Directorate Change and Subscription

APPOINTMENT OF DIRECTORS AND FUNDRAISING

 

Ahead of its Annual General Meeting to be held at 11.30am today, the board of AuM is pleased to announce the appointments of Peter James Mullens as Chief Executive Officer and Gokhan Kantarcigil as a non-executive director of the Company. Both appointments will be effective immediately following the conclusion of the Annual General Meeting. Mr. Mullens and Mr. Kantarcigil have also agreed to subscribe for 47,591,741 ordinary shares in the capital of the Company (“Ordinary Shares”) at a price of 0.436p per Ordinary Share to raise £207,500 for the Company.

Appointment of Directors

Mr. Peter James Mullens joins the board as Chief Executive Officer. He brings to the Company over 30 years of experience in mining and exploration geology. His experience includes mine geology, grass roots exploration, feasibility work and business development. Mr. Mullens is currently a director of Royal Road Minerals, a TSX-V listed minerals exploration company. He was previously a founder of Lydian International, an emerging gold developer with a gold project in Armenia. While he was Chief Geologist and Business Development Manager with Aquiline Resources, Mr. Mullens identified the Calcatreu and Navidad assets which were acquired from Newmont Mining in October 2002. Aquiline Resources was later sold to Pan American Silver in 2009 for approximately US$650m.

Mr. Gokhan Kantarcigil joins the board as a non-executive director. Mr. Kantarcigil has over 15 years’ experience in the mining industry having started his early career as a commodities trader. Mr. Kantarcigil was Founder and CEO of VTG Holdings, a private mining and exploration company with interests in Turkey, South Africa and Colombia. In particular, he and his partners discovered the Brummersheim coal project in South Africa which was funded privately and currently produces in excess of 1 million tons of thermal coal per year.

Subscription for Ordinary Shares

Mr. Mullens and Mr. Kantarcigil yesterday agreed to subscribe for 36,123,852 and 11,467,889 Ordinary Shares respectively (the “Subscription Shares”) at a price of 0.436p per Subscription Share (the “Subscription”). The £207,500 gross proceeds of the Subscription will provide the Company with additional working capital as it seeks high-value exploration assets. The Subscription Shares have been issued out of the existing authorities to issue and allot Ordinary Shares granted to the directors at the previous AGM held on 31 July 2014, accordingly the Subscription is not subject to shareholder approval.

Following the Subscription, Mr. Mullens will hold 36,123,852 Ordinary Shares equating to 8.68 per cent. of the Company’s issued share capital. Mr. Kantarcigil will hold 11,467,889 Ordinary Shares equating to 2.75 per cent. of the Company’s issued share capital.

Application has been made for the 47,591,741 Subscription Shares to be admitted to trading on AIM (“Admission”) and it is expected that Admission will occur and dealings will commence in the Subscription Shares on 20 July 2015. The Subscription Shares will rank pari passu with the existing Ordinary Shares in issue. Following Admission there will be 416,308,470 Ordinary Shares in issue.

Commenting on the appointments and Subscription, Mr. Bruce Kay, Chairman of AuM, said:

“I am delighted to welcome Pete and Gokhan to the board. Their experience in identifying and developing assets through the exploration and production cycle will be invaluable as we seek to create value for all of Aurasian’s shareholders. Their investment in the Company demonstrates their commitment and we very much look forward to working with them.”

 

For further information, please contact:

Aurasian Minerals Plc                                                                                                              bruce.kay@aurasianminerals.com 

Bruce Kay

finnCap Limited                                                                                                                                                   +44 (0) 20 7220 0500

Christopher Raggett / Scott Mathieson

 

The following information is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.

Full name: Peter James Mullens

Age: 54

Current directorships and partnerships

Directorships and partnerships held in the last five years

Ironbark Pacific Pty Ltd

Hodges Resources

Ortelius Resources

Javelina Resources

Royal Road Minerals

Laramide Resources

Terreno Resources

Lydian International

Mr. Mullens holds 36,123,852 Ordinary Shares and no options over Ordinary Shares.

 

Full name: Gokhan Kantarcigil

Age: 38

Current directorships and partnerships

Directorships and partnerships held in the last five years

Oremine Madencilik AS

VTG Holdings AS

Merih Madencilik AS

Enova Resources

Perlitsan Madencilik AS

Caldag Nikel Madencilik

GK Trust

Duru Enerji

Kapasite Enerji

Ugurtepe Madencilik

VTG Bakir

VTG Nikel

VTG Komur

Mr. Kantarcigil holds 11,467,889 Ordinary Shares and no options over Ordinary Shares.

 

There is no further information to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.