ACACIA MINING PLC South Houndé Project Update

 
TIDMACA 
 
28 November 2018 
 
                               Acacia Mining plc 
 
                                   LSE: ACA 
 
                          ("Acacia" or the "Company") 
 
                          South Houndé Project Update 
 
Acacia has signed a binding conditional agreement with its partner, Sarama 
Resources Ltd. ("Sarama") (TSX-V:SWA), to terminate the earn-in agreement in 
respect of the South Houndé Project (the "Project") in south-western Burkina 
Faso. The termination of the earn-in agreement is conditional on definitive 
documentation being agreed by the parties before April 30, 2019. 
 
Acacia's divestment of South Houndé fits with the Company's strategy of 
divesting certain non-core assets as part of an ongoing review of its 
exploration portfolio. 
 
The agreement will allow Sarama to move to 100% ownership of the Project by 
making a payment of US$2 million in staged payments. Acacia will also receive 
US$2 million once commercial production commences and retain an improved net 
smelter return royalty (NSR) of 1-2%, based on a sliding rate basis on gold 
price received and a capped gold production of 1Moz Au. In addition, Acacia 
will be granted 5 million warrants for common shares in Sarama, exercisable for 
five years. 
 
Acacia remains committed to exploration in Burkina Faso with various earn-in 
agreements still active and which provide exposure to approximately 2,000 km² 
of the prospective Houndé Belt. 
 
ENQUIRIES 
 
For further information, please visit our website: www.acaciamining.com or 
contact: 
 
Acacia Mining plc                    [phone] 
 
Sally Marshak, General Manager - Investor Relations & Communications 
 
Camarco                             [phone] 
 
Gordon Poole / Nick Hennis 
 
About Acacia Mining plc 
 
Acacia Mining plc (LSE:ACA) is the UK holding company of the Acacia Group, 
Tanzania's largest gold miner and one of the largest producers of gold in 
Africa. The Acacia Group has three mines, all located in north-west Tanzania: 
Bulyanhulu, which is owned and operated by Bulyanhulu Gold Mine Limited, 
Buzwagi, which is owned and operated by Pangea Minerals Limited and North Mara, 
which is owned and operated by North Mara Gold Mine Limited. 
 
The Acacia Group also has a portfolio of exploration projects in Kenya, Burkina 
Faso and Mali. Acacia is a UK public company headquartered in London. We are 
listed on the Main Market of the London Stock Exchange with a secondary listing 
on the Dar es Salaam Stock Exchange. Barrick Gold Corporation is our majority 
shareholder. 
 
Disclaimer and forward-looking statements 
 
This announcement is for information purposes only and does not constitute an 
invitation or offer to underwrite, subscribe for or otherwise acquire or 
dispose of any securities of Acacia in any jurisdiction. This announcement 
includes "forward-looking statements" that express or imply expectations of 
future events or results as opposed to historical facts. These statements 
include, financial projections and estimates and their underlying assumptions, 
statements regarding plans, objectives and expectations with respect to future 
production, operations, costs, projects, and statements regarding future 
performance. Forward-looking statements are generally identified by the words 
"plans," "expects," "anticipates," "believes," "intends," "estimates" and other 
similar expressions. All forward-looking statements involve a number of risks, 
uncertainties and other factors, many of which are beyond the control of 
Acacia, which could cause actual results and developments to differ materially 
from those expressed in, or implied by, the forward-looking statements 
contained herein. Factors that could cause or contribute to differences between 
the actual results, performance and achievements of Acacia include, but are not 
limited to, changes or developments in political, economic or business 
conditions or national or local legislation or regulation in countries in which 
Acacia conducts - or may in the future conduct - business, industry trends, 
competition, fluctuations in the spot and forward price of gold or certain 
other commodity prices (such as copper and diesel), currency fluctuations 
(including the US dollar, South African rand, Kenyan shilling and Tanzanian 
shilling exchange rates), Acacia's ability to successfully integrate 
acquisitions, Acacia's ability to recover its reserves or develop new reserves, 
including its ability to convert its resources into reserves and its mineral 
potential into resources or reserves, and to process its mineral reserves 
successfully and in a timely manner, Acacia's ability to complete land 
acquisitions required to support its mining activities, operational or 
technical difficulties which may occur in the context of mining activities, 
delays and technical challenges associated with the completion of projects, 
risk of trespass, theft and vandalism, changes in Acacia's business strategy 
and ongoing implementation of operational reviews, as well as risks and hazards 
associated with the business of mineral exploration, development, mining and 
production and risks and factors affecting the gold mining industry in general. 
Although Acacia's management believes that the expectations reflected in such 
forward-looking statements are reasonable, Acacia cannot give assurances that 
such statements will prove to be correct. Accordingly, investors should not 
place reliance on forward-looking statements contained in this announcement. 
Any forward-looking statements in this announcement only reflect information 
available at the time of preparation. Save as required under the Market Abuse 
Regulation or otherwise as may be required under applicable law, Acacia 
explicitly disclaims any obligation or undertaking publicly to update or revise 
any forward-looking statements in this announcement, whether as a result of new 
information, future events or otherwise. Nothing in this announcement should be 
construed as a profit forecast or estimate and no statement made should be 
interpreted to mean that Acacia's profits or earnings per share for any future 
period will necessarily match or exceed its historical published profits or 
earnings per share. 
 
 
 
END 
 

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November 28, 2018 02:00 ET (07:00 GMT)