micky468
- 08 Feb 2007 10:29
FOR IMMEDIATE RELEASE 8 February 2007
Brinkley Mining Plc
("Brinkley Mining" or "the Company")
Agreement signed to source additional Uranium Projects
Brinkley Mining Plc (AIM: BRM), is pleased to announce that it has entered into
an Agreement to source additional uranium projects in South Africa with one of
the Brinkley Group's Economic Empowerment Partners, Blue Nightingale 709
(Proprietary) Limited ("Blue Nightingale").
Under the terms of the Agreement Blue Nightingale will offer a right of first
refusal on any uranium projects in South Africa to the Brinkley Group. In
consideration, Brinkley Mining will issue 6 million fully paid ordinary shares
in the Company to Blue Nightingale. These shares will be subject to a 12 month
lock-in arrangement and will be issued within 20 days after Blue Nightingale
has obtained approval of this arrangement from the Reserve Bank of South Africa.
Blue Nightingale is the Brinkley Group's joint Economic Empowerment Partner over
5 Prospecting Applications in the Karoo region of South Africa and also is a
25% shareholder in Western Uranium (Proprietary) Limited, a subsidiary of
Brinkley Mining. Blue Nightingale has a management team with mining and
commercial expertise and experience. Its principals comprise experienced
practitioners in a wide range of business activities, including mineral-resource
management, corporate finance, project management and the provisioning of legal
and business accounting services.
Gerard Holden, Executive Chairman of Brinkley Mining, commented:
"Brinkley Mining is delighted to have expanded our relationship with Blue
Nightingale. We all view this as an important step in enhancing the Company's
portfolio of uranium properties whilst working together with one of our partners
Blue Nightingale."