VMS Ventures Inc.  updates various activities related to its extensive property package in Manitoba, Canada.

Sails Lake

Although optioned as a VMS project, the Sails Lake property is also well known to host gold mineralization. A soil geochemical survey was undertaken in late July to follow up on prospecting and historical exploration that discovered gold mineralization at Sails Lake. In this particular area, surface rock chip samples have returned assays of up to 30 grams per tonne gold, but they have never been drilled or surveyed by ground geophysics. An IP ground geophysical survey is planned to cover the gold targets later this month. It will also test adjacent areas prospective for copper-zinc.

This project has already produced over 50 discrete drill targets. They are now being evaluated to select the best prospects for drilling. Permitting for the planned mid-October drill program is now in process.

Morton Lake

The Company originally staked the Morton Lake project, located 25 km west of Snow Lake, in part, because of its geological similarity to the rocks hosting the past producing Dickstone copper-zinc mine, only 500 metres to the west. In addition, historic drill holes, some as early as 1956, intersected copper and zinc mineralization with typical VMS-type alteration, indicative of a strong hydrothermal mineralizing system, capable of hosting significant VMS deposits.

The project moved up the VMS Ventures priority list this summer after Dr. Alan Bailes visited the Reed Lake Deposit and used high precision rock geochemistry to assist with geological interpretations. He discovered that the host rocks at the Reed Lake Deposit are connected to the same rock package hosting the Dickstone Mine and Morton Lake approximately 30 km north of Reed Lake.

As a result, the Company has doubled its land position in the area, including the prospective rock package to the south towards Reed Lake. The Morton Lake Project now is over 23 km in length and approximately 90 sq km in area.

VMS has previously surveyed the northern half of the property with the VTEM airborne system. In late July, VMS geologists began a program of MMI soil geochemistry over the VTEM anomalies. These prioritized VTEM targets occur along strike from, and at greater depths than, the prospective mineralized zones identified from historical data. These anomalies comprise the preliminary list of drill targets. Additional targets will be established following completion of ongoing field work and final review of the historical data base. An initial drill program is planned for winter 2011.

Copper Project

Advances in exploration technology have created new opportunities in old areas. The VMS discovery at Reed Lake indicates the prospectivity of the “covered” areas of the Snow Lake belt, and how using old data sets with new methodologies and insights can help the Company locate drill targets in areas that in the past may have been ignored, left behind, or missed completely.

Most of the 250 sq km Copper Project, located to the east of Snow Lake, is covered with a 25 to 40 metre thick dolomite rock layer. With no outcropping of the prospective volcanic rock, the team is effectively blind to the property’s geology. To rectify this, the team has analyzed and integrated data from over 200 drill holes’ historical records into the Copper Project database over the summer. These historical drill records provide a description of the underlying geology at this large, prospective property.

Other sources of information assisting the team in drill targeting include the VTEM airborne conductivity and magnetic geophysical surveys and soil geochemical sample surveys.

VMS plans to drill at the Copper Project in winter 2011.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company’s VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

The proceedings from the “Airborne Gravity 2010″ workshop at the recent 2010 ASEG-PESA 21st International Geophysical Conference and Exhibition are available for download from the Geoscience Australia website: https://www.ga.gov.au/products/servlet/controller?event=GEOCAT_DETAILS&catno=70673

The Airborne Gravity 2010 workshop was held in Sydney on August 22.
The objective of this workshop was to provide a review of the advances in airborne gravity since the Airborne Gravity 2004 Workshop, also held in Sydney (see GA Record 2004/18).

The Airborne Gravity 2010 workshop presentations followed four themes:
1) Current operating airborne gravity and gravity gradiometry systems
2) Developing airborne gravity and gravity gradiometry systems
3) Advances in processing and interpretation software
4) Review of complementary technologies

Silvore Fox Minerals Corp. reports that it has entered into a contract with Aeroquest International Ltd. (“Aeroquest”) to conduct a comprehensive airborne geophysical survey over the Corporation’s flagship Coxheath copper porphyry property in Nova Scotia, Canada. Aeroquest will fly a 462 line-kilometre survey of high resolution Aero TEM IV MAG-TDEM and Radiometrics over areas of interest encompassing the Corporation’s mineral claims at Coxheath.

In addition, the Corporation has also contracted CGI Controlled Geophysics Inc. (“CGI”) to manage this airborne program on behalf of the Corporation. CGI has extensive experience with modern geophysical techniques, data processing, project management and geophysical interpretation.

This phase of the exploration program, as per the Corporation’s Press Release dated May 28^th, 2010, is designed to provide new geoscientific information to help further the understanding of the mineral potential of the property. The results of the survey will aid in delineating the potential size and scope of the property’s structural framework and associated copper, gold, silver and molybdenum mineralization. In addition, the survey will provide important information on highly prospective and underexplored areas of the property, including the newly expanded, contiguous mineral rights. Follow-up field-work will focus on ground-truthing the results of this survey and the integrated data will be applied to develop a diamond drilling program that is anticipated to begin in September 2010. The details of the diamond drill program will be released at a later date.

“I am optimistic that the results of this survey will greatly advance our understanding of the geology and mineralization at Coxheath,” states Harry Cabrita, President and CEO. ”It will further enhance the efficiency of the exploration program that will have the assessment of economic significance as its primary objective.”

Kirrin Resources Inc. today announced the results of the evaluation and interpretation of the 1,076 line-km magnetic-electromagnetic (Tempest(R) EM) airborne survey of the Key Lake Southwest (‘Key Lake SW’) uranium property located on the southeastern margin of the Athabasca Basin in Saskatchewan. The Condor Consulting Inc. report identified 7 first priority, 5 second priority and 7 third priority targets that warrant follow-up assessment. Some of these anomalies correlate with geological, geophysical or geochemical anomalies identified from prior exploration, whereas others are newly identified. All are prospective for ingress style (i.e., basement hosted) uranium deposits along the geologically favourable Wollaston Group basement trend.

Commenting on the results, Kirrin President and CEO, Derek J Moran said: “These results have added substantial value to the Key Lake SW uranium project, and show clearly its potential for another eastern Athabasca uranium discovery.”

Processing, interpretation and correlation of the results with magnetic response and geology define two main types of conductors, discrete plate-type and broader, flat lying wide zones (Note 1). These have been further grouped by Condor into 19 target zones and subjectively ranked, according to their conductivity, magnetic association, strike extent and geological association, from high to low priority, with 7 target zones being ranked first priority. Historic wide-spaced drilling on parts of four of the 19 target zones identified prospective geology, including a possible sub-Athabasca Group regolith that was logged in several holes which are located within a Wide Zone EM conductor.

The number one priority target zone has good potential for uranium mineralization because significant uranium values within wide zones of graphitic pelites have been intersected in drill holes targeted along the northeastern extension of this conductor lying within Triex’s Riverlake and Forum Uranium’s Orchid properties. There are 9 other target zones (for a strike length of 52.9 km) which display similar geological and geophysical conductive and magnetic characteristics as observed on adjoining properties and over other uranium deposits in the region and thus are ranked as having high potential for uranium mineralization. The survey also showed that some target zones at Key Lake SW have potential for base metal mineralization or iron formation similar to the geological horizons mapped in the McArthur River mine.

Kirrin is planning the next stage of exploration at Key Lake SW. Follow-up fieldwork at selected first priority targets is likely to comprise (a) systematic prospecting of anomalous conductive trends to prioritise drill targets along those trends, (b) follow-up geochemical lake sediment and possibly soil surveys, (c) magnetic and electro-magnetic surveys on grid areas established over first priority target zones in order to locate conductive axes and attitudes for drill collar positioning, and (d) drill testing of selected targets.

Note1: Magnetic surveys, structural geology, drill and surface geochemistry compiled over the eastern portion of the Athabasca Basin indicate that uranium enrichment and deposits are associated with conductive horizons, located within or along magnetic low troughs, which typically represent graphitic and sometimes magnetite rich iron formations and associated contacts. These horizons are flanked or sandwiched between magnetic highs, which represent underlying Archean type granitoid domes or arches. The reduced magnetism is caused by regional faults, which provide control and form traps for uranium enrichment. The graphitic rich pelite horizons in the basement rock are excellent conductors and host uranium mineralization. They act as markers as they can be located with electromagnetic surveys and targeted with drill holes.

MacDonald Mines Exploration Ltd.  announces that it has finalized an agreement to acquire 100% of the Hornby and Pender Properties, located in the “Ring of Fire” area of the James Bay Lowlands, with Temex Resources Corp. An exploration update follows the agreement details below.

The Hornby Property

MacDonald Mines Hornby Property is located contiguous to the KWG/Spider “Big Daddy” chromite deposit. The Company believes, based on a total review of its airborne survey and historical exploration data, that the Hornby Property has the potential to host the extension of the Big Daddy deposit.

The Property also exhibits prospective volcanogenic massive sulfide (VMS) (copper, zinc and lead) geophysical targets and is on same stratigraphy as Spider/KWG McFauld’s Lake VMS discovery. Historical drilling in the proximity of this prospective target intersected VMS mineralization.

Exploration Update

As detailed in the Company’s recent press releases, MacDonald Mines has several significant mineral opportunities across multiple properties in the James Bay Lowlands. The spring 2010 drill program consisting of 26 holes, 4,471 meters and focused on the McNugget Property and identified new VMS mineralization of substance on four fold limbs.

A summary of the highlighted drill holes reported were as follows;

Copper (Cu)

• Hole MN10-102 intersected 1.03% over 15 metres
• Hole MN10-111 intersected 1.04% over 5 metres
• Hole MN10-90 intersected 1.11% over 5 metres

Zinc (Zn)

• Hole MN10-104 intersected 3.3% over 9 metres
• Hole MN10-106 intersected 2.55% over 4 metres
• Hole MN10-110 intersected 2.82% over 5 metres
• Hole MN10-102 intersected 2.5% over 3 metres
• Hole MN10-104 intersected 2.00% Zn and 0.88% Cu over 6 metres

Silver (Ag)

• Hole MN10-87 intersected 13.32 g/t over 5.3 metres
• Hole MN10-94 intersected 16.56 g/t over 4 metres
• Hole MN10-102 intersected 11.67 g/t over 3 metres
• Hole MN10-104 intersected 11.97 g/t over 3 metres

Final assays from this last phase of drilling are pending and will be reported once they have been received and reviewed by the Company.

This large VMS system, which is open in all directions and yields VMS mineralization over a potential cumulative strike length of approximately 20 kilometres, was described by consulting geologist Hadyn R. Butler, P.Geo, as potentially being a new VMS camp.

Next Phase of Drilling to Commence Early September With 2 Drills

Crone Geophysics’ down-hole and surface EM system was employed in the previous phases of exploration, assisting in the discovery of the four VMS mineralized fold limbs, and will again be utilized for the upcoming drill program for drill target control.

The Company will continue to operate two drills for this upcoming drill program and will focus on the positive results from its successful spring 2010 drilling program on the McNugget Property.

Targeting Nickel and VMS on McNugget Property

VMS

The pyrrhotite-chalcopyrite-sphalerite-pyrite mineralization observed in the core of the McNugget property is indicative of VMS mineralization. The pattern of chlorite and sericite alteration, coupled with varying Cu/Zn ratios and alteration index plots from available geochemistry, indicates that there are at least three separate hydrothermal discharge vents/centres found within the same stratigraphic horizon of a large fold complex (McNugget).

Sulphide mineralization observed in drill core generally appears between footwall metasediments and hangingwall felsic volcanics, a lithologic sequence indicative of a Bimodal-Siliciclastic VMS environment.

Based on alteration mineralogy, geochemical vector analysis and 3-D geophysical modelling, it appears that the significant VMS mineralization intersected to date is peripheral to the volcanic centres (sources).

The Company’s current information is pointing to the Fold Nose found on the property as the most immediate prospective appreciable VMS mineralization. A surface and airborne electromagnetic (EM) survey are currently underway on the Fold Nose – and these results will direct the drilling program.

Nickel

The highest priority nickel target on the McNugget property remains to be in the vicinity of MN07-39. A completion of the airborne magnetic and EM, and Noront Resources’ recent image of the Eagles Nest indicates that the same magnetic horizon extends from the Noront discovery through the McNugget property – adjacent to MN07-39. Prior to further drilling, this area will be investigated further using the following geophysical techniques – VTEM and AeroTEM IV, magnetics, and Crone Geophysics surface and down-hole pulse EM system.

Several radio transmitters operate throughout the world in the VLF range, 15-30 kHz, and are used mainly for marine navigation, communication with submersed submarines, and other purposes.  The principle of VLF subsurface exploration is simple.  At large distances from the transmitter, the EM field is effectively planar and horizontal.  A conductor that strikes in the direction of the transmitter is cut by the magnetic vector, and these primary magnetic fields cause electric currents to flow in subsurface conductors.  In another, more recent, theory, the subsurface currents flow along interfaces between bodies of differing conductivity.

The Very Low Frequency (VLF) radio spectrum extends from 3 to 30 kHz. Standard communications receivers do not receive signals that low in frequency. Furthermore, most antennas used with standard communications receivers are optimized for higher frequencies and perform poorly in the VLF spectrum. Because of that, few Radio Amateurs or shortwave listeners have ever heard VLF signals and most know very little about the large number of stations in that part of the spectrum, what those stations are used for, or the nature of VLF radio signal propagation.

However, because VLF receivers and receiving antennas are easy to construct, the VLF spectrum attracts a small number of curious and sometimes very dedicated VLF listeners who want to learn more about this little-known and somewhat secretive part of the radio spectrum.

Signals from powerful VLF stations can be received worldwide. They penetrate deep into the earth and deep into the sea (especially in the lower portion of the VLF spectrum) and therefore can be received by submerged submarines. Though some VLF stations have other purposes, the primary function of most VLF stations is to communicate with submerged military submarines or help them navigate underwater.

http://www.smeter.net/stations/vlf-stations.php

http://sidstation.lionelloudet.homedns.org/stations-list-en.xhtml

Shear Minerals Ltd. today announced the discovery of the new high interest SAZ kimberlite float and the commencement of the $500,000 exploration program at the Chesterfield Inlet Diamond Project, Nunavut in partnership with Rio Tinto Exploration Canada Inc. (“Rio”) and Stornoway Diamond Corporation.

Already completed this year is a 2,346 line km ultra-high resolution airborne magnetic geophysical survey over two priority blocks by Aeroquest.  A total of 33 priority targets have been chosen as large tonnage kimberlite targets.  A 10-person experienced crew is currently at the Josephine Lake Camp and will follow up targeted anomalies on the ground. A total of 7-10 high priority targets will be tested using a lightweight reverse circulation percussion drill (tests one target per day).

“The goal for this project in 2010 is to discover new kimberlites with large tonnage potential. The discovery of the new SAZ kimberlite float suggests the presence of high diamond potential kimberlites in the Chesterfield area,” said Pamela Strand, President and CEO of Shear Minerals Ltd. “With drilling now underway we hope to quickly confirm whether a target is a high diamond potential kimberlite to warrant further follow-up.”

SAZ Kimberlite Float
The SAZ kimberlite float was discovered by prospecting in a series of nine frost boils within a 65m area. The kimberlite fragments are weakly magnetic, angular and are believed to be proximal to the source. Visually the kimberlite is described as being ‘typical’ of the high diamond potential kimberlites at Churchill (“Type B”) with large olivine macrocrysts, green-blue phlogopite and visible pyrope garnets.  Samples have been collected for diamond analysis by way of caustic fusion as well as petrography. Plans are to review the geophysics with continued prospecting in this immediate area.

About the Project and Shear Minerals
The Project comprises a group of 35 mineral claims (70,000 acres) located within and near the North Corridor of the larger Churchill Diamond Project.  The Project area is located approximately 15 km north of the Josephine River Corridor.  This area covers the North Corridor, an indicator mineral dispersion area based on till samples from 2003-2006 having high count probe-confirmed kimberlitic indicator minerals including pyrope garnet, eclogitic garnet, chrome diopside, ilmenite and chromite.

Peregrine Diamonds Ltd. reports the discovery of two new kimberlites, named Q1 and Q2, by prospecting on the Company’s 854,000 hectare Qilaq project (“Qilaq” or “the Project”) on Baffin Island, Nunavut, Canada. Qilaq is located on Hall Peninsula, northeast of Iqaluit, the capital of Nunavut, and is adjacent to Peregrine’s Chidliak project (“Chidliak”) where, as reported in a news release on August 4, 2010, the Company has discovered 32 kimberlites in the past two years.

In the spring of this year, Peregrine conducted a 670 line-kilometre helicopter airborne geophysical survey on what represents less than 2% of Qilaq’s area. The 12 geophysical anomalies that were found from this limited survey were prospected and will be prioritized for ground geophysics to be followed by drilling next year. A larger airborne geophysical survey is also being planned for next spring.

Mr. Eric Friedland, Peregrine’s CEO stated “The recent discovery of two kimberlites at surface at Qilaq by prospecting shows that the kimberlite district we have discovered on south Baffin Island continues to expand substantially in area and that this region has excellent potential to host another Canadian diamond mine. Our targeting and exploration methods are producing new kimberlite discoveries at a very rapid pace in Nunavut, and we look forward to more discoveries at Qilaq in the near future. The fact that Qilaq is wholly-owned by Peregrine is especially exciting for our shareholders as it allows us to benefit fully from the value that could result from the potential development of the Project.”

Q1 KIMBERLITE

The spring 2010 helicopter-borne magnetic/electromagnetic geophysical survey revealed a magnetic high anomaly with an estimated diameter of 150 metres associated with a topographic depression that measures approximately 60 metres by 50 metres. Subsequent prospecting led to the discovery of the Q1 kimberlite, represented by large concentrations of coarse-grained KIMs, and kimberlite cobbles and boulders on the surface. Both magmatic kimberlite and probable weathered kimberlite breccia boulders were identified. Pyrope garnet, picroilmenite and chrome diopside grains over 10 millimetres in size were observed on the surface. Clasts of limestone, shale and sandstone, interpreted to have weathered from the kimberlite, are also present on the surface.

Q2 KIMBERLITE

The Q2 kimberlite is located approximately four kilometres south of the Q1 kimberlite and outside of the 2010 airborne geophysical survey. Q2 was discovered through the identification of kimberlite boulders by a field crew that was collecting a follow-up till sample. Subsequent prospecting led to the discovery of two kimberlite outcrops within a surface depression that is more than 80 metres in diameter. At least two phases of kimberlite were identified. One phase is described as being magmatic without limestone xenoliths and the other phase has coarser grained olivine and KIMs and contains limestone xenoliths. Both phases contain olivine, picroilmenite, pyrope garnet and chrome diopside macrocrysts.

Samples from the Q1 and Q2 kimberlites are being sent to the Saskatchewan Research Council for diamond analysis by caustic fusion and results will be reported as they become available. If the diamond results are positive, Q1 and Q2 will be scheduled for drilling as early as possible next year. An exploration summary showing the two new kimberlite discoveries is available athttp://www.pdiam.com/i/pdf/qilaq632.pdf.

QILAQ EXPLORATION UPDATE

Over 300 follow-up sediment samples, related to the seven KIM anomalies identified in 2009, are currently being collected in addition to the prospecting of anomalies revealed from the 2010 airborne geophysical survey in anticipation of a drilling program that is being planned for the next field season. Follow-up geochemical and rock sampling, prospecting and mapping related to precious metals anomalies identified in 2009 is also underway this field season.

A recently released helicopter-airborne geophysical survey completed by the Geological Survey of Canada (GSC) covered a portion of the southern part of the Kootenay Arc in southwestern BC, including most of the Company’s Nox Fort Property.

The Nox Fort Property, located southwest of Salmo, contains several gold prospects including a number of high-priority exploration targets. The geology of the Property is diverse, consisting of pelitic and volcanic sediments, and large granitic intrusions which, at their contacts holds the potential for Reduced Intrusion Related Gold Deposits (RIRGD). The former Bunker Hill mine in the center of the Property is recognized as a RIRGD-type Au-Bi-Te prospect. Other gold occurrences are known including the Bluestar showing which contains gold along with silver and elevated copper, lead and zinc values. The Property has not been a target for base metal exploration by the Company although a past producer, Remac Zinc, is located to the south of the property.

The GSC airborne survey was conducted through the autumn and winter of 2008-09 by Fugro Airborne Surveys using a helicopter-borne time-domain electromagnetic (EM) system in conjunction with a separate magnetometer survey. The survey was flown at 200-meter line spacings with readings recorded at ground elevations of less than 500 meters. The GSC issued a series of maps on 30 June 2010 including Open Files 6194 and 6195 which cover all but the northwest portion of the Nox Fort Property.

The magnetometer data is presented as contoured readings while the EM response is represented by point anomalies of various strengths. The Company has produced generalized highlight maps to accompany this press release at its website.

EM Anomalies

Flanking the Bunker Hill mine are a pair of 3 kilometer-long northeast trending clusters of EM anomalies that fall southeast and northwest of the mine area. That northeast trend generally conforms to the strike direction of the underlying pelitic and volcanic sediments.

The largest cluster of EM anomalies begins south of the Bunker Hill mine then widens as it runs southeast and east of the mine before terminating at the Wallack Creek stock. In spite of the Company completing a number of reconnaissance traverses in that area during its field programs of 2008 and 2009, it is not clear what geological feature can be attributed to that response.

Paralleling Limpid Creek northwest and north of the Bunker Hill mine, the string of GSC survey airborne EM anomalies are coincident with a pair of localized soil geochemical anomalies and a very prominent ground geophysical anomaly reported by earlier workers. Zinc was the prominent soil geochemical anomaly often supported by silver, lead and nickel. Historic ground geophysical survey EM and magnetic anomalies are coincident and enveloped by the new GSC airborne trend.

A scattershot of EM anomalies northwest of Bluestar falls on ground that was partly covered in a reconnaissance till survey by the Company in 2008. Some of those samples were somewhat elevated in gold and arsenic, and another sample was anomalous in lead. This area is also intersected the Waneta Fault, a significant regional structure that may have had an influence on the prospective nature of that area.

Magnetic Anomalies

Magnetic response on the Property is dominated by a large positive anomaly centered over the granitic Wallack Creek stock that extends to the east, outside the mapped margin of the intrusive. The magnetic response is generally quieter elsewhere on the Property.

Northwest of the Bluestar gold occurrence, a magnetic high adds interest to the area. The Waneta Fault also crosses through this anomaly where geochemical sampling completed by the Company has targeted the area for mineral exploration.

North of the Bunker Hill mine a magnetic low straddling Limpid Creek may be significant as it corresponds to a small mineralized showing located by the Company in its 2008 field program. A sample of that quartz lens assayed 1.1 gm/tne gold and 4.9 gm/tne silver. Anomalous stream sediments, gathered by the Company in 2008 and last year, just upstream, are part of the high-priority north Limpid Creek exploration target that extends to the northeast for 1.5 kilometres.

The Company is pleased to have this additional new GSC airborne geophysical survey data and maps to assist in its future decision making process.

African Aura Mining Inc.  listed exploration to production company focused on iron ore and gold in sub-Saharan Africa announces the results of the recently completed airborne geophysical survey undertaken by New Resolution Geophysics across the Company’s Nkout, Ngoa and Akom iron ore projects in southern Cameroon.

Highlights:

• Nkout defined by a major geophysical anomaly covering at least 8km of strike length
• Further 12km of targets generated around Nkout, considered to be moderately magnetic
• Previous grab sampling at Nkout returned up to 68% Fe and averaged 55% Fe
• Phase one 4,200m 10 hole drilling programme to commence imminently
• Nkout deposit is strategically well located in an emerging iron ore province:
  • 2.5 billion tonne Mbalam iron ore deposit (located 150km to the south east)
  • Close to the proposed rail route to a port which will service the Mbalam deposit

African Aura has received the interpretation of the data from the recently completed ground and 14,000 line km high resolution airborne geophysical surveys (EM and gravity) covering the company’s Nkout, Ngoa and Akom iron ore projects in Southern Cameroon. The data for Nkout suggests the presence of an east-west striking antiform with two limbs approximately 100m thick and magnetic susceptibilities of around 2.0, which is considered consistent for a prospective banded iron formation.

Luis da Silva, President & CEO of African Aura commented:
“Until today this asset was not valued in our portfolio. The results from the airborne geophysical survey at Nkout and our surrounding projects in Southern Cameroon are nothing short of highly encouraging. They confirm our belief that we have discovered a potentially very significant iron ore asset in a rapidly emerging iron ore province in west Africa. Nkout is represented by an approximately 8km long priority geophysical signature, co-incident with a major hill. As previously announced reconnaissance sampling by African Aura at Nkout, returned a maximum grade of 68% Fe and an average of 57% Fe from 55 samples. A ten hole 4,200m phase one drilling programme is planned to commence imminently, in order to test the highest priority signatures to refine the geological model and progress the project towards a maiden iron resource still during 2010. We look forward to updating shareholders on progress in due course.”

Nkout Iron Ore Project, Southern Cameroon
The Nkout iron ore project is located on the 489km² Djoum licence. The project was identified through interpretation of historic airborne magnetic and remote sensing data. Mapping undertaken to date has shown that Nkout comprises a 12km long, iron rich (Itabirite / BIF) discontinuous ridge hosted in Archaean age rocks on the Congo Craton. Reconnaissance sampling at Nkout has returned assays with a maximum grade of 68% Fe and an average of 57% Fe from 55 samples.

Archive airborne magnetic data indicates a 10km long, domain change dipole interpreted as an area of highly magnetic rocks likely to host Banded Iron Formation (“BIF”) targets in an Archaean setting. The Company considers that the dimensions of Nkout and surrounding hills represent a potentially economic iron deposit.