
 
RNS Number : 5258K 
African Aura Mining Inc. 
21 April 2010 
 

 
 
 
 
 NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE 
                                    SERVICES. 
 
21 April, 2010 
 
TSX-V:   AUR 
AIM:       AAAM 
                            African Aura Mining Inc. 
                        ("African Aura" or the "Company") 
 
                      PUBLICATION OF YEAR END 2009 ACCOUNTS 
 
The Board of African Aura Mining Inc. (TSX-V: AUR; AIM: AAAM) is pleased to 
release the Accounts of the Company for the financial year ended December 31st 
2009, which should be read in conjunction with the accompanying Management 
Discussion and Analysis. These documents have been filed on Sedar and are 
available on the Company's website (www.african-aura.com) or at  www.sedar.com. 
 
 On behalf of the Board of African Aura. 
 
 Luis da Silva 
President and CEO 
 
 
 
Chairman's Statement 
 
In a changing world, it is our belief that only by being proactive can you keep 
ahead in these turbulent times. We achieved this in 2009, emerging at the end of 
the year as a completely different company. The acquisition of African Aura 
Resources Ltd , the share consolidation and name change, the successful listing 
of Stellar Diamonds in the new year and the success in the field have changed 
the face of our Company. The commitment of our iron ore joint venture partner, 
Severstal Resources, has also bolstered the Company. 
 
With the merger came a new Board with a commitment to good corporate governance 
and a drive to continue our proactive approach to developing the business. The 
Company has effectively been split into two operating divisions, iron ore and 
gold with a push to bring both of our flagship projects, New Liberty Gold Mine 
and Putu Iron Ore Project, in Liberia into production as quickly as possible. 
The target for New Liberty is to have an updated definitive feasibility study 
completed by quarter two, 2011 with production aiming for 2012. Putu, because of 
the sheer size of the project will take longer to develop with first production 
later in 2016. 
 
As I am writing this statement we have just closed a successful financing which 
was significantly oversubscribed, bringing approximately US$17.5 million 
(GBP11.3 million) in gross proceeds into the Company's treasury. These funds 
will be prioritised to take New Liberty forward to a definitive feasibility 
study, explore the exciting Nkout Iron Ore prospect in the Cameroon, deliver a 
NI 43-101 compliant resource for the Weaju gold deposit in Liberia and provide 
working capital to cover our corporate overheads. 
 
 Sustainable development, protection of the environment and corporate social 
responsibility are buzzwords for many but for us they are core values. We are 
working closely with governments and local agencies to ensure that we can make a 
difference to the lives of the local communities where we are working. The 
President of Liberia, Ellen Johnson Sirleaf, recently visited the Putu project 
in recognition of the work that has been conducted there not just in mining 
development but also in working with the local communities. In addition we 
provide tangible help to these communities by providing jobs, sourcing our 
supplies locally wherever possible, contributing to education and health 
initiatives, and by undertaking infrastructure projects such as road and bridge 
development. 
 
On behalf of the Board of Directors, I would like to thank our shareholders for 
their loyal support during the year and welcome onboard the African Aura 
Resources shareholders. I would also like to thank our Directors, employees and 
other stakeholders for their hard work and accomplishments during 2009. 
 
Our current share price does not reflect the potential value of our gold and 
iron ore assets and this has been confirmed by independent valuations in recent 
months. The aim of the Board is to significantly increase shareholder value and 
we will continue to work proactively together towards this goal. All in all we 
can look forward to 2010 being a very exciting year. 
 
 
David Netherway 
Chairman 
 
 
 
 For further information on African Aura and its exploration programme, 
you are invited to visit the Company's website at www.african-aura.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 
Simon Edwards / Chris Sim / Neil Elliot                     Tel: +44 (0) 20 7071 
4300 
 
Pelham Bell Pottinger 
Charles Vivian / James MacFarlane                           Tel: +44 (0) 20 7337 
1500 
 
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 
 
 MSCDXGDSBSDBGGG 
 

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