Share Issuance

RNS Number : 8617Y

Amur Minerals Corporation

10 September 2009

 



10 September 2009

AMUR MINERALS CORPORATION

(AIM: AMC)

SHARE ISSUANCE

Amur Minerals Corporation ('Amur' or the 'Company') an exploration and mineral resource development company focused on East Russia announces that it has issued 2,450,787 ordinary shares for a combination of accrued commission fees and shares for service fees.

By issuance of shares in lieu of fees, Amur continues to conserve the funds raised in the previous two placings that were undertaken in August 2009. Of the total number issued, 1,840,493 ordinary shares have been issued for professional services ('Service Shares') and the remaining 610,294 have been issued to cover fees relating to previous placing agreements ('Commission Shares').

Following the admission of the Service Shares and Commission Shares to trading on AIM, the Company will have 171,019,582 shares in issue.

Application will be made to the London Stock Exchange for the Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence on 16 September 2009. The Shares will, when issued, rank pari passu in all respects with the Company's existing shares, including the right to receive any dividend or other distribution thereafter declared, made or paid.

Enquiries: 

Company Amur Minerals Corp.	Nomad and Broker RBC Capital Markets	Public Relations Lothbury Financial
Robin Young	Martin Eales	Michael Padley
CEO		Libby Moss
[phone]	[phone]	[phone]

Notes to Editors

Amur Minerals Corporation is a mineral resource development company focused on base metal projects located in the far east of Russia where it has three projects. Its recent JORC compliant resource estimate for its flagship Kun-Manie project is 341,000 tonnes of contained nickel and 95,500 tonnes of copper and this is expected to increase as further exploration is completed. This resource, which has been identified and progressed in only 16 months of fieldwork is one of the largest nickel sulphide discoveries since Voisey's Bay.

An independently compiled pre-feasibility study of Kun-Manie conservatively indicates a Post Tax NPV (10%) of $84 million with an IRR of 15.7%. The study contemplates producing 16,000 tonnes of nickel per year in concentrate from three deposits drilled to date on the Kun-Manie license as well as noting considerable upside potential.

For further information about Amur, please visit the Company's website at www.amurminerals.com.

 

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