Aurelian Update on Kinross Offer – Kinross Now Owns 90.7% of Aurelian Shares
Aurelian Resources Inc. announced that per Kinross Gold Corporation’s press release issued earlier this morning Kinross has taken up and paid for an additional 15,165,279 common shares of Aurelian under its offer to acquire the Aurelian common shares. As a result of this acquisition, Kinross now beneficially owns a total of 138,689,460 common shares of Aurelian, or 90.7% of the issued and outstanding common shares of Aurelian (on a fully diluted basis), and 89.7% of the Aurelian shares excluding the 15 million shares acquired by Kinross prior to the offer.
Kinross has also extended its offer to midnight (Toronto time) on September 29, 2008 in order to enable those shareholders who have not yet tendered their shares a final opportunity to deposit their Aurelian shares to the offer.
Kinross has also agreed to make a joint tax election with certain holders of common shares of Aurelian within 90 days after the expiry time of the offer. As a result of the extension of the expiry time under the offer, the deadline for providing the requisite tax information to Kinross has been extended from December 2, 2008 to December 29, 2008. Details regarding the tax election are contained in the offer documents and at https://www.taxelection.ca/kinross.
Aurelian Resources Inc. is a publicly-listed company engaged in exploring, discovering and developing mineral wealth in Ecuador. The Fruta del Norte (FDN) discovery lies at the heart of the Condor Project, located in south-eastern Ecuador. The initial Inferred Mineral Resource for FDN was released in October 2007 and included 58.9 million tonnes grading 7.23 g/t gold and 11.8 g/t silver for 13.7 million ounces of contained gold and 22.4 million ounces of contained silver. Visit www.aurelian.ca for more information.