Aflease - Exploration update
Aflease Gold and Uranium Resources Limited
(Formerly The Afrikander Lease Limited)
(Incorporated in the Republic of South Africa)
AFL (JSE) AFKDY (NASDAQ)
(Registration number 1921/006955/06)
ISIN: ZAE000061461 Share Code : AFL
("Aflease" or "the company")
Aflease: Exploration update
Further to the report on exploration contained in the strategic update published
on 16th August 2005, Aflease Gold and Uranium Resources is pleased to announce
that it has had applications accepted by government for prospecting rights for
gold and uranium in a number of promising locations in South Africa.
Aflease CEO Neal Froneman says that applications for a total area of over 500
000ha have been accepted by the Department of Minerals and Energy.
This includes 403 000ha in the Karoo, with extensive areas near Beaufort West,
as well as 80 000ha in the Springbok Flats.
The aim of the aggressive exploration program is to both expand the footprint of
the company"s existing portfolio of properties near Klerksdorp, and to explore
in new locations where Aflease can expand its mining activities.
Says Neal Froneman:
"There have been many questions about the new mining legislation in South
Africa, but we have put the system to the test and have found that it does work.
"The overwhelming majority of our applications have been accepted, with some
already granted, as we continue to build up a portfolio of exciting exploration
projects.
"Once we have all the prospecting rights we need in each location, we will move
forward with an exploration program, and we will shortly be raising the funds to
move our dreams of firming up viable new deposits towards reality."
The company has a dedicated team which is involved in ensuring that Aflease
remains closely in touch with government, to ensure the company"s applications
are processed efficiently and in good time, and that all supplementary
information which is required is provided on request.
Says Neal Froneman:
"As a proudly South African company, with a sound technical and commercial
capability, we are well placed to develop these strategic South African
resources."
Contact: John Fraser 082 331 7330
Carol Smith 082 338 2228
Date: 20/10/2005 10:23:51 AM Produced by the JSE SENS Department
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