Moku Goldmines AG
Moku Goldmines AG: SMB received mining exploitation licenses from SOKIMO
Moku Goldmines AG / Key word(s): Regulatory Approval Basel, 08th September 2011 SMB received mining exploitation licenses from SOKIMO Further to the announcement made by Moku Goldmines AG (‘Moku’) on 8 August 2011, that it has set up together with SOKIMO (the DRC state-owned mining company) a joint venture company – Societe Miniere de Moku – Beverendi (‘SMB’), held 35% by SOKIMO and 65% by Moku, Moku is pleased to announce that the process of transferring the two sets of mining exploitation licenses from SOKIMO to SMB, has been completed and that SMB currently holds the rights in these licenses. The licenses transferred adjoin one of Africa’s largest undeveloped gold projects, covering the extensions of gold anomalies from the world class 20 mill oz Kibali Gold project which Randgold and AngloGold Ashanti are currently developing in the northeastern Democratic Republic of Congo. The two license areas, Moku (713 sq km) and Beverendi (555 sq km), so far have shown similar geological setting and structural controls to Kibali, with excellent potential to discover large scale gold deposits. Several historic mines are located throughout the project areas. The licenses cover both exploration and exploitation of gold resources in the target area and are valid until 11 May 2014, and can be renewed for a minimum period of 15 years at a time and not more than 30 years at a time pursuant to the provisions of the Mining code of DRC or for the lifetime of the project. Disclaimer This press release has been prepared by Moku Goldmines AG solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for or purchase any securities regarding Moku Goldmines AG. This press release may contain specific forward-looking statements, e.g. statements which include terms like ‘believe’, ‘assume’, ‘expect’ or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, the financial situation, and/or the development or performance of the company and those explicitly or implicitly presumed in these statements. These factors include (1) general market, macro-economic, governmental and regulatory trends, (2) the risk that exploration and/or exploitation efforts will prove to be unsuccessful (including in the event that gold will not be found in commercial quantities and (3) other risks and uncertainties inherent in our business. Moku Goldmines Ltd is not under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. These press releases / Research/ analysis / content of the website may not be accessed directly or indirectly in the U.S., Canada, Japan and Australia, to U.S. citizens or persons resident in the named countries, yet brought in their territory transmitted, or distributed. Persons into whose possession this document comes should inform themselves about possible legal restrictions on the dissemination of such research and comply with them. Any failure to comply with this restriction may constitute a violation of U.S., Japanese, Australian or Canadian securities laws or the laws of another jurisdiction. End of Corporate News 08.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
138666 08.09.2011 |