Exercise of Warrants (7029C)

TIDMBZM

RNS Number : 7029C

Bellzone Mining PLC

10 March 2011

Bellzone Mining plc

("Bellzone" or the "Company")

Exercise of Warrants

Bellzone has applied to AIM for the admission to trading of 3,200,000 new ordinary shares of no par value in the capital of the Company following an exercise of warrants. These new shares will rank pari passu with the Company's existing ordinary shares and dealings are expected to commence on or about Wednesday, 16 March 2011.

Following the admission of the above shares the Company will have a total of 540,324,485 ordinary shares of no par value in issue.

Enquiries:

 
Bellzone Mining plc 
 Terry Larkan / Raj Kandiah                       +61 8 9420 8900 
Canaccord Genuity Limited 
 Nominated Adviser and Joint Broker to Bellzone 
 Andrew Chubb/Tarica Mpinga                       +44 (0)20 7050 6500 
Renaissance Capital Limited 
 Joint Broker to Bellzone 
 Simon Matthews/Thomas Beattie                    +44 (0)20 7367 7777 
Tavistock Communications                          +44 (0)20 7920 3150 
 Jos Simson/Paul Youens                            +44 (0)7843 260 623

Bellzone Mining plc

Bellzone Mining plc is an exploration and resource development company with iron ore and nickel / copper permits in the Republic of Guinea, West Africa.

The Company's flagship project, the Kalia iron mine, has a JORC resource of 3.74 billion tonnes, located on the Kalia I prospect. Drilling results and internal estimates indicate that Kalia prospect has the potential to host more than 10 billion tonnes of magnetite and 2.55 billion tonnes of potential oxide at surface.

In addition to the Kalia iron mine, an exploration and development programme is currently underway at the China International Fund ('CIF') held Forecariah iron permits that lie between 40 and 80 kms from the Guinea coast. Bellzone and CIF are jointly developing these near term production permits which are prospective for oxide and magnetite. The development plan is designed to support an initial production target rate of 3-4 mtpa of direct shipping ore ('DSO') in Q1 2012 ramping up to a target rate of 10 mtpa by 2013.

Bellzone is committed to the staged development of the Kalia iron project, which includes a 50mtpa iron ore facility, rail and port, with initial production scheduled in 2014. Stage one is planned to bring online 20mtpa direct shipping ore ('DSO') capacity in 2014 and a 10mtpa magnetite concentrator in 2015. Stage two increasing the DSO output to 30mtpa in 2017 and doubling the concentrate capacity to 20mtpa by 2018.

Bellzone signed an Infrastructure Accord with the Republic of Guinea giving the Company exclusive rights to the designated port and rail areas for purposes of conducting studies for the development of the infrastructure leading to the signing of a convention and concession. The infrastructure forms a key part of the Guinea Government's infrastructure strategy and will support the development of iron ore, bauxite and other minerals in Guinea through its availability for third party use.

On 2 August 2010, Bellzone announced signed definitive agreements with CIF. CIF will finance and develop the rail and port infrastructure and offer a finance package to Bellzone for the development of the Kalia mine in exchange for the first right to purchase 100% of the off-take of the Kalia mine at market price.

This information is provided by RNS

The company news service from the London Stock Exchange

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