African Aura Mining Inc.
UPDATE ON PROPOSED SPLIT INTO SEPARATE IRON AND GOLD COMPANIES
February 28, 2011, African Aura Mining Inc. (“African Aura” or the “Company”), the TSX-V (AUR) and AIM (AAAM) listed exploration and development company with divisions focused on iron ore and gold projects in sub-Saharan Africa, announces that, further to its press release dated November 5, 2010, it has entered into an arrangement agreement (the “Arrangement Agreement”) with Aureus Mining Inc. (“Aureus Mining”) to complete a restructuring of its assets by way of a court and shareholder approved plan of arrangement (the “Arrangement”).
Certain key points relating to the Arrangement:
· African Aura Mining Inc. to be renamed Afferro Mining Inc. to develop the iron portfolio
· Aureus Mining Inc. to develop the gold portfolio
· EGM scheduled to take place on 5th April 2011
· Effective date of the Arrangement expected to be 13th April 2011
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