| Mon 5 Nov 2007, 9:05 | | AFO - Aflease Gold - Aflease Gold Appoints Izak Ma |
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AFO
AFO
AFO - Aflease Gold - Aflease Gold Appoints Izak Marais as COO
AFLEASE GOLD LIMITED
(Formerly Sub Nigel Gold Mining Company Limited)
Incorporated in the Republic of South Africa
(Registration number: 1984/006179/08)
Share code: AFO (JSE) AFSGY - International PrimeQX (OTCQX)
ISIN: ZAE000075867
("Aflease Gold")
November 2, 2007
Aflease Gold Appoints Izak Marais as COO
Johannesburg, South Africa - Aflease Gold Limited ("Aflease Gold") is pleased to
announce the appointment of Izak Marais as Chief Operating Officer effective 12
November 2007. Along with the responsibility of managing the development of the
Modder East Gold Project, Marais will also oversee the exploration, evaluation
and advancement of the Company`s other gold projects.
Neal Froneman, President and Chief Executive Officer of Aflease Gold commented:
"I have had the pleasure of working with Izak previously and I know he will add
value with his extensive experience and great leadership skills. I am pleased
to have someone of Izak`s calibre join the Aflease Gold team as we continue to
develop our high quality gold assets.."
Marais was most recently Chief Executive Officer of Sallies Limited ("Sallies"),
a JSE-listed company with fluorspar operations in South Africa. He was
originally appointed Managing Director of its Witkop operation in 2003 and he
became the CEO of Sallies in October 2005. While at Sallies, Marais oversaw the
commissioning of a new mining operation and recruited a full management team.
He was also responsible for identifying the acquisition and the integration of
Buffalo Fluorspar Mine (Pty) Ltd. into the company.
From 2000 to 2003, Marais worked for Gold Fields Limited in corporate head
office for a year and subsequently as Manager of Operations for the Number Four
Shaft at Kloof. While serving as Manager of Operations, he was responsible for
the successful ramp-up of underground production.
He has also worked as Underground Manager at Oryx Gold Mine, where he led the
development and full-scale production from two vertical shafts.
Marais has a B.Sc. Engineering (Mining) from the University of Pretoria (1991),
a Mine Managers and Mine Overseers Certificate of Competency (1994) and an MBA
from the University of Cape Town (1999).
About Aflease Gold
Aflease Gold is a South African gold resource company listed on the JSE Limited
(the Johannesburg stock exchange). The Company owns the Modder East Gold
Project, currently under construction, as well as the Sub Nigel, New
Kleinfontein, Turnbridge and the Holfontein gold projects, all on the East Rand;
the Ventersburg Gold Project in the Free State gold field; and the Etendeka Gold
Project in Namibia. Aflease Gold was formed in January 2006 through the reverse
takeover of Sub Nigel Gold Mining Company by New Kleinfontein Mining Company, a
wholly owned subsidiary of Uranium One Inc. The Company is currently
approximately 64% owned by Uranium One and has a market capitalisation in excess
of ZAR 1.7 billion.
For further information, please contact:
Neal Froneman Pierre Kruger
Chief Executive Officer Company Secretary
Tel +27 11 482 3605 Tel + 27 11 814 4290
Cautionary Statement
This News Release includes certain "forward-looking statements" and "forward-
looking information". All statements other than statements of historical fact
included in this release including, without limitation, statements regarding
future plans and objectives of Aflease Gold are forward-looking statements (or
forward-looking information) that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such
statements. Important factors could cause actual results to differ materially
from Aflease Gold`s expectations. Such factors include, among others, the actual
results of exploration activities, actual results of reclamation activities, the
estimation or realization of mineral reserves and resources, the timing and
amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits, availability
of capital required to place Aflease Gold`s properties into production,
conclusions of economic evaluations, changes in project parameters as plans
continue to be refined, future prices of gold and other commodities, possible
variations in ore grade or recovery rates, failure of plant, equipment or
processes to operate as anticipated, accidents, labour disputes and other risks
of the mining industry, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction activities,
Aflease Gold`s hedging practices, currency fluctuations, title disputes or
claims limitations on insurance coverage, Although Aflease Gold has attempted to
identify important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be as anticipated,
estimated or intended.
There can be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Aflease Gold does not undertake to update any
forward-looking statements that are included herein, except in accordance with
applicable securities laws.
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
For more information on Aflease Gold, please visit www.afleasegold.com
Date: 05/11/2007 09:05:01 Produced by the JSE SENS Department.
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