MOY Moydow Mines

RNS Number:9770T
Moydow Mines International Inc
10 November 2005


FOR IMMEDIATE RELEASE                                           November 9, 2005

Moydow Issues Warrants Pursuant to Option Agreement in respect of the Port Loko
Bauxite Deposit in Sierra Leone.

Toronto, Ontario (TSX: MOY) -- Brian Kiernan, President and CEO of Moydow Mines
International Inc. ("Moydow"), announced that Moydow has issued 200,000 common
share purchase warrants to Gondwana (Investments) S.A. ("Gondwana") pursuant to
an option agreement entered into between Moydow, a Moydow subsidiary and
Gondwana in September 2004.  The warrants follow a prior issuance of 150,000
Moydow common shares that was completed effective September 8, 2004, and
complete the payment of consideration to Gondwana for granting an option to a
wholly owned subsidiary of Moydow to acquire an interest in the Port Loko
bauxite deposit in Sierra Leone, West Africa.  The warrants are exercisable at
CAN$0.38 until September 28, 2007.  Each warrant entitles the holder thereof to
acquire one common share in the capital of Moydow.

The option agreement between Moydow, Moydow's subsidiary and Gondwana grants
Moydow's subsidiary an option to acquire a 49% interest in the Port Loko deposit
upon the subsidiary incurring US$600,000 in exploration costs.  The option
agreement includes a secondary option that allows Moydow's subsidiary to acquire
a further 11% interest, for a total of 60%, in the Port Loko deposit upon
incurring an additional US$400,000 in exploration costs or producing a positive
feasibility study.  Please refer to Moydow's January 20, 2005 press release for
more information concerning the option agreement.

Moydow Mines International Inc. is engaged in the acquisition, exploration and
development of mineral properties worldwide. Corporate information is available
on the Company's website www.moydow.com. Moydow Mines is listed on the Toronto
Stock Exchange under the symbol "MOY".

"Signed"
Brian Kiernan
President & CEO


For further information please contact:
Michael Power, Vice President, Corporate Development at 416-703-3751


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
MSCBMBFTMMIBBMA

Moydow Mines (LSE:MOY)
Historical Stock Chart
From Jun 2024 to Jul 2024

Moydow Mines (LSE:MOY)
Historical Stock Chart
From Jul 2023 to Jul 2024