Option Exercised on Rukwa Coalfield Project

RNS Number : 3108K

Edenville Energy PLC

20 August 2012

 



20^th August 2012

EDENVILLE ENERGY PLC ("Edenville" or the "Company")

Option Exercised on Rukwa Coalfield Project, Tanzania

Edenville Energy plc (AIM:EDL), the coal focused African energy exploration and development company, today announces that it exercised its second option on the Rukwa Coalfield project in south western Tanzania, as per the agreement dated 16^th August 2010.

This now takes the Company's interest in two prospecting licences ("PL") and 66 primary mining licences ("PML") to 90% with the remaining 10% held by the local partner on the project. The second option payment was for a total of US$100,000.

Simon Rollason, Chairman of Edenville, commented today; "I am delighted to announce that we have exercised our second option to increase our interest in the Rukwa coalfield project. This clearly demonstrates our belief that this exciting project has scope to increase in size. To date we have identified a Maiden inferred resource of 39 million tonnes which we expect to be expanded with the resource category upgraded in parts, providing increased confidence to the quantity and quality of Edenville's existing resource at the Mkomolo coal project. Additional diamond core drilling will be completed at Namwele and Muze during the current field season."

Contact:

Edenville Energy plc
Simon Rollason - Chairman Rakesh Patel - Finance Director www.edenville-energy.com	[phone]
ZAI Corporate Finance Ltd
Ray Zimmerman/ Marc Cramsie	[phone]
Newgate Threadneedle
Grahame Herring/Richard Gotla	[phone]

 

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