Avesoro Resources Inc. CHANGE OF NOMAD AND APPOINTMENT OF JOINT BROKER (6263H)

TIDMASO

RNS Number : 6263H

Avesoro Resources Inc.

14 March 2018

14 March 2018

Avesoro Resources Inc.

TSX: ASO

AIM: ASO

CHANGE OF NOMINATED ADVISOR AND APPOINTMENT OF JOINT BROKER

Avesoro Resources Inc., ("Avesoro" or the "Company"), the TSX and AIM listed West African gold producer, is pleased to announce that finnCap Limited has been appointed as Nominated Advisor ("Nomad") and Joint Broker to the Company with immediate effect.

The Company's advisory group now consists of finnCap, acting as Nomad and Joint Broker, with Berenberg and Hannam and Partners (Advisory) LLP acting as Joint Brokers.

Contact Information

 
 Avesoro Resources Inc.         Camarco 
  Geoff Eyre / Nick Smith        Gordon Poole / Nick 
  Tel: [phone]       Hennis 
                                 Tel: [phone] 
                                 4980 
-----------------------------  ---------------------------- 
 finnCap                        Berenberg 
  (Nominated Adviser and         (Joint Broker) 
  Joint Broker)                  Matthew Armitt / Charlotte 
  Christopher Raggett /          Sutcliffe 
  Scott Mathieson / Emily        Tel: [phone] 
  Morris. Tel: +44(0) 20         7800 
  7220 0500 
-----------------------------  ---------------------------- 
 Hannam & Partners 
  (Joint Broker) 
  Rupert Fane / Ingo Hofmaier 
  / Ernest Bell 
  Tel: [phone] 
-----------------------------  ---------------------------- 
 

About Avesoro Resources Inc.

Avesoro Resources is a West Africa focused gold producer and development company that operates three gold mines across West Africa and is listed on the Toronto Stock Exchange ("TSX") and the AIM market operated by the London Stock Exchange ("AIM"). The Company's assets include the New Liberty Gold Mine in Liberia (the "New Liberty Gold Mine" or "New Liberty") and the Youga and Balogo Gold mines in Burkina Faso ("Youga" and "Balogo").

New Liberty has an estimated proven and probable mineral reserve of 7.4Mt with 717,000 ounces of gold grading 3.03g/t and an estimated measured and indicated mineral resource of 9.6Mt with 985,000 ounces of gold grading 3.2g/t and an estimated inferred mineral resource of 6.4Mt with 620,000 ounces of gold grading 3.0g/t. The foregoing Mineral Reserve and Mineral Resource estimates and additional information in connection therewith is set out in an NI 43-101 compliant Technical Report dated November 1, 2017 and entitled "New Liberty Gold Mine, Bea Mountain Mining Licence Southern Block, Liberia, West Africa" and is available on SEDAR at www.sedar.com.

Ndablama has an estimated indicated mineral resource of 7.6Mt with 386,000 ounces of gold grading 1.6 g/t and inferred mineral resource of 9.6Mt with 515,000 ounces of gold grading 1.7 g/t. Weaju has an inferred mineral resource of 2.7Mt with178,000 ounces of gold grading 2.1 g/t. The foregoing Mineral Resource estimates and additional information in connection therewith is set out in an NI 43-101 compliant Technical Report dated December 1, 2014 and entitled "Ndablama and Weaju Gold Projects, Bea Mountain Mining Licence Northern Block, Liberia, West Africa" and is available on SEDAR at www.sedar.com.

Youga and Balogo have a combined estimated proven and probable mineral reserve of 9.3Mt with 513,000 ounces of gold grading 1.7g/t and a combined estimated indicated mineral resource of 16.05Mt with 801,600 ounces of gold grading 1.55g/t and a combined inferred mineral resource of 13Mt with 655,000 ounces of gold grading 1.57g/t. The foregoing Mineral Reserve and Mineral Resource estimates and additional information in connection therewith is set out in two NI 43-101 compliant Technical Reports, dated June 16, 2017 entitled "Mineral Resource and Mineral Reserve Update for the Balogo Project" and dated June 19, 2017 and entitled "Mineral Resource and Mineral Reserve Update for the Youga and Ouaré Projects" and are available on SEDAR at www.sedar.com.

For more information, please visit www.avesoro.com

Qualified Persons

The Company's Qualified Person is Mark J. Pryor, who holds a BSc (Hons) in Geology & Mineralogy from Aberdeen University, United Kingdom and is a Fellow of the Geological Society of London, a Fellow of the Society of Economic Geologists and a registered Professional Natural Scientist (Pr.Sci.Nat) of the South African Council for Natural Scientific Professions. Mark Pryor is an independent technical consultant with over 25 years of global experience in exploration, mining and mine development and is a "Qualified Person" as defined in National Instrument 43 -101 "Standards of Disclosure for Mineral Projects" of the Canadian Securities Administrators and has reviewed and approved the scientific and technical disclosures contained in this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 14, 2018 03:02 ET (07:02 GMT)