TSX : AUE
AIM : AUE
TORONTO, May 14, 2012 /CNW/ - "The Board of Aureus Mining Inc. announces the release of the Unaudited Condensed Interim Consolidated Financial Statements of the Company for the quarter ended, March 31, 2012 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.aureus-mining.com or at www.sedar.com."
About Aureus Mining
The Company's assets include the New Liberty gold deposit in Liberia (the "New Liberty Gold Project"), which has an estimated Reserve of 873,000 ounces of gold grading 3.1 g/t and an estimated Measured and Indicated Mineral Resource of 1,086,000 ounces of gold grading 3.6 g/t and an estimated Inferred Mineral Resource of 483,000 ounces of gold grading 3.5 g/t. A technical update for the New Liberty gold project was released in February 2012, derisking and building on the robust PEA, filed in December 2010. The project is expected to have an eight year mine life and annual production of 123,000 ounces for the first four years.
The New Liberty Gold Project is located within the Bea Mountain mining license which covers 457 km² and has a 25 year, renewable, mineral development agreement. The Bea Mountain mining license also hosts the proximal gold targets of Ndablama, Gondoja and Weaju, which are the focus of exploration programs during 2012. The contiguous Archaen Gold exploration licence is also a focus of exploration for 2012, with Leopard Rock being the main target.
The Company also has gold assets within exploration properties in Cameroon, where target generative work is underway.
Aureus Mining Inc.
David Reading / Jeremy Cave
Tel: +44(0) 20 7257 2930
Bobby Morse / James Strong
Tel: +44(0) 20 7466 5000
RBC Capital Markets (Nominated Advisor and Joint Broker)
Martin Eales / Richard Hughes
Tel: +44(0) 20 7653 4000
GMP Securities Europe LLP (Joint Broker)
Richard Greenfield / Alexandra Carse
Tel: +44(0) 20 7647 2800