Agricola Resources plc

September 29, 2009 06:00 ET

Disposal of Swedish Licences

                                        AGRICOLA RESOURCES PLC
                                     ("Agricola" or the "Company")
                                     Disposal of Swedish Licences

The  Directors  of  Agricola  Resources Plc, (Plus-AGRI) the Plus Markets traded  mineral  exploration
company,  are  pleased to announce that the Company has disposed of its Swedish licences and  reverted
the  Ballek JV to Beowulf Mining Plc for a cash consideration equivalent to £71,110. The disposal  was
made  in  order  to  facilitate  and  further  enhance the Company's  strategic  objectives  for  gold
exploration in North Africa.

The  proceeds will be used to seek to acquire gold exploration concessions in North Africa  (Morocco),
negotiations for which are at an advanced stage, and to repay loans outstanding to Energy Ventures Ltd
for previous work in Sweden.

Anthony  Scutt,  as a Director of both Agricola and Beowulf Mining Plc, stood down from  each  of  the
Boards' decisions on this transaction.

Dr. Robert Young, Chairman of Agricola commented:

"The  Directors  of  Agricola  made  the  decision to concentrate  on  gold  mineral  exploration  and
development and after long discussions decided to seek to acquire gold concessions in Morocco. We hope
to  make  further  announcements on North Africa developments in the near future.  Agricola  has  made
arrangements to work with a group of British geologists who live in Spain and had alerted the  Company
to the potential of the Moroccan project."

The Directors of Agricola Resources Plc are responsible for the content of this announcement.

For further information contact:-

Dr. Robert Young
Agricola Resources PLC                     +44 (0)1353 649 379

Corporate Adviser
St Helens Capital Partners LLP             +44 (0)20 7368 6959
Duncan Vasey or Mark Anwyl

Contact Information

  • Agricola Resources plc