MOE Moto Goldmines

 

TIDMMOE 
 
RNS Number : 0007T 
Moto Goldmines Limited 
29 May 2009 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
"Not for dissemination in the United States or through any US newswire service" 
 
 
 
 
NEWS RELEASE 
 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
                     TSX Code - MGL 
MAY 28, 2009  AIM Code - MOE 
 
 
MOTO ANNOUNCES COMPLETION OF THE TRANSFER OF EXPLOITATION PERMITS 
 
 
 
 
PERTH, WESTERN AUSTRALIA - Moto Goldmines Limited ("Moto") is pleased to 
announce the completion of the transfer of relevant portions of the ten 
exploitation permits covering the area of the Moto Gold Project (the "Project 
Area") from l'Office des Mines d'Or de Kilo-Moto ("Okimo") to the joint venture 
company Kibali Goldmines s.p.r.l (formerly Borgakim Mining s.p.r.l) ("Kibali"). 
During the registration process, the Project Area was revised from 2,143 to 
2,161 carrés (approximately 1,836 sq km) to take into account the requirement 
for the transfer of whole carrés as required by the DRC Mining Code. The 
Exploitation Permits for the Project Area will be held directly by and for the 
benefit of Kibali. 
 
 
As agreed in the joint venture agreement, Kibali will apply to transfer to Okimo 
the specific exploitation rights to mine certain historic tailings within the 
Project Area. 
 
 
Okimo has been issued shares in Kibali representing 30 per cent. of the issued 
share capital and Moto is making payment of the pas de porte of US$ 4.5 million. 
 
 
 
 
For further information in respect of the Company's activities, please contact: 
 
 
+-----------------------------------------+--------------------------------------+ 
| Andrew Dinning                          | Mark Arnesen                         | 
+-----------------------------------------+--------------------------------------+ 
| President and Chief Operating Officer   | Financial Director and Chief         | 
|                                         | Financial Officer                    | 
+-----------------------------------------+--------------------------------------+ 
| Tel: +61 8 9273 4222                    | Tel: +61 8 9273 4222                 | 
+-----------------------------------------+--------------------------------------+ 
| email: adinning@motogoldmines.com       | email: marnesen@motogoldmines.com    | 
+-----------------------------------------+--------------------------------------+ 
Moto Goldmines Limited website: www.motogoldmines.com 
+-----------------------------------------+--------------------------------------+ 
| Nominated advisor for the purposes of   | RFC Corporate Finance Ltd            | 
| AIM:                                    | Steve Allen                          | 
|                                         | Tel: +61 8 9480 2508                 | 
|                                         | email: Steve.Allen@rfc.com.au        | 
+-----------------------------------------+--------------------------------------+ 
| AIM Broker                              | GMP Securities Europe LLP            | 
|                                         | James Hannon                         | 
|                                         | Tel: +44 207 647 2803                | 
|                                         | email: james.hannon@gmpeurope.com    | 
+-----------------------------------------+--------------------------------------+ 
 
 
 
 
Caution Regarding Forward-Looking Statements: Certain statements contained in 
this announcement that are not historical facts constitute "forward-looking 
statements", including but not limited to those statements with respect to the 
Company's plans for debt financing of the Project and with respect to the 
development of mineral deposits, the price of mineral commodities and the 
Company's financial resources. There can be no assurance that debt financing for 
the Project will be made available on terms that are acceptable to the Company 
or at all that  the Moto Gold Project will be successfully developed, that any 
mineralisation previously disclosed in respect of the Moto Gold Project will be 
proven to be economic, that anticipated metallurgical recoveries will be 
achieved, that future evaluation work will confirm the viability of deposits 
identified in the Project or that future required regulatory approvals will be 
obtained. 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCALMATMMJTMRL 
 

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