Option Agreement re Andash

RNS Number : 0264O

Aurum Mining PLC

22 June 2010

 



For Immediate release

22 June 2010

AURUM MINING PLC

("Aurum" or "the Company")

10% Andash disposal update

Aurum Mining plc (AIM: AUR) is pleased to announce that it, together with a subsidiary (the 'Aurum Group'), has entered into an option agreement with Kentor Gold Limited and a subsidiary ('Kentor') under which Kentor has a nine month exclusive option to acquire the Aurum Group's remaining 10% stake in the Andash project in the Kyrgyz Republic for US$1.8m ('the sale price').  Kentor also has the right to extend the option for an additional six months for a payment to the Aurum Group of US$150,000 which would be deducted from the sale price in the event that Kentor exercises its option.

In return for the granting of the option, Kentor will release Aurum from all the warranties and indemnities given by Aurum to Kentor in October 2009 when Aurum agreed to dispose of an 80% stake in the Andash project.

For further information:

Aurum Mining plc	Tel: [phone]
Mark Jones, Chief Executive Chris Eadie, Chief Financial Officer
Arbuthnot Securities	Tel: [phone]
Richard Johnson

 

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