Cluff Gold PLC

Cluff Gold PLC

August 04, 2011 12:12 ET

Cluff Gold Plc: Exercise of Options

LONDON, UNITED KINGDOM--(Marketwire - Aug. 4, 2011) - Cluff Gold (AIM:CLF)(TSX:CFG), the dual AIM/TSX-listed West African-focused gold mining company, announces that today the Company approved and issued 10,000 ordinary shares ("Ordinary Shares") of 1 pence each in the Company (the "New Ordinary Shares"). The New Ordinary Shares are being issued pursuant to the exercise of options. Application has been made for the New Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange ("Admission").

Admission and dealings in the New Ordinary Shares are expected to become effective on 10 August 2011. The New Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Following Admission, the total issued share capital of the Company will be 131,852,026 Ordinary Shares, all of which have voting rights.

The above figure 131,852,026 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of Cluff Gold under the FSA's Disclosure and Transparency Rules.

About Cluff Gold

Cluff Gold is a gold developer-producer with assets in West Africa. The Company generates significant cash flow through its Kalsaka gold mine in Burkina Faso. The Company remains focused on its objective of becoming a mid-tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 157,000oz of gold per annum, with significant exploration potential along strike. With its experience of bringing new mines into production and a project pipeline of exploration licences, the Company aims to further increase its production profile with its highly prospective exploration work across all assets.

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, the positioning of the Company for future success, and statements regarding mine life extension and economic potential in Africa, are forward-looking information that involve various risks and uncertainties. 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. Important factors that could cause actual results to differ materially from Cluff Gold's expectations include, among others, risks related to international operations, political risks, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.


Contact Information

  • Cluff Gold plc
    J.G. Cluff
    +44 (0) 20 7340 9790

    Cluff Gold plc
    Carrie Lun
    Investor Relations Manager
    +44 (0) 20 7340 9790

    Evolution Securities Limited
    Jeremy Ellis/Tim Redfern
    +44 (0) 20 7071 4300

    Pelham Bell Pottinger
    Charles Vivian
    Investor Relations (Global)
    +44 (0) 20 7861 3232

    Pelham Bell Pottinger
    Lorna Spears
    Investor Relations (Global)
    +44 (0) 20 7861 3232

    Farm Street Communications Ltd
    Simon Robinson
    Press Relations (U.K.)
    +44 (0) 7593 340 107