| Thu 2 Nov 2006, 16:31 | | SXR - Aflease Gold appoints N M Rothschild as excl |
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SXR
SXR
SXR - Aflease Gold appoints N M Rothschild as exclusive financial adviser
sxr Uranium One Inc
(Formerly Southern Cross Resources Inc.)
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: SXR & ISIN: CA87112P1062
Share code on the TSX: SXR & ISIN: CA87112P1062
("Corporation")
sxr Uranium One Inc.
390 Bay Street, Suite 1610
Toronto, Ontario M5H 2Y2
Trading Symbol: SXR - Toronto Stock Exchange, JSE Limited
NEWS RELEASE
November 2, 2006 Toronto, Ontario
Aflease Gold Appoints N M Rothschild as Exclusive Financial Adviser
Toronto, Ontario and Johannesburg, South Africa - sxr Uranium One Inc.
("Uranium One") announced today that its Aflease Gold Limited ("Aflease
Gold") affiliate has appointed N M Rothschild & Sons to act as its
independent financial adviser with regard to the Modder East Gold Project
("The Project")
Aflease Gold expects to raise R300 million (approximately US$41/C$44.8
million) in project finance to further fund the Modder East Gold Project,
with the first gold pour scheduled for the third quarter of 2009.
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
sxr Uranium One Inc. The company is currently owned as to approximately
71% by sxr Uranium One and has a market capitalization in excess of
R1billion.
About sxr Uranium One
sxr Uranium One Inc. is a Canadian uranium and gold resource company with
a primary listing on the Toronto Stock Exchange and a secondary listing
on the JSE Limited. The Corporation owns the Dominion Uranium Project in
South Africa and the Honeymoon Uranium Project in South Australia, and is
actively pursuing growth opportunities in the uranium sector in the
western United States. The Corporation holds an approximate 71% interest
in Aflease Gold Limited, which owns the Modder East gold project in South
Africa. Through a joint venture with Pitchstone Exploration Ltd., the
Corporation is also engaged in uranium exploration activities in the
Athabasca Basin of Saskatchewan.
For further information, please contact:
Neal Froneman Chris Sattler
Chief Executive Officer Vice President, Investor Relations
Tel: + 27 11 482 3605 Tel: +1 416 350 3657
Forward-looking statements: Certain of the statements made herein,
including any information as to the Corporation"s future financial or
operating performance, may be forward-looking and subject to important
risk factors and uncertainties, many of which are beyond the
Corporation"s ability to control or predict. Forward-looking statements
are necessarily based on a number of estimates and assumptions that are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. Known and unknown factors could cause
actual results to differ materially from those projected in the forward-
looking statements. Such factors include, among others: gold price
volatility; impact of any hedging activities, including margin limits and
margin calls; discrepancies between actual and estimated production,
between actual and estimated reserves and resources and between actual
and estimated metallurgical recoveries; changes in national and local
government legislation, taxation, controls, regulations and political or
economic developments in South Africa or other countries in which the
Corporation does or may carry on business in the future; risks of
sovereign investment; the speculative nature of gold exploration and
development, including the risks of obtaining necessary licenses and
permits; dilution; competition; loss of key employees; additional funding
requirements; and defective title to mineral claims or property. In
addition, there are risks and hazards associated with the business of
gold exploration, development and mining, including, among others,
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins, flooding and gold bullion losses (and
the risk of inadequate insurance or inability to obtain insurance, to
cover these risks). Accordingly, readers should not place undue reliance
on forward looking statements. The Corporation undertakes no obligation
to update publicly or release any revisions to forward-looking statements
to reflect events or circumstances after the date of this document or to
reflect the occurrence of unanticipated events. Investors are advised to
refer to competent persons reports on the Corporation"s material
properties for detailed information with respect to such properties,
which information is subject to the qualifications and notes set forth
therein.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. To receive
the Corporation"s news releases by email, please register on Uranium
One"s website at www.uranium1.com
Date: 02/11/2006 04:31:05 PM Produced by the JSE SENS Department
