Angus Mining (Namibia) Inc.

December 13, 2010 16:07 ET

Angus Mining (Namibia) Inc. Announces New COO and Grant of Stock Options

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2010) - Angus Mining (Namibia) Inc. ("Angus Mining") (TSX VENTURE:ANA) is pleased to announce that Mr. Peter Olander has been appointed as Chief Operating Officer ("COO"). Mr. Olander holds a Masters degree in Geology from Eastern Washington University, and has over 25 years of experience as a Geologist, Project Manager, and Exploration Consultant. Most recently, Mr. Olander was employed by a private U.S. Company in evaluating gold property acquisitions. Mr. Olander has also worked with Kinross Gold, Placer Dome, Majestic Diamonds and Metals Inc., and FMC Gold Company. Mr. Lionel Howes has resigned as COO of Angus Mining.

Angus Mining also announces that its Board of Directors has granted stock options in respect of an aggregate of 490,000 common shares to Mr. Olander and to ten Angus Mining employees. The stock options were granted under Angus Mining's Stock Option Plan.

The exercise price of the options is $0.52 per share, representing the closing price of Angus Mining's common shares on the TSX Venture Exchange on December 10, 2010. Each stock option entitles the holder to purchase one common share for a period of five years, subject to vesting provisions.

About Angus Mining (Namibia) Inc.

Angus Mining's goal is to deliver superior returns to shareholders by identifying and developing quality gold properties. Angus Mining is currently focusing on the Ondundu Gold Project in Namibia.

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.

Contact Information

  • Angus Mining (Namibia) Inc.
    Fraser Buchan
    President and CEO
    (416) 640-1933