Kinross Now Owns 94.29% of Aurelian
September 30 2008 - 9:03AM
Marketwired Canada
Aurelian Resources Inc. (TSX:ARU) announced today that it has been informed that
Kinross Gold Corporation (TSX:K)(NYSE:KGC) has acquired an additional 5,412,884
common shares of Aurelian under its previously announced offer to acquire all of
the issued and outstanding common shares of Aurelian. Kinross now owns
144,102,344 common shares of Aurelian, representing approximately 94.29% of
Aurelian's issued and outstanding common shares (and approximately 93.67%,
excluding the 15 million shares acquired by Kinross prior to the offer).
Kinross made its offer on July 28, 2008 when it mailed a take-over bid circular
to Aurelian shareholders. The deposit period under the Kinross offer expired at
11:59 p.m. (Toronto time) on September 29, 2008. Kinross has also announced its
intention to exercise its statutory rights under the Canada Business
Corporations Act to compulsorily acquire the remaining common shares of Aurelian
that have not been deposited to the offer. Upon completion of the compulsory
acquisition, Kinross has announced that it intends to apply to de-list the
common shares of Aurelian from the Toronto Stock Exchange and to apply to
securities regulatory authorities for Aurelian to cease to be a reporting
issuer.
About Aurelian:
Aurelian Resources Inc. is a publicly-listed company engaged in exploring,
discovering and developing mineral wealth in Ecuador. The Fruta del Norte (FDN)
discovery lies at the heart of the Condor Project, located in south-eastern
Ecuador. The initial Inferred Mineral Resource for FDN was released in October
2007 and included 58.9 million tonnes grading 7.23 g/t gold and 11.8 g/t silver
for 13.7 million ounces of contained gold and 22.4 million ounces of contained
silver (Report titled "A Mineral Resource Estimate for the Fruta del Norte
Deposit, Cordillera del Condor Project, Zamora-Chinchipe Province, Ecuador" and
dated November 15, 2007 filed on www.sedar.com). Visit www.aurelian.ca for more
information.
Cautionary Statement on Forward-looking Information
Some of the statements contained herein may be forward-looking statements which
involve known and unknown risks and uncertainties. Without limitation,
statements regarding future political events, potential mineralization,
metallurgy and resources, exploration results, and future plans and objectives
of Aurelian are forward looking statements that involve various degrees of risk
and may not be within the control of Aurelian. The following are important
factors that could cause Aurelian's actual results to differ materially from
those expressed or implied by such forward looking statements: changes in the
world wide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development, construction
and mining operations, the uncertainty of future profitability, the uncertainty
of access to additional capital, and political risks in Ecuador.