Anglo Pacific Group PLC
LSE : APF
TSX : APY

Anglo Pacific Group PLC

December 08, 2011 09:30 ET

Anglo Pacific Group PLC: First Royalty Payment Received From El Valle-Boinas/Carles Gold Mine

LONDON, UNITED KINGDOM--(Marketwire - Dec. 8, 2011) - Anglo Pacific Group PLC (TSX:APY)(LSE:APF) ("Anglo Pacific") is pleased to announce the receipt of its first royalty payment from the El Valle-Boinás/Carlés Mine ("EVBC") in Northern Spain operated by Orvana Minerals Corp ("Orvana").

Gold production is targeted to be approximately 5,000 ounces per month for Orvana's fiscal year ending September 30, 2012 (Orvana Press Release, November 10, 2011). EVBC has a life-of-mine plan for the annual production of 105,000 ounces of gold and 8.6 million pounds of copper (Orvana Third Quarter Results, August 15, 2011).

Anglo Pacific holds a 2.5% NSR on EVBC that increases to 3% for each quarter in which the gold spot price averages or exceeds US$1,100 per ounce.

Notes to editors:

About Anglo Pacific Group PLC

Anglo Pacific is a global natural resources royalties company. Anglo Pacific's strategy is to expand its mineral royalty interests in low-cost, long-life mining assets. Anglo Pacific achieves this through both direct acquisition and investment in projects at the development and production stage. It is a continuing policy of Anglo Pacific to pay a substantial proportion of these royalties to shareholders as dividends.

About Orvana

Orvana Minerals is a multi-mine gold and copper producer. Orvana's primary asset is the El Valle-Boinás/Carlés ("EVBC") gold-copper project in northern Spain, now in production. Orvana also owns and operates the Don Mario Mine in Bolivia where a newly completed leaching precipitation-flotation ("LPF") plant is processing its copper-gold-silver Upper Mineralized Zone ("UMZ") deposit. Orvana is also advancing its major Copperwood copper project in Michigan, USA. Additional information is available at Orvana's website (www.orvana.com).

Important notice

This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific's expectations, estimates and projections of future events as of the date of this release. Forward-looking statements include, without limitation, statements regarding the performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of Anglo Pacific. Often, but not always, forward-looking statements can be identified by the use of words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements involve known and unknown risks, uncertainties and other factors that are beyond the Company's control and which may cause the actual results, performance or achievement to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such material factors and assumptions and risks and uncertainties include, among others, those described in the Company's annual information form dated as at June 29, 2010 (available on Anglo Pacific's website and at www.sedar.com), which are incorporated by reference into this release and qualify any and all forward-looking statements made in this release.

Although Anglo Pacific has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein relate only to events or information as of the date on which the statements are made and, except as specifically required by law, Anglo Pacific undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise.

Registered in England No. 897608 Registered Office: 17 Hill Street, London W1J 5LJ

Contact Information

  • Anglo Pacific Group PLC
    Peter Boycott
    Chairman
    +44 (0) 20 3435 7400

    Anglo Pacific Group PLC
    John Theobald
    Chief Executive Officer
    +44 (0) 20 3435 7400
    www.anglopacificgroup.com

    Liberum Capital
    Chris Bowman
    Christopher Kololian
    +44 (0) 20 3100 2000

    Pelham Bell Pottinger
    Lorna Spears
    James MacFarlane
    +44 (0) 20 7861 3232