Anglo Aluminum Corp.

Anglo Aluminum Corp.

March 18, 2010 12:16 ET

Anglo Aluminum Acquires Mamou-Dalaba Bauxite Project, Guinea

KAMLOOPS, BRITISH COLUMBIA--(Marketwire - March 18, 2010) - Anglo Aluminum Corp. (TSX VENTURE:ALU) is pleased to announce the acquisition of the Mamou-Dalaba bauxite property in Guinea, West Africa. The property comprises 4 exploration permits covering 1832 km2 in south-western Guinea. Anglo Aluminum retained Coffey Mining (Coffey) of Perth, Australia to complete a preliminary assessment of the project including:

  • First-pass ASTER processing to generate plateau outlines and bauxite target ranking
  • Reconnaissance site visits to check targets, collect samples, and assess bauxite potential
  • Formulation of a bauxite exploration program

The ASTER processing generated 150 targets with a combined surface area of approximately 181km2. Coffey was able to visit 30 of these targets on the site visit. Of these, 14 targets with a combined surface area of 55km2 were identified as having high-prospectivity for bauxite on the basis of field observations and unverified historical drillhole data referenced on the 1:200,000 Dalaba Geological Map Sheet.

Based on the high-prospectivity of these plateaus, Anglo Aluminum is working with Coffey to develop a program to quickly confirm these bauxite targets through drill testing.

Anglo Aluminum acquired the Mamou-Dalaba project through an agreement to purchase 100% of the issued share capital of Societe Guineenne de Fer et de Bauxite (SGFB), a local Guinean company that holds the 4 Mamou-Dalaba bauxite permits. SGFB also holds 14 base metal and 4 iron ore permits in the Beyla and Kankan areas, and 3 uranium permits in the Beyla area in south-eastern Guinea. Coffey will complete an initial assessment on these permits, as well.

Koba and Koumbia Bauxite Projects

A preliminary economic assessment (PEA) is currently being organized for Anglo Aluminum's flagship projects at Koba and Koumbia, Guinea. That study will investigate the economics of mining operations at Koba and/or Koumbia. Koba hosts NI 43-101 compliant Indicated resources of 343,183,000 tonnes averaging 42.78% Al2O3, 2.85% SiO2, and 27.83% Fe2O3, and an additional 63,342,000 tonnes averaging 43.81% Al2O3, 2.74% SiO2, and 26.76% Fe2O3 classified as Inferred resources.

Anglo Aluminum recently announced high-grade bauxite results from drilling completed on the Kousidji Plateau at Koumbia (see news release dated February 18, 2010). Part of the PEA will focus on defining a bauxite resource at Koumbia as well as updating the resource estimate at Koba.

Christopher J. Wild, P.Eng., Vice-President and Director of Anglo Aluminum, and a Qualified Person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

On behalf of the Board of Directors
Anglo Aluminum Corp.

Neither the TSX Venture Exchange nor any other regulatory body has approved or disapproved of the information contained therein.

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