Mineral Deposits Limited
TSX : MDM
ASX : MDL

Mineral Deposits Limited

April 27, 2010 08:55 ET

Mineral Deposits Limited Opening of 2010 Share Purchase Plan

MELBOURNE, AUSTRALIA--(Marketwire - April 27, 2010) - Further to the announcement on 14 April 2010, Mineral Deposits Limited ("MDL" or the "Company")(TSX:MDM)(ASX:MDL) today opened the offer for a Share Purchase Plan ("SPP") under which Eligible Shareholders have the opportunity to subscribe for new ordinary shares in MDL to a value of $1,000, $2,000, $5,000, $10,000 or $15,000, as selected, without brokerage or other transaction costs, at an issue price of A$0.95 per share.

Participation in the SPP is voluntary and open to all MDL shareholders who, at 7.00pm (Melbourne time) on the Record Date of Wednesday, 21 April 2010, were registered holders of fully paid ordinary shares in the Company with a registered address in Australia or New Zealand ("Eligible Shareholders").

Documentation in relation to the SPP, comprising a Chairman's Letter, the SPP Terms and Conditions and the SPP Application Form, is in the process of being despatched to Eligible Shareholders and is enclosed with this announcement.

The SPP closes at 5.00pm (Melbourne time) on Friday, 14 May 2010 (unless varied).

About MDL

Mineral Deposits Limited is an ASX and TSX listed mining company with a current focus in Senegal, West Africa through a producing gold mine, the Sabodala Gold Operation, and a to be developed mineral sands project, the Grande Côte Mineral Sands Project.

The Sabodala Gold Operation, which poured its first gold in March 2009, is located 650 kilometres east of the capital Dakar within the West African Birimian geological belt in Senegal, and about 90 kilometres from major gold mines and discoveries in Mali. The area has only recently been opened for mining and exploration and is emerging as a significant new gold camp, with more than 10M ounces of resources already discovered.

The Grande Côte Mineral Sands Project is located on the coast of Senegal starting approximately 50 kilometres north of Dakar and extending northwards for more than 100 kilometres. The large scale of the ore body and the high quality of the zircon provides the potential to establish an operation of international significance.

Senegal is one of Africa's most successful democracies, having gained independence in 1960. It enjoys a stable and investor friendly political and social environment. The government of the Republic of Senegal is MDL's valued partner and holds a 10% free carried interest in both projects, which will accrue dividends once MDL has recovered its capital invested.

ABN 19 064 377 420

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