CIC Mining Resources Ltd Repayment of Director's loans (8222W)

TIDMCICR

RNS Number : 8222W

CIC Mining Resources Ltd

31 January 2013

CIC Mining Resources Ltd.

("CIC" or the "Company")

Repayment of director's loans

The Board of CIC is pleased to announce that loans and advances by Director Stuart J. Bromley to the Company totalling CAD$1,115,820 are to be converted into new Common Shares in full satisfaction of these debts. No interest has been charged on the loans.

A total of 17,492,650 new Common Shares in the Company will be issued to Mr. Bromley at a price of 4 pence per share. In addition, Mr. Bromley will be issued with an equivalent number of warrants to subscribe for further Common Shares having an exercise price of 4 pence per share. (the new shares and warrants are together referred to as the ÒUnitsÓ). The Warrants must be exercised within 24 months of the date of grant.

The transaction will reduce debt of the Company in the current financial year.

The placing to Mr. Bromley is a related party transaction, being a transaction between a Director of the Company who also is a substantial shareholder, and CIC. The Independent Directors of CIC consider, having consulted with Cairn Financial Advisers LLP, the CompanyÕs Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

Enquiries

CIC Mining Resources Ltd

Rob Rhodes

Tel: +61 417 181 211

Nominated Adviser

Cairn Financial Advisers LLP

Tony Rawlinson

Tel: +44 (0)207 148 7900

CIC Mining Resources Ltd

The Company is an advisory company, operating primarily in the mining and energy infrastructure sectors. The Company seeks to provide advisory services to entities operating at various stages of development, and the exclusive right to control the public listing process of any client company if the client company is an unlisted company.

Mining and energy infrastructure companies or projects will include those involved in the exploration for, and extraction of, base metals, precious metals, bulk commodities, thermal and metallurgical coals, industrial metals, hydrocarbons, renewables and new technologies, including single-asset as well as diversified natural resources companies.

The core services provided by CIC Mining Resources are: the Advisory Service which provides a range of technical, project management, strategic and commercial services; the Strategic Investment Service which helps companies source investment from industry partners for which the Company will typically receive an equity interest; and Advice on Listings where the Company helps the client realise value by listing on a Stock Exchange. www.cicresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

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