Aspartus Resources plc
LSE : ASPP

July 01, 2011 07:52 ET

Acquisition

                                                     
                                          ASPARTUS RESOURCES PLC
                                                ACQUISITION
                                                     
Aspartus  Resources  Plc  ("Aspartus" or "the Company") is pleased  to  announce  that  it  has,  for  cash
consideration of USD 490, agreed to subscribe for 490 shares which will comprise 49% of the entire enlarged
issued  share  capital  of  Principal Resources Limited ("Principal"), a British  Virgin  Islands  company.
Principal  in turn has signed a sale and purchase agreement to acquire 80% of the entire share  capital  of
P.T.  Gunung  Mas  Karunia  Mining ("P.T. Gunung"), an Indonesian company,  which  is  subject  to  certain
conditions including due diligence and obtaining the approval of The Investment Coordinating Board  of  the
Republic of Indonesia.

P.T. Gunung has been issued with exploration licences for coal mining concessions in Indonesia.

It  is  understood  that  further exploration and funding will be required  to  assess  the  potential  and
establish  any  meaningful  production  and  for this reason the  Company  is  unable  to  provide  further
information at this stage regarding the potential of this investment. As developments occur we will  update
the market accordingly.

The Directors of the Issuer accept responsibility for this announcement.

1 July 2011

FOR FURTHER INFORMATION PLEASE CONTACT:

Leo Knifton
Aspartus Resources PLC
Finsgate
5-7 Cranwood Street
London
EC1V 9EE

Tel: +44 (0) 20 7309 2280
Fax: +44 (0) 20 7566 0023

Nick Michaels
Alfred Henry Corporate Finance Limited
www.alfredhenry.com



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