Appointment of Chief Financial Officer

July 27, 2011


July 27, 2011

Aureus Mining Inc.



Appointment of Chief Financial Officer

Aureus Mining Inc. (“Aureus” or the “Company”) announces that Paul Thomson has been appointed as Chief Financial Officer effective September 1, 2011. Paul is a Chartered Accountant and has extensive accounting and corporate finance experience gained over 14 years with Ernst & Young and, more recently, as a Senior Manager within the Business Development Group at Kazakhmys Plc., where he was heavily involved in project financing and development along with significant mergers and acquisitions activity.

David Reading, President and CEO of Aureus, commented:

“We welcome Paul to Aureus and the breadth of knowledge he brings with him. Paul’s expertise, especially in the areas of project financing and M&A, will be invaluable to the Company as we progress through feasibility at New Liberty and beyond.”

Contact Information 

Aureus Mining Inc.

David Reading, CEO

Tel: +44 (0) 20 7257 2930


Bobby Morse / Katharine Sutton

Tel: +44 (0) 20 7466 5000

Evolution Securities Limited 

Nominated Adviser and Joint Broker

Jeremy Ellis / Neil Elliot

Tel: +44 (0) 20 7071 4300

RBC Capital Markets 

Joint Broker

Martin Eales / Jonathan Hardy

Tel: +44 (0) 20 7653 4000

About Aureus Mining Inc.

The Company’s assets include the New Liberty gold deposit in Liberia (the “New Liberty Gold Project”), which has an estimated Indicated Mineral Resource of 751,000 ounces of gold grading 4.17 g/t (contained in 5,599,000 tonnes) and an estimated Inferred Mineral Resource of 762,000 ounces of gold grading 3.40 g/t (contained in 7,040,000 tonnes). A preliminary economic assessment (“PEA”) of the New Liberty Gold Project filed in December 2010 outlined a robust open pit gold mine with a pre-tax NPV of US$234 million based on an $1100/oz. gold price and a 10% discount rate. The PEA outlined an 8.5 year mine life with approximate production of 100 000 ounces per year in the first five years. The New Liberty Gold Project is being advanced through to a definitive feasibility study.

The New Liberty Gold Project locates within the Bea Mountain mining license which covers 457 km2 and has a 25 year, renewable, mineral development agreement. The Bea Mountain mining license also hosts the proximal gold targets of Ndablama, Weaju, Silver Hills and Gondoja which are the focus of exploration programs during 2011.

The Company also has gold assets within exploration properties in Sierra Leone and Cameroon.

Qualified Person

The Company’s Qualified Person responsible for preparing this release is David Reading, who holds a MSc in Economic Geology from University of Waterloo, Canada and is a Fellow of the Institute of Materials, Minerals and Mining. David Reading is the President and CEO of Aureus Mining Inc. and consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.