African Aura Resources Ltd.
TSX VENTURE : AAZ

African Aura Resources Ltd.

June 30, 2009 21:09 ET

African Aura and Mano River Sign Definitive Combination Agreement in Respect of Proposed Merger

TORONTO, ONTARIO--(Marketwire - June 30, 2009) -

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African Aura Resources Ltd. ("African Aura") (TSX VENTURE:AAZ) and Mano River Resources Inc. ("Mano River") (TSX VENTURE:MNO)(AIM:MANA) are pleased to jointly announce that they have entered into the definitive combination agreement (the "Combination Agreement") in respect of their proposed merger, as contemplated in the previously announced letter of intent between the companies dated 15 April 2009, as amended on 14 May 2009 and 12 June 2009 (the "LOI"). As previously announced, Mano River will offer 1.57 Mano River shares for every one African Aura share in order to acquire the entire issued share capital of African Aura.

The terms of the Combination Agreement are substantially similar to the terms of the LOI.

The transaction is structured as a merger under the corporate laws of the British Virgin Islands ("BVI"). In accordance with the plan of merger dated 30 June 2009 between MANAAR Limited ("MANAAR"), a wholly-owned BVI subsidiary of Mano River, African Aura and Mano River, MANAAR will, subject to regulatory approval and the approval of the merger by the shareholders of African Aura, merge with African Aura and Mano River will thereby acquire all of the issued and outstanding common shares of African Aura.

The African Aura meeting at which its shareholders will consider and, if deemed advisable, approve the merger is currently scheduled to be held on 31 July 2009 and, in any event, is expected to take place no later than 15 August 2009. Both companies are endeavouring to expedite the process in order to hold the African Aura shareholders' meeting as soon as possible. The notice of the African Aura meeting and accompanying management information circular are currently under preparation and will be sent to the African Aura shareholders at the earliest opportunity.

The effective date for closing of the merger is expected to be in mid to late August, or at latest during September, at which time the merger will be complete and Mano River shares will be issuable to African Aura shareholders.

The Combination Agreement will be available on SEDAR at www.sedar.com under the profiles of each of African Aura and Mano River on or before 10 July 2009. For a summary of the terms of the proposed merger, refer to the press releases of each of African Aura and Mano River dated 15 April 2009, which are available under the companies' respective SEDAR profiles at www.sedar.com.

About African Aura

African Aura (TSX VENTURE:AAZ) has a 'first-mover' exploration strategy, focused on the discovery of economic iron, gold, and uranium deposits in sub-Saharan Africa. African Aura commenced exploration in 2004 and has established a portfolio of exploration licences totalling approximately 9,480km2, targeting areas of active artisanal gold mining within Archaean greenstone and Proterozoic volcano-sedimentary belts. The portfolio includes the 12km long Nkout iron project in southern Cameroon, the Batouri gold project in eastern Cameroon, the Fula Camp gold project in western Liberia, and a pipeline of significant prospects for drill testing, as well as numerous other gold, uranium and iron ore targets that require follow up exploration. African Aura trades on the TSX-V under the symbol AAZ. More information can be found on line at www.african-aura.com and at SEDAR's website: www.sedar.com.

Forward-looking Statements

This press release includes certain Forward-Looking Statements. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the proposed merger and future plans and objectives of African Aura and/or Mano River, are forward-looking statements that involve various known and unknown risks and uncertainties as well as other factors. Such forward-looking statements are subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations, including delays in obtaining or failure to obtain required regulatory and shareholder approvals. 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. Any forward-looking statements speak only as of the date hereof and, except as may be required by applicable law, African Aura and Mano River disclaim any obligation to update or modify such forward-looking statements, either as a result of new information, future events or for any other reason.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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