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African Aura Mining calls ex-European Goldfields CEO David Reading to the board

|Includes: Randgold Resources Limited (GOLD)

African Aura Mining Inc (LON:AAAM, TSX‑V:AUR), the exploration and development company focused on gold and iron ore in sub-Saharan Africa, has appointed David Reading as a non-executive director to the board with immediate effect.

He is the former CEO of European Goldfields (LON:EGU, TSX:EGU) and the former general manager of African exploration for Randgold Resources's (LON:RRS, NYSE:GOLD). In addition he has held senior exploration and project development positions for Anglo American (LON:AAL)and Phelps Dodge.

Reading has over 35 years' experience across the fields of exploration, feasibility, project development and mining.

African Aura chairman David Netherway said: "We are pleased to welcome David to the Board of Directors. His proven track record in the exploration and development of substantial gold projects will be invaluable to African Aura as we move the New Liberty Gold project in Liberia towards production. David's expertise will complement the existing skills of the board and be valuable in maximising the potential of New Liberty as well as identifying and developing value creating growth opportunities in West Africa for our gold division."

African Aura operates two divisions, namely iron ore and gold.

The company holds a 38.5% stake in the Putu iron ore project, whose pre-feasibility study is managed by JV partner Severstal Resources.

Severstal is investing US$30 million toward completion of the study, which is anticipated in 2012, for a 61.5% interest in the project.

In 2010 Putu was granted a 25 year renewable mineral development agreement by the government of Liberia.
African Aura’s iron ore division also holds a 100 percent interest in the Nkout iron ore project and surrounding iron targets in Cameroon which is subject to a resource definition drilling programme.

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 Ndablama, Weaju, Silver Hills and Gondoja gold projects all within the African Aura’s Bea Mountain 25 year renewable mineral development agreement.

In addition, the company presently has a 30 percent interest in AIM-listed diamond producer Stellar Diamonds (LON: STEL).



Disclosure: No positions