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AFO
AFO
Aflease Gold - Appoints N M Rothschild as exclusive financial adviser
AFLEASE GOLD LIMITED
(Formerly Sub Nigel Gold Mining Company Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1984/006179/06)
Share Code: AFO & ISIN Code: ZAE000075867
("Aflease Gold")
NEWS RELEASE
November 2, 2006
Aflease Gold Appoints N M Rothschild as Exclusive Financial Adviser
Johannesburg, South Africa - Aflease Gold Limited ("Aflease Gold") today
announced that it 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.
For further information, please contact:
Neal Froneman Robert van Niekerk
Chief Executive Officer Chief Operating Officer
Tel: + 27 11 482 3605 Tel: + 27 11 814 4290
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
fundingrequirements; 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.
Date: 02/11/2006 04:30:07 PM Produced by the JSE SENS Department
