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HAR - Harmony Gold Mining Company - Harmony expands Papua New Guinea exploration

Release Date: 27/08/2009 12:54
Code(s): HAR
Wrap Text

HAR - Harmony Gold Mining Company - Harmony expands Papua New Guinea exploration portfolio Harmony Gold Mining Company Limited (Incorporated in the Republic of South Africa) Registration number 1950/038232/06 ISIN ZAE000015228 Issuer code: HAPS TRADING SYMBOLS: Ordinary Shares: JSE Limited: HAR, New York Stock Exchange, Inc., HMY, London Stock Exchange plc: HRM Euronext Paris: HG, Euronext Brussels: HMY, Berlin Stock Exchange: HAM1, NASDAQ: HMY HARMONY EXPANDS PAPUA NEW GUINEA EXPLORATION PORTFOLIO Johannesburg. Thursday, 27 August 2009. Harmony Gold Mining Company Limited (Harmony) is pleased to advise that it has acquired two new exploration projects, the Amanab and the Mt Hagen Projects, in Papua New Guinea (PNG). These exploration licenses (EL) complement the exploration activities undertaken by Harmony and underscore the company`s commitment and belief in the developing minerals industry in PNG. Amanab Project EL1708 Amanab project EL1708 was granted on 6 July 2009 and comprises of about 863 square kilometres of tenure. The tenement is located approximately 160km north of the OK Tedi copper-gold mine in the Sandaun Province and was pegged to target the bedrock source of the alluvial goldfield centered on the Yup River. Mt Hagen Project EL1611 & EL1596 The Mt Hagen project comprises two contiguous tenements encompassing approximately 1100 square kilometres of tenure. The tenements are located approximately 20km north-northeast of Mt Hagen and are readily accessible via the Highlands Highway connecting Lae and Porgera. Harmony acquired 100% of the mineral rights for EL1596 from Frontier Resources for the cash consideration of A$300,000. Harmony also acquired the rights to explore the adjacent tenement EL1611 over a four year period, with the condition that Harmony`s exploration program meets the minimum annual expenditure commitment. At any time during this period Harmony may exercise an option to purchase 100% of the tenement for a total cash consideration of 6 million Kina. Issued by Harmony Gold Mining Company Limited For more details contact: Graham Briggs Chief Executive Officer on +27(0)83 265 0274 or Marian van der Walt Executive: Corporate and Investor Relations on +27 (0)82 888 1242 Corporate Office: Randfontein Office Park P O Box 2 Randfontein South Africa 1760 T +27 (11) 411 2000 www.harmony.co.za Sponsor: J.P. Morgan Equities Limited Date: 27/08/2009 12:54:28 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.