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AFO
AFO
Aflease Gold Limited - Three additional prospecting rights granted
Aflease Gold Limited (Formerly Sub Nigel Gold Mining Company Ltd)
(Incorporated in the Republic of South Africa)
Share Code : AFO (JSE)
(Registration number 1984/006179/08)
ISIN: ZAE000075867
("Aflease Gold" or "the Company")
Three additional prospecting rights granted
Johannesburg: Aflease Gold today announced that three additional prospecting
rights for properties in the East Rand have been granted in terms of Section 17
of the Minerals and Petroleum Resources Development Act, Act 28 of 2002.
The new rights, which will enable the company to step up its exploration
programme, are as follows.
The Holfontein prospecting right covering the Farm Holfontein 71 IR in the
Magisterial District of Springs (2180.5 hectares)
The Turnbridge prospecting right covering various portions of the Farm
Rietfontein 115 IR, the remaining extent of the Farm Benoni 77 IR and the
remaining extent of portion 1 and 82 of the Farm Kleinfontein 67 IR in the
Magisterial district of Brakpan and Benoni (1315.5 hectares)
The Sub Nigel area 6 prospecting right covering various portions of the Farms
Zonnestraal 163 IR, Withok 131 IR, Spaarwater 171 IR, Vlakfontein 161 IR and
Tsakane 260 IR in the Magisterial district of Nigel (3860.5 hectares)
These 3 prospecting rights add to the existing Sub Nigel area 4 and 5
prospecting right, also in the East Rand.
In total all 4 prospecting rights secure Aflease Gold an area of 10 000 hectares
in the East Rand to undertake prospecting activities over the next 5 years.
In addition to the prospecting rights in South Africa, Aflease Gold also has an
exclusive prospecting licence for 65 000 hectares in Namibia.
It is anticipated that by the end of May 2006 Aflease Gold will have been
granted the Sub Nigel Area 1,2 and 3 mining right in the East Rand and the
Ventersburg prospecting right in the Free State.
Said Aflease Gold CEO Neal Froneman:
"We have a dedicated team of experts which is busy securing all the necessary
rights to enable us to fully assess the potential of all our properties on the
East Rand basin and elsewhere. I have said before that I believe there are
important gold deposits which were not mined in the first wave of activity in
the bountiful region of the East Rand Basin, and we are now in a position to
move forward with further exploration."
The deposits targeted by Aflease Gold are near-to-surface, high margin gold
reserves, similar to those at Modder East.
Aflease Gold was created in January 2006 through the reverse takeover of Sub
Nigel Limited by the New Kleinfontein Mining Company Limited, itself a 79%-owned
subsidiary of TSX and JSE listed sxr Uranium One.
Contact: Neal Froneman 083 628 0226
John Fraser 082 331 7330
Carol Smith 082 338 2228
Date: 09/05/2006 04:00:08 PM Produced by the JSE SENS Department
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