Amara Mining PLC: Share Purchase Agreement with Amlib Holdings Plc

LONDON, UNITED KINGDOM--(Marketwired - Nov 7, 2013) -

TSX:AMZ

7 November 2013                                                AIM:AMA

                         Amara Mining plc
                    ("Amara" or "the Company")

LONG TERM STRATEGIC INVESTOR, RDV CORPORATION, TO BOLSTER AMARA VIA
SHARE PURCHASE AGREEMENT WITH AMLIB HOLDINGS PLC

Amara Mining plc, the AIM listed West African focused gold mining
company, is pleased to announce that it has entered into a legally
binding, conditional share purchase agreement (the "Agreement") with
Amlib Holdings plc ("Amlib") pursuant to which the Company will acquire
US$10 million cash, a drilling operation and three Liberian exploration
licences (the "Transaction") for an aggregate value of US$11.0 million.

Amlib is a privately held gold exploration company with RDV Corporation
("RDV") as majority shareholder. RDV has invested in Amlib since 1999
and regards the Transaction as the optimal path to pursue its West
African gold investment strategy. The experience of Amara's
exploration team can assist to deliver maximum value from the Liberian
assets, whilst Amlib's shareholders will benefit from exposure to
Amara's broader growth portfolio. In addition to the three exploration
licences, Amara will benefit from lower costs for its ongoing
exploration across the region by utilising the drilling assets of Amlib
(which have a net book value of US$1.6 million), together with the
support of a new strategic shareholder in RDV.

Click on, or paste the following link into your web browser, to view
the associated PDF document.

 http://www.rns-pdf.londonstockexchange.com/rns/4105S_1-2013-11-7.pdf 

For more information please contact:

Amara Mining plc                             +44 (0)20 7398 1420
John McGloin, Chairman
Peter Spivey, Chief Executive Officer
Pete Gardner, Finance Director
Katharine Sutton, Head of Investor Relations

Canaccord Genuity Limited                    +44 (0)20 7523 8000
(Nominated Adviser & Broker, London)
Neil Elliot
Chris Fincken
Joe Weaving

Bell Pottinger - Pelham                      +44 (0)20 7861 3232
(Financial Public Relations)
Charlie Vivian
James Macfarlane




                    This information is provided by RNS
          The company news service from the London Stock Exchange

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