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BRT/BRN - Brimstone Investment Corporation Limited - Voluntary Announcement

Release Date: 02/03/2011 16:00
Code(s): BRT BRN
Wrap Text

BRT/BRN - Brimstone Investment Corporation Limited - Voluntary Announcement Regarding Brimstone`s Investment In Galaxy Gold Mining Limited BRIMSTONE INVESTMENT CORPORATION LIMITED BRIMSTONE INVESTMENT CORPORATION LIMITED (Incorporated in the Republic of South Africa) (Registration number 1995/010442/06) Share Code: BRT ISIN Number: ZAE000015277 Share Code: BRN ISIN Number: ZAE000015285 ("Brimstone") VOLUNTARY ANNOUNCEMENT REGARDING BRIMSTONE`S INVESTMENT IN GALAXY GOLD MINING LIMITED ("GALAXY GOLD") Holders of ordinary and "N" ordinary Brimstone shares are advised that Brimstone has subscribed for 8,000,000 ordinary shares in the share capital of Galaxy Gold ("Galaxy Gold ordinary shares") (6% of the Galaxy Gold ordinary shares in issue). Brimstone also has an option to acquire up to a further 8,000,000 Galaxy Gold ordinary shares until 30 June 2011. Galaxy Gold (www.galaxygold.co.za) is a South African gold mining and exploration company, focused on exploitation of the Barberton Greenstone Belt ("BGB"). The company`s priorities are to bring to account more than 1 million ounces of SAMREC and JORC compliant resources and simultaneously to explore substantial further upside. Galaxy Gold`s three, unique "enablers" are: in-depth knowledge of BGB geology; high-volume materials handling capability and expertise; and the use of licensed and tested Biox metallurgical technology appropriate for BGB ores. The company`s intention is to list on the Johannesburg Stock Exchange by the fourth quarter of 2011. It should be noted that the value of the transaction for Brimstone is less than 5% of Brimstone`s market capitalisation and accordingly this announcement is made voluntarily. Cape Town 2 March 2011 Investment Bank and Sponsor Nedbank Capital Date: 02/03/2011 16:00:02 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.

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