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October 26, 2009
TSX-V: AUR
AIM: AAAM
AFRICAN AURA FILES 43-101 TECHNICAL REPORT ON PUTU ORE PROJECT
October 26, 2009 African Aura Mining Inc. ("African Aura" or the "Company" ("TSX-V") and (AIM: AAAM) listed exploration to production company focused on gold and iron ore in sub-Saharan Africa, announces the filing a technical report pursuant to National Instrument 43 101, relating to the 1.08 billion tonne at 37.6% total iron mineral resource estimate for the Putu iron ore project in 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. The previously announced highlights of the Putu project are as follows:
Highlights of Putu iron ore project:
• Independant Mineral Resource of 1.08 billion tonnes of iron ore at 37.6% total iron (Fe) at Putu in Liberia
• Mineral Resource covers only a 2.6km section of 12km ridge
• Potential for the Putu resource to grow as exploration programme advances
• Best drill results to date of 91m at 61.3% Fe oxidised BIF haematite and 232m at 40.8% Fe magnetite
• 61.5% project partner Severstal Resources investing US$30m and working with the Company towards a Pre-Feasibility Study during 2010
About African Aura Mining Inc.
African Aura is an established African exploration and development company with a primary listing on the TSX-V (AUR) and a secondary listing on London's AIM (AAAM). African Aura is focused on the development of world-class iron ore and gold deposits in highly prospective, under explored countries of sub-Saharan Africa. The Company has a highly motivated and experienced team with a record of discovering mines and taking projects through development and into production in African.
African Aura's assets include the New Liberty gold deposit and the Putu iron ore project, both in Liberia. Putu is being explored and operated by the Company's Joint Venture partner, Severstal Resources (the mining division of OAO Severstal). Severstal Resources is one of the largest mining companies in Russia with EBITDA in 2008 of US$859 million. The Company also has a 59% interest in diamond producer Stellar Diamonds Ltd. A pioneer in Africa, 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:
African Aura Mining Inc.
Luis da Silva, President & CEO
Tel: +44 (0) 20 7299 4212
Evolution Securities Limited
Simon Edwards / Chris Sim / Neil Elliot
Tel: +44 (0) 20 7071 4300
Pelham Public Relations
Charles Vivian / James MacFarlane
Tel: +44 (0) 20 7337 1500
Qualified Person
The information in this press release relating to Mineral Resources is based on information compiled under the direction of Mr Howard Baker (BSc, MSc, MAusIMM) who is a Member of the Australasian institute of Mining and Metallurgy. Mr Baker has worked on the major iron ore deposits of West Africa, namely Rio Tinto's Simandou in Guinea, African Minerals' Tonkolili in Sierra Leone and first visited Putu in 2007.
Mr Baker is a full time employee of SRK and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person (QP) as defined in the "Canadian Institute of Mining, Metallurgy and Petroleum, CIM standards on Mineral Resources and Reserves 2000 Edition' and NI43-101. Mr Howard Baker has reviewed this press release and consents to the inclusion in the press release of the matters based on his information in the form and context in which this appears.
For exploration work, Charles Savage (BSc, CEng, ARSM, MIME), a consultant to the Company, is the appointed Qualified Person responsible for reviewing and approving the content of this release. He is a Mining Engineer with over 40 years experience in exploration, development and operations in the iron ore, base metals and industrial minerals areas, throughout the world.
Quality Control and Sample Preparation
African Aura has a rigorous Quality Control Program (QCP) inserting a minimum 5% of standards, blanks and duplicates into the sample stream. The Company employs independently owned and managed OMAC Laboratories for all its assay requirements, including the preparation of pulps to 90% -100 micron at their in-country preparation facilities in Liberia, followed by XRF at their main laboratory in Loughrea, Ireland.
OMAC is accredited to ISO 17025 by INAB (Irish National Accreditation Board) which is a member of ILAC (International Laboratory Accreditation Cooperation), and is a signatory to the ILAC Mutual Recognition Arrangement. OMAC operates an internal QA/QC check assay programme using in-house standards, reagent blanks and duplicates.
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.
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