Horizonte Minerals 1st Half Pretax Loss £0.69 Million Vs Loss £0.42 Million

Horizonte Minerals PLC (HZM.LN), an AIM quoted exploration and development company focused in Brazil, announced Monday it made a pretax loss of GBP0.69 million for six months ended June 30, 2010, compared with a narrower loss of GBP0.42 million.

MAIN FACTS:

-Revenue: nil (2009: nil)

-Operating Loss: GBP0.69 million (2009: GBP0.42 million)

-Loss per share: 1.16 pence (2009: Loss 1.02 pence)

-Net Cash: 0.49 million (2009: 1.28 million)

-Dividend: n/a

-New enlarged Horizonte is a focused nickel and gold exploration and development company in Brazil with the support of two mining majors Teck Resources and AngloGold

-Transformational deal completed in August 2010 to acquire 100% of the advanced Araguaia nickel project in the Carajás mineral district of northern Brazil

-Combination of Araguaia nickel project with Lontra project has the potential for a 100 million ton resource with grades comparable to other world class projects in Brazil

-Development plan in place to define a 43-101 resource at the Araguaia Nickel Project by the end of 1H, 2011

-Fully funded AngloGold three year exploration alliance to generate and develop new gold targets in Brazil - $5.3 million earn-in with first year minimum commitment of $0.9 million now completed

-$4.5 million 51% earn-in agreement signed up with AngloGold for Horizonte's Falcao gold project, located in northern Brazil - first year cash commitment of $900,000 in a three year agreement

-Continued evaluation of the Tangara gold project in Brazil by option partner Troy Resources NL

-Completed GBP5.1 million fundraising in August 2010 - strong treasury and a supportive institutional shareholder base

-Shares at 0821 GMT stood at 12.25 pence.

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [e-mail]

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