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Baomahun Resource Update

Date : 11/19/2012 @ 5:30PM
Source : Marketwired
Stock : America Mineral Fields (AMZ)
Quote : 0.21  0.0 (0.00%) @ 1:58PM
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Baomahun Resource Update

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Amara Mining plc ("Amara" or "the Company") (formerly Cluff Gold plc) (AIM:AMA) (TSX:AMZ), the dual AIM and TSX listed West African focused gold mining company, is pleased to announce a resource update for the Company's 100% owned Baomahun Gold Project ("Baomahun") in Sierra Leone.


Highlights:                                                                 

--  Increased resource in the indicated category through addition of low
    grade halo around the existing high grade core: updated resource of
    38.4Mt at 1.82g/t totalling 2.24Moz in the indicated
    category1(previously 25.6Mt at 2.50g/t totalling 2.06Moz2) 
--  High grade core of mineralisation maintained at 23.0Mt at 2.60g/t
    totalling 1.92Moz in the indicated category 
--  Updated resource model significantly more robust following structural
    re-analysis 
--  Additional exploration targets identified 
--  On track for first gold production in 2015 with the Feasibility Study
    expected to be completed in H1 2013 

1.  Using a 0.5g/t cut-off within a US$1,600/oz open pit shell and a 2.0g/t
    cut-off for resources suitable for underground mining 
2.  Using a 1g/t cut-off within a US$1,500/oz open pit shell and a 1.5g/t
    cut-off for resources suitable for underground mining. See the technical
    report entitled "A 43-101 Technical Report, Mineral Resource Estimate at
    the Baomahun Gold Project" dated October 2011. 

Peter Spivey, Chief Executive Officer of Amara, commented:

"The completion of the resource update for Baomahun, following the additional structural work, is a key step on our path to delivering long term value at the project. Not only does this represent a robust geological model for the development of our feasibility study, it also significantly increases our understanding of the genesis of the Baomahun deposit, highlighting a number of additional near term exploration targets and assisting with the long term exploration of our tenements. With the new geological model we move forward with increasing confidence as we complete the work required to develop Baomahun."


Management Conference Call                                                  
                                                                            
The management team of Amara will host a conference call for analysts and   
investors at 9:30am UK time today. Dial-in details are as follows:          
                                                                            
Dial in number: +44 (0)20 33645381                                          
Participant PIN Code: 8748028                                               
                                                                            
A second conference call will be hosted at 9:30am EDT/2:30pm UK time today  
for North American analysts and investors. Dial-in details are as follows:  
                                                                            
USA +1 212 444 0412                                                         
Other parts of the world +44 20 3450 9987                                   
Participant PIN Code: 9425939                                               

Structural Reinterpretation of the Baomahun Mineralisation

Following an internal review, Amara commenced a re-analysis of the structural controls on the gold mineralisation in the formation of Baomahun led by Dr Leslie Wright, an expert in structural geology with previous knowledge of the licence area. The work involved the re-logging of core samples in conjunction with additional structural mapping of the deposit. This work has confirmed the close relationship of gold mineralisation with various structural domains and mylonitised shear zones. This thorough understanding of the structural controls is vital not only for resource modelling, but also to understand the potential for additional resources defined in the project area.

The new geological model was prepared with an improved understanding of the geometry of the resource. Dr Wright's work pointed to two stages of contractional deformation which resulted in the sequential development of two major sets of folds. Gold mineralisation is interpreted to have initiated during the first phase of folding, and culminated during the second phase of folding, which defined the peak of deformation. Both sets of folds are defined by the geometry of key lithological markers in the subsurface.

A mineralised envelope was defined and modelled by Dr Jun Cowan, Principal Structural Geologist of Orefind Pty Ltd in Australia, and the conceptual founder of Leapfrog mining software. The envelope was defined at a 0.1g/t cut-off incorporating the structural observations of Dr Wright. The model also incorporated new structural insights made by Dr Cowan by modelling the data at the deposit scale using Leapfrog software, which independently was able to verify the fold geometries controlling the gold mineralisation. The aim was to use all of the mineralised material to inform the modelling process. These wireframes were then reconciled against the drill hole database.

Grade interpolation was completed using a local indicator kriging method. This work was completed in house with the assistance of AMC Consultants (UK) Ltd ("AMC"). This is a more sophisticated method of mapping the grades into the block model than the ordinary kriging methodology previously employed, which can have a tendency to smooth the grade distribution. It also deals with the high grades values present in the Baomahun deposit by limiting their sphere of influence relative to the lower grade material and allows for a better definition of high grade shoots. This new model will allow a more realistic resource schedule and optimised open pit to be prepared for the Baomahun feasibility study, work on which is now ongoing.

Additional Exploration Targets Identified

Drilling work has also recommenced at Baomahun, initially targeting five new zones within the resource area, which were highlighted by the re-analysis of the structural controls on the gold mineralisation. By definition, these targets mainly lie within areas of the pit shell that have been classified as waste and hence the discovery of additional mineralisation will have an enhanced impact on the overall project, in terms of grade and strip ratio.

Updated Resource Estimate

The updated resource is largely unchanged from the previous resource in terms of quantity of ounces. It confirms the presence of a robust high grade core to the deposit and recognises the presence of a more substantial lower grade halo than was previously estimated.

The resource estimate has been verified by SRK Consulting (UK) Limited ("SRK") in accordance with the Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") Standards on Mineral Resources and Reserves as recognised by National Instrument 43-101 "Standards of Disclosure for Mineral Projects" of the Canadian Securities Administrators ("NI 43-101"). In order to satisfy the requirement for the mineral resource to show potential for economic extraction, the mineral resource estimate comprises mineralisation above a 0.5g/t cut-off and falling within an optimised pit shell derived using a US$1,600/oz gold price, plus mineralisation below this but above a 2g/t cut-off which SRK considers is potentially amenable to underground mining. Further details of the resource estimation parameters are set out in Appendix 1.


----------------------------------------------------------------------------
                                         Tonnes (Mt) Grade (g/t)  Gold (Moz)
----------------------------------------------------------------------------
Open Pit                       Indicated       34.9        1.62        1.82 
                                Inferred        3.4        1.15        0.12 
Underground                    Indicated        3.5        3.80        0.43 
                                Inferred        3.2        3.95        0.41 
Total                          Indicated       38.4        1.82        2.24 
                                Inferred        6.6        2.52        0.54 
----------------------------------------------------------------------------

1.  Using a 0.5g/t cut-off within a US$1,600/oz open pit shell and a 2.0g/t
    cut-off for resources suitable for underground mining 

Whilst the overall grade of the mineral resource is lower than previously estimated (due to the lower cut-off grade: now 0.5g/t, previously 1g/t), the high grade core of the mineralisation has been retained. In addition, a significant number of additional tonnes of material previously regarded as waste have been interpolated as part of the updated resource wireframe model to produce a lower grade ore domain between and surrounding the previously defined high grade domains. This will have a beneficial impact on the eventual strip ratio.

For comparative purposes, a summary of the total resource estimate announced in September 2011 is compared to the updated mineral resource as at November 2012 in the table below. The September 2011 resource used a 1g/t cut-off for the open pit material and a 1.5g/t cut-off for the underground material and was optimised for potential open pit mining using a US$1,500/oz gold price. The updated mineral resources (combined open pit and underground) have been set out below using the same cut-off grades and optimisation parameters.


----------------------------------------------------------------------------
                       As at November 2012         As at September 2011     
----------------------------------------------------------------------------
                     Tonnes     Grade     Gold    Tonnes     Grade     Gold 
                        (Mt)     (g/t)    (Moz)      (Mt)     (g/t)    (Moz)
----------------------------------------------------------------------------
Indicated              23.0      2.60     1.92      25.6      2.50     2.06 
Inferred                5.0      3.25     0.52       9.6      2.79     0.86 
----------------------------------------------------------------------------

1.  Using a 1g/t cut-off within a US$1,500/oz open pit shell and a 1.5g/t
    cut-off for resources suitable for underground mining 
2.  This should not be considered to be a mineral resource and has simply
    been derived in this manner to provide a like with like comparison to
    the 2011 estimate 

This demonstrates that the high grade core of the mineralisation of Baomahun has been retained within the updated resource model, albeit with a slight fall in total contained metal primarily within the inferred category.

Strategy for Baomahun

Amara's strategy for Baomahun remains focused on delivering the feasibility study for the near term production opportunity whilst continuing to explore and demonstrate the long term resource potential for the area.

Amara's target to commence gold production at Baomahun in 2015 is intact. Delivering the feasibility study in H1 2013 will allow construction to commence at the start of the dry season in November 2013 and first gold to be poured in H2 2015. Work for the feasibility study is focused on the following:


--  Optimising the scheduling of the mine to allow the high grade core to be
    processed in the early years of production in the currently envisaged
    2Mtpa plant to produce a robust payback 
--  Reviewing the economic case for expanding the plant to 4Mtpa after the
    initial payback to allow production to remain at a high level while the
    lower grade material is processed 
--  Crystallising the opportunity for hydro-electric power to provide a low
    cost production environment allowing for the lower grade material to be
    processed economically 

The structural work also highlighted the significant potential that lies at depth below the current pit. High grade shoots are seen to improve with depth and structural work points to these structures coalescing. Our intention is to also investigate the depth potential of the deposit to evaluate the opportunity to maintain the production rate once lower grade material is being fed from the open pit by blending higher grade ore from underground sources. This is not expected to form part of the initial feasibility study.

Long term exploration potential

The new structural interpretation of the Baomahun deposit has also highlighted opportunities for long term resource growth through exploration. Drilling has recently recommenced following the cessation of the wet season in Sierra Leone, focused initially on targets within the existing resource area. The re-analysis highlighted five new targets with the potential to convert further areas of the currently envisaged open pit from waste to ore, maintaining the high grade core of the orebody. An initial 3,500m of drilling has been planned to test the five targets within the resource area, with a further 12,000m provisionally budgeted if any of these targets warrant further evaluation.

Amara will also continue to explore outside of the current resource area, with a mineral resource expected for the Pujehun South target in Q2 2013. Pujehun South is located approximately 800m north of the resource area and 36 holes have been drilled in 2012, outlining a 600m by 140m package of mineralisation. Initial results were announced on 29 February 2012 and drilling from March 2012 to date has returned significant individual intercepts, including:


--  15m at 2.40g/t from 23m in hole EDH055 
--  14m at 2.14g/t from 45m in hole EDH078 
--  6m at 4.70g/t from 155m in hole EDH0107 
--  4m at 6.26g/t from 163m in hole EDH0108 

However, as with the resource area, the mineralization consists of multiple intersections, for example in drill holes: EDH061, EDH086, EDH096 and EDH107. A full set of results from Pujehun South received after the last drilling update announced on 29 February 2012 is included in Appendix 2.

In addition, a number of new targets have been identified within the Makong South licence, located approximately 15km north of the existing resource area. Sampling of artisanal workings and new trenches has returned encouraging results, which has led to the implementation of a more aggressive trenching campaign. A further 4,500m of trenching is expected to be completed by mid Q1 2013 which will be followed up with a 1,000m drilling programme in Q2 2013 to enable Amara to obtain a better understanding of the controls on the mineralisation. The main target consists of a series of artisanal workings extending in a NNW-SSE direction for 1.9km.

Quality Assurance and Quality Control

Drill intersections from in-fill drill holes both in the Baomahun resource area and Pujehun South were calculated using a minimum width of 2m, a cut-off of 0.5g/t and up to 2m of internal waste. The intersections set out in Appendix 2 are from in-fill drill holes within the resource area and do not necessarily represent extensions to already defined zones of mineralisation. The true thickness of the mineralisation may vary from 40% to 100% of the intersected widths.

Drill cores for assaying were taken at a maximum of one metre intervals and were cut with a diamond saw. One half of the core was placed in sealed bags and sent to the Company's sample preparation facility at Baomahun, Sierra Leone. The core samples were then crushed to minus 4mm and split, with 1.0kg of sample pulverised down to 95% passing 106 microns. Approximately 120 grams of the pulverised sample were then shipped to a laboratory which is independent of the Company - the SGS Laboratory, Tarkwa, Ghana, where the samples were analysed for gold by fire assay using a 50g charge. As part of the Company's QA/QC procedures, internationally recognised standards, blanks and duplicate samples were inserted into the sample batches.

About Amara Mining plc

Amara (formerly Cluff Gold plc) is a gold developer-producer with assets in West Africa. The Company generates significant cash flow through its Kalsaka gold mine in Burkina Faso, where the production profile has been enhanced by the recent acquisition of the neighbouring Sega project. Amara remains focused on its objective of becoming a mid-tier producer through the development of its Baomahun project in Sierra Leone and its Yaoure project in Cote d'Ivoire. With its experience of bringing new mines into production and a project pipeline spanning Burkina Faso, Cote d'Ivoire and Mali, Amara aims to further increase its production profile with its highly prospective exploration work across all assets.

This report includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.

All statements other than statements of historical fact included in this report, including, without limitation, the positioning of the Company for future success, statements regarding exploration, production estimates and future objectives of Amara, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Amara's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, the results of the Baomahun feasibility study, changes in project parameters as plans continue to be refined as well as the future price of gold. Although Amara has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Amara does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

Risk Factors:

Baomahun does not have identified Proven and Probable Mineral Reserves, which will be required as a basis for determining if Baomahun has bodies of commercial mineralisation. The costs, timing and complexities of upgrading the Mineral Resources at Baomahun to Proven and Probable Mineral Reserves could have a material adverse effect upon the Company and would materially and adversely affect our potential mineral production, profitability, financial performance and results of operations. Significant time and financial requirements are needed for bringing Baomahun into production and there can be no assurance that the Company will be able to accomplish this by 2015, or at all.

Mineral exploration and development involves a high degree of risk and few properties which are explored are ultimately developed into producing mines. With respect to Baomahun, substantial expenditures will be made by Amara to confirm Mineral Reserves which are sufficient to commercially mine such property, and to conclude appropriate fiscal stability agreements required to commence commercial operations. There can be no assurance that the Mineral Resources at Baomahun can be commercially mined or that the metallurgical processing will produce economically viable, saleable products. The decision as to whether a property contains a commercial mineral deposit and should be brought into production depends upon the results of exploration programs and/or feasibility studies, and the recommendations of duly qualified engineers and/or geologists, all of which involves significant expense. This decision will involve consideration and evaluation of several significant factors including, but not limited to: (1) costs of bringing Baomahun into production, including exploration and development work, preparation of feasibility studies and construction of production facilities; (2) availability and costs of financing; (3) ongoing costs of production; (4) market prices for the minerals to be produced; (5) environmental compliance regulations and restraints; and (6) political climate and/or governmental regulation and control. With respect to Baomahun we are currently preparing the feasibility study and economic analysis of the proposed operations. Until such is done, there can be no assurance that our proposed operations at Baomahun will be profitable and there can be no assurance that the feasibility study will be completed by H1 2013. Our ability to sell, and profit from the sale of any eventual mineral production from any of our properties will be subject to the prevailing conditions in the minerals marketplace at the time of sale. The global minerals marketplace is subject to global market conditions and changing attitudes of investors, consumers and other end-users' demand for gold. Many of these factors are beyond our control and therefore represent a market risk which could impact the long term viability of Amara and its operations.


Appendix 1: Resource Estimation Parameters                                  

1.  The estimates of mineral resources were calculated in accordance with
    the definitions adopted by the Canadian Institute of Mining Metallurgy
    and Petroleum ("CIM") and incorporated into NI 43-101. The mineral
    resource estimate was carried out by Andrew Owusu Asante of Amara with
    assistance from David Boakye of AMC and Dr Andrew Richmond of Martlet
    Consultants Pty Ltd. Dr John Arthur and Dr Mike Armitage of SRK reviewed
    the on-going estimation procedure and final estimates and have approved
    the final Mineral Resource Statement derived from this work. Both Dr
    John Arthur (CGeol FGS, CEng MIMMM) and Dr Mike Armitage (CGeol FGS,
    CEng MIMMM) are Qualified Persons under the guidelines set out in NI 43-
    101 and have reviewed this press release for accuracy and compliance. 
2.  The estimate of mineral resources may be materially affected by
    environmental, permitting, legal, marketing, or other relevant issues.
    For a full list of associated risk factors, please see the Risk Factors
    section of the footnotes. 
3.  Ounces represent estimated gold content present in the tonnes of ore
    which would be mined and processed. Mining recovery, dilution and mill
    recovery rates have not been applied in calculating the contained
    ounces. 
4.  In accordance with the guidelines set out by the CIM and contained
    within NI 43-101, this mineral resource estimate for the Baomahun
    property uses a 0.5 g/t Au cut-off within a pit shell optimised using a
    $1,600/oz Au to represent that portion of the resource which has
    "reasonable prospects for economic extraction" from an open pit mining
    scenario. In addition the block model below this pit shell has been
    interrogated using a 2.0g/t cut-off to represent those blocks with
    potential to satisfy an underground mining scenario.  
5.  Amara's attributable portion of the mineral resource estimate is 100%. 
6.  Tonnes and gold figures are rounded to the nearest '000. Grade is
    rounded to 2 decimal point. As a result, numbers may not add up due to
    rounding 
7.  The geostatistical classification methodology used was based on a
    combination of kriging quality results in conjunction with the drill
    density and confidence in the resource wireframe model. The use of the
    kriging quality methodology provides a detailed audit of the kriging
    parameters used for grade interpolation and allows a sensitivity
    analysis to be performed to identify the optimum search parameters to be
    used for the final estimate. In the opinion of SRK this is a more
    appropriate methodology for the Baomahun deposit and generates a more
    robust classification.

Appendix 2 - Pujehun South drilling results                                 
                                                                            
Interval lengths are not true widths. Composite intersections are based on a
minimum width of 2m and a cut-off grade of 0.5 g/t.                         
                                                                            
Internal dilution of up to 2m has been allowed for continuity. No top cut.  
All holes, for which results have been received since 29 February 2012, have
been included in the table.                                                 
                                                                            
----------------------------------------------------------------------------
Hole  From   To Interval  Gold     UTM    UTM                               
 ID     (m)  (m)      (m) (g/t)   East  North Elevation Azimuth  Dip    Zone
----------------------------------------------------------------------------
EDH055  23   38       15   2.4  205622 933825       426     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH058  24   27        3  3.49  205556 933684       330     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH059  91   99        8  0.63  205743 933501       288     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
       106  113        7   0.7                                              
----------------------------------------------------------------------------
EDH061   0    3        3  0.68  205363 934100       255     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
         7   26       19  0.91                                              
----------------------------------------------------------------------------
        48   50        2  1.38                                              
----------------------------------------------------------------------------
        68   73        5   1.8                                              
----------------------------------------------------------------------------
        89   95        6  2.14                                              
----------------------------------------------------------------------------
       130  132        2  1.51                                              
----------------------------------------------------------------------------
       140  142        2  0.92                                              
----------------------------------------------------------------------------
       146  152        6  0.99                                              
----------------------------------------------------------------------------
EDH062  12   14        2  3.63  205649 933485       250     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
       106  108        2  1.92                                              
----------------------------------------------------------------------------
       114  116        2  0.83                                              
----------------------------------------------------------------------------
EDH063        0                 205323 934240       358     236   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH077        0                 205536 933446       217     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH078  45   59       14  2.14  205653 933845       440     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH079        0                 205675 933800       425     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH080  26   30        4  0.74  205702 933753       407     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH081   5   10        5  2.27  205440 933911       337     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
        26   29        3  0.66                                              
----------------------------------------------------------------------------
        32   36        4  3.69                                              
----------------------------------------------------------------------------
        41   51       10  2.92                                              
----------------------------------------------------------------------------
        74   76        2  1.91                                              
----------------------------------------------------------------------------
       111  113        2  9.68                                              
----------------------------------------------------------------------------
       125  128        3   1.2                                              
----------------------------------------------------------------------------
       135  139        4  1.45                                              
----------------------------------------------------------------------------
       145  148        3  0.82                                              
----------------------------------------------------------------------------
EDH082  91   94        3  2.95  205486 933932       340     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
       125  127        2  1.18                                              
----------------------------------------------------------------------------
       146  149        3  1.63                                              
----------------------------------------------------------------------------
       177  181        4  1.18                                              
----------------------------------------------------------------------------
EDH083   0    5        5   0.9  205390 933890       326     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
        38   40        2   6.9                                              
----------------------------------------------------------------------------
        62   71        9  0.84                                              
----------------------------------------------------------------------------
        81   84        3   0.8                                              
----------------------------------------------------------------------------
EDH084 101  104        3   0.9  205698 933865       447     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH085  44   47        3   1.1  205646 933838       440     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
        55   56        1 10.55                                              
----------------------------------------------------------------------------
EDH086  47   54        7   1.8  205560 933917       398     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
       152  158        6  1.74                                              
----------------------------------------------------------------------------
       170  177        7  1.43                                              
----------------------------------------------------------------------------
       220  226        6  0.56                                              
----------------------------------------------------------------------------
EDH087 121  125        4  0.51  205730 933817       432     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH089 133  137        4  0.54  205785 933797       420     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH090                          205817 933767       375     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH092                          205242 934096       239     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH093                          205261 934058       224     255   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH095  39   44        5  1.06  205456 934025       276     225   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH096  24   30        6  1.54  205351 934144       278     255   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH097                          205147 934168       263     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH098                          205093 934249       259     255   48 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH099                          205173 934295       294     255   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH100 172             5 0.755  205250 934220       331     255   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH101 135  141        6  3.18  205416 934188       336     255   52 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH102                          206150 933572       230     255   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH103                          206003 933626       304     255   46 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH104                          205916 933667       310     255  255 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH105                          205398 934276       353     253 45.2 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH106                          205516 934080       270     254   45 Pujehun
                                                                       South
----------------------------------------------------------------------------
EDH107  49   52        3  1.45  205474 934146       309     252   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
        64   67        3  1.31                                              
----------------------------------------------------------------------------
       138  143        5   1.5                                              
----------------------------------------------------------------------------
       155  161        6   4.7                                              
----------------------------------------------------------------------------
EDH108  28   30        2  1.66  205516 934039       289     255   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
       116  118        2  0.08                                              
----------------------------------------------------------------------------
       125  127        2  0.66                                              
----------------------------------------------------------------------------
       163  167        4  6.26                                              
----------------------------------------------------------------------------
EDH109 105  107        2  2.88  205550 933968       375     255   50 Pujehun
                                                                       South
----------------------------------------------------------------------------
       162  164        2  1.78                                              
----------------------------------------------------------------------------
       180  183        3  2.07                                              
----------------------------------------------------------------------------
EDH110 147  151        4  3.58  205612 933930       400     263   48 Pujehun
                                                                       South
----------------------------------------------------------------------------

Contacts: Amara Mining plc John McGloin, Chairman Peter Spivey, Chief Executive Officer Pete Gardner, Finance Director Katharine Sutton, Head of Investor Relations +44 (0)20 7398 1420 Canaccord Genuity Limited (Nominated Adviser & Broker, London) Rob Collins Sebastian Jones Joe Weaving +44 (0)20 7523 8350 Pelham Bell Pottinger (Financial Public Relations) Charlie Vivian Daniel Thöle James MacFarlane +44 (0)20 7861 3232



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