AAAM African Aura

 

TIDMAAAM 
 
RNS Number : 5909K 
African Aura Mining Inc. 
22 April 2010 
 

 
 
 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO 
                 OR FROM THE UNITED STATES, JAPAN OR AUSTRALIA. 
 
April 22, 2010 
 
TSX-V:   AUR 
AIM:       AAAM 
                            African Aura Mining Inc. 
 
              TSX VENTURE EXCHANGE CONDITIONAL APPROVAL OF PLACING 
 
April 22, 2010, African Aura Mining Inc. ("African Aura" or the "Company")the 
TSX-V (AUR) and AIM (AAAM) listed exploration and development company focusing 
on iron ore and gold in sub-Saharan Africa, is pleased to announce that, further 
to the Company's news release dated April 21, 2010, the Company has received TSX 
Venture Exchange conditional approval for and closed its private placement of 
17,398,770 common shares in the capital of the Company at 65 pence per share (c. 
C$1.01), to raise aggregate gross proceeds of approximately GBP11.3 million (c. 
C$17.5 million). 
 
In consideration for its services as agent in connection with the private 
placement, the Company has agreed to pay Evolution Securities Limited a cash 
commission equal to 5% of the gross proceeds of the private placement (excluding 
subscribers on the Chairman's List). 
 
Certain of the shares issued in the private placement, including those placed to 
insiders of the Company, are subject to a hold period and may not be traded in 
Canada until August 23, 2010, except as permitted by applicable Canadian 
securities laws and the TSX Venture Exchange. 
 
Restricted Jurisdiction 
The new Common Shares have not been, and will not be, registered under the 
United States Securities Act of 1933, as amended (the "Securities Act"), and, 
may not be offered, sold or delivered, directly or indirectly, in the United 
States or to or for the account or benefit of any U.S. person unless the 
securities are registered under the Securities Act or an exemption from the 
registration requirements of the Securities Act is available. 
 
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, namely 
iron ore and gold: 
 
·     The iron ore division includes its 38.5% interest in the Putu iron ore 
project in Liberia (1.08 billion tonnes of iron ore at 37.6% total iron, from 
drilling on less than 25% of the Putu ridge) in Liberia which is moving through 
pre-feasibility managed by its joint venture partner Severstal Resources (the 
mining division of Moscow listed OAO Severstal). The division also includes a 
100% interest in the Nkout iron ore project and surrounding iron targets in 
Cameroon. 
 
·     The gold division includes the multi million ounce potential New Liberty 
greenstone gold deposit, which is being advanced through a bankable feasibility 
study and the proximal Weaju, Gondoja and Silver Hills projects, all in western 
Liberia. 
 
·     In addition, the Company has a 31.8% 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: 
 
For further information, please contact: 
 
African Aura Mining Inc. 
Luis da Silva, President & CEO                                 Tel: +44 (0) 20 
7257 2930 
 
Evolution Securities Limited 
Simon Edwards / Tim Redfern / Neil Elliot                 Tel: +44 (0) 20 7071 
4300 
 
Pelham Bell Pottinger 
Charles Vivian / James MacFarlane                           Tel: +44 (0) 20 7337 
1500 
 
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS 
ANNOUNCEMENT. 
 
Qualified Person 
African Aura's Qualified Person responsible for preparing this release is Dr Tom 
Elder, who holds a BSc and Doctorate in Geology from the University of Durham in 
the UK, is a Fellow and former Member of Council of the Institution of Mining 
and Metallurgy, and a Fellow of the Geological Society. 
 
The iron mineral resource estimate included in this news release was previously 
disclosed in the technical report entitled "Mineral Resource Estimate for the 
Putu Iron Ore Project" dated August 2009 (the "Putu Technical Report") prepared 
by Howard Baker of SRK Consulting (UK) Ltd who is a "Qualified Person" as such 
term is defined in NI 43-101. The Putu Technical Report was filed on the 
company's SEDAR profile on August 10, 2009 and is available at www.sedar.com. 
 
The gold mineral resource estimate included in this news release was previously 
disclosed in the technical report entitled "Form 43-101F Technical Report on the 
New Liberty Gold Project, Liberia" dated October 24, 2006 (the "New Liberty 
Technical Report") prepared by Dexter Ferreira and Pierre Fourie of Lower 
Quartile Solutions (Pty) Ltd who are each a "Qualified Person" as such term is 
defined in NI 43-101. The New Liberty Technical Report was filed on the Company 
SEDAR profile on January 31, 2007 and is available at www.sedar.com. 
 
Forward-looking Statements 
This announcement 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 
disclaims any obligation to update or modify such forward-looking statements, 
either as a result of new information, future events or for any other reason. 
 
Although the Company has attempted to identify important factors that could 
cause actual actions, events or results to differ materially from those 
described in forward-looking information, there may be other factors that cause 
actions, events or results not to be as anticipated, estimated or intended. 
There can be no assurance that forward-looking information will prove to be 
accurate, as actual results and future events could differ materially from those 
anticipated in such information. Accordingly, readers should not place undue 
reliance on forward-looking information. The forward-looking information 
contained herein, unless stated otherwise, is made as of the date of this 
announcement being 22 April 2010 and the Company makes no responsibility to 
update them or to revise them to reflect new events or circumstances, except as 
required by law. 
 
Additional information about the risks and uncertainties of the Company's 
business is provided in its disclosure materials, including its Annual 
Information Form and the MD&A for the twelve months ended 31 December 2009, 
available under the Company's profile on SEDAR at www.sedar.com. 
 
The release, publication or distribution of this announcement in certain 
jurisdictions may be restricted by law and therefore persons in such 
jurisdictions into which this announcement is released, published or distributed 
should inform themselves about and observe such restrictions. 
 
Evolution Securities Limited, which is authorised and regulated in the United 
Kingdom by the Financial Services Authority, is acting as proposed placing agent 
to the Company and is acting for no-one else in connection with the Placing and 
will not be responsible to anyone other than the Company for providing the 
protections afforded to clients of Evolution Securities Limited nor for 
providing advice in connection with the Placing or any other matter referred to 
herein. Evolution Securities Limited has not authorised the contents of, or any 
part of, this announcement and no liability whatsoever is accepted by Evolution 
Securities Limited for the accuracy of any information or opinions contained in 
this announcement or for the omission of any information. 
 
Apart from the responsibilities and liabilities, if any, which may be imposed on 
Evolution Securities Limited by the Financial Services and Markets Act 2000, 
Evolution Securities Limited accept no responsibility whatsoever for the 
contents of this announcement, including its accuracy, completeness or 
verification or for any other statement made or purported to be made by it, or 
on its behalf, in connection with the Company, the Common Shares or the Placing. 
Evolution Securities Limited accordingly disclaim all and any liability (whether 
arising in tort, delict, under contract or otherwise) (save as referred to 
above), which they might otherwise have in respect of this announcement or such 
statement. 
 
This announcement does not constitute, or form part of, an offer to sell, or the 
solicitation of an offer to subscribe for or buy any of the new Common Shares to 
be issued in connection with the Placing. No public offering of securities of 
the Company will be made in connection with the Placing in the United Kingdom, 
the United States, Canada or elsewhere. The securities discussed herein have not 
been and will not be registered under the US Securities Act of 1933, as amended 
(the "US Securities Act") and may not be offered or sold in the United States 
absent registration or an exemption from registration under the US Securities 
Act. 
 
The Directors of the Company have taken all reasonable care to ensure that the 
information contained in this announcement is, to the best of their knowledge, 
in accordance with the facts and contains no omission likely to affect the 
import of such information. 
 
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 
 
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