HAR - Harmony Gold Mining Company - Harmony expands Papua New Guinea explorationRelease Date: 27/08/2009 12:54:29 Code(s): HAR
HAR - Harmony Gold Mining Company - Harmony expands Papua New Guinea exploration
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,
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:
Chief Executive Officer
on +27(0)83 265 0274
Marian van der Walt
Executive: Corporate and Investor Relations
on +27 (0)82 888 1242
Randfontein Office Park
P O Box 2
South Africa 1760
T +27 (11) 411 2000
J.P. Morgan Equities Limited
Date: 27/08/2009 12:54:28 Supplied by www.sharenet.co.za
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