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Trans Hex Group Limited - Trans Hex signs joint venture agreement with Endiama

Release Date: 10/05/2006 10:00
Code(s): TSX
Wrap Text

Trans Hex Group Limited - Trans Hex signs joint venture agreement with Endiama Trans Hex Group Limited Incorporated in the Republic of South Africa (Registration number 1963/007579/06) Share code JSE: TSX and NSX: THX ISIN: ZAE000018552 ("Trans Hex" or "the Group") TRANS HEX SIGNS JOINT VENTURE AGREEMENT WITH ENDIAMA Trans Hex has concluded a prospecting joint venture agreement with the Angolan State Diamond Organisation (Endiama), together with certain minority partners, resulting in Trans Hex Angola securing a 33% interest in the Luana Concession. The signing of the agreement sees the successful conclusion of the conversion of the current service agreement into a full scale joint venture agreement. In terms of the previous service agreement Trans Hex completed a dredge sampling program on the Luana River which produced encouraging results. A detailed bulk sampling program will now be implemented whereafter a mine feasibility study will be presented to the project partners. The Luana Concession is located 80 km North East of the town of Lucapa in the Angolan province of Luande Norte. The 724.5 km2 concession includes a portion of the Luana River to the south of its confluence with the Chuimbe River. It is adjacent to the Luarica concession in which Trans Hex has a 35% interest. Llewellyn Delport, Managing Director, Trans Hex Group commented as follows: "The signing of the Luana joint venture agreement further emphasises the confidence which our Angolan partners have shown in us. Our working relationship with Endiama started some four years ago and continues to strengthen as evidenced by the signing of this agreement". Ends 9 May 2006 FOR FURTHER INFORMATION PLEASE CONTACT: Trans Hex Group Limited Llewellyn Delport Telephone 021 937 2001 Mobile 082 457 0316 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) CORPORATE FINANCE Namibian Sponsor IJG CORPORATE FINANCE (PTY) LTD Date: 10/05/2006 10:00:19 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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