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Aflease Gold and Uranium Resources Limited - Court Sanctions Southern Cross
acquisition of Aflease
Aflease Gold and Uranium Resources Limited
(Formerly The Afrikander Lease Limited)
(Incorporated in the Republic of South Africa)
AFL (JSE) AFLUY (NASDAQ)
(Registration number 1921/006955/06)
ISIN: ZAE000061461 & Share Code: AFL
6th December 2005
Court Sanctions Southern Cross acquisition of Aflease
The High Court of South Africa today approved the acquisition of Aflease Gold
and Uranium Resources (Aflease) by TSX-listed Southern Cross Resources Inc.
(Southern Cross).
Southern Cross is acquiring all the issued shares of Aflease through a scheme of
arrangement.
The High Court approval follows near-unanimous support for the transaction at
meetings last month of shareholders of Aflease and of Southern Cross.
Southern Cross shareholders also voted in favour of changing the company"s name
to "sxr Uranium One".
Sxr Uranium One Inc now holds gold and uranium assets in South Africa, Canada,
and Australia, including the Australian uranium project, Honeymoon - one of the
few fully-permitted uranium projects in the Western World.
Sxr Uranium One will have its primary listing on the TSX and a secondary listing
on the JSE.
Aflease shares will be suspended from trading on the JSE at the commencement of
trade on 19th December, and shares in sxr Uranium One will be listed on the JSE
and will trade for the first time at commencement of trade on the same day.
Aflease CEO Neal Froneman, who will be the CEO and President of sxr Uranium One,
said:
"I am encouraged both by today"s approval by the High Court for this
transaction, and by the terrific backing which the transaction has received from
both Aflease and Southern Cross shareholders.
"We will enter 2006 with a global uranium company, with great assets in South
Africa, Canada and Australia, and I am heartened that we have the backing of
shareholders for the decision to create sxr Uranium One.
"This is a significant milestone for Aflease, and the birth of sxr Uranium One
signals our arrival on the world stage.
"Our strategy remains to bring the Dominion Reefs mine near Klerksdorp, South
Africa, into production in 2007, and to continue with exploration, to prepare
for the development of our other properties.
"The uranium and gold markets are very robust, and I am convinced we have a
number of very attractive assets, and that we are becoming a force to be
reckoned with on the global mining scene," concluded Mr Froneman.
Forward-looking statements
This announcement contains certain forward-looking statements. These forward-
looking statements are subject to a variety of risks and uncertainties which are
beyond Aflease"s ability to control or predict (including among others
regulatory and shareholder approval), which could cause actual events or results
to differ materially from those anticipated in such forward-looking statements.
In this announcement, predictions about the transactions being approved and
finalised are forward-looking statements. Readers should not place undue
reliance on forward-looking statements.
Notice to Investors
This announcement does not constitute an offer to sell or an invitation to
purchase or subscribe for any securities. The securities offered by way of
exchange pursuant to the transactions have not been and will not be registered
under the U.S. Securities Act of 1933, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements
Contacts : Neal Froneman +27 83 628 0226
John Fraser +27 82 331 7330
Don Falconer +1 416 350 3657
Date: 06/12/2005 12:25:47 PM Produced by the JSE SENS Department
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