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CONNECTED MINERALS LIMITED — Board/Management Information 2007
Jun 12, 2007
64669_rns_2007-06-12_097b072d-8325-43a0-a54a-8ef067cf2b18.pdf
Board/Management Information
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ACCLAIM EXPLORATION N.L.
ABN 99 009 076 233
13th June 2007
Companies Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000
Board Appointment and Acquisition
The Directors of Acclaim Exploration NL ("Acclaim" or "the Company") are pleased to announce the appointment of Mr Ralph Bagirathi as the new Managing Director of the Company.
Mr Bagirathi is a mining engineer with over 23 years corporate and technical experience in the exploration and mining industry plus the financial services industry. He has worked previously with JCI, Anglo Platinum, ABSA Bank, Decorum Capital managing the New Africa Mining Fund and most recently was CEO Africa for Brinkley Mining plc. Mr Bagirathi is a South African citizen resident in Johannesburg.
Joining Mr Bagirathi at Acclaim will be a highly qualified African based geological team with a very broad range of experience in Africa and with uranium, specifically to support him in the management of the Company's current projects and future acquisitions.
The Directors of Acclaim are also please to announce that they have entered into an agreement with Laskara Limited to acquire the rights to explore and mine uranium in the West African nation of Guinea. The Company has been granted the entitlement to formally survey the entire Prefectures of Mali. Siguiri, Mamou, Kindia, Kissidougou, Mandiana, and N'Zerekore in Guinea and select what it believes to be the most prospective uranium rich occurrences.
In addition, Laskara has procured an enormous data base of existing uranium exploration data collected over several decades, including intensive work by Cogema, the French government nuclear agency, since renamed Areva. The data includes previous drill hole data, aeromagnetic survey data and comprehensive geological mapping of the prospective regions in the country.
Using this database. Acclaim has commenced a review of the most prospective areas for immediate selection. It is the company's intention to identify blocks suitable for the immediate commencement of a number of reconnaissance drilling programs. The company is not limited to the number of blocks it may choose, however it is recognised that it is prudent to maximise its limited resources on the most prospective recognised uranium regions within Guinea.
Under the agreement Acclaim Exploration has a two week due diligence period which will include a site visit by Mr Bagirathi and his team to Guinea and the Department of Mines. Following completion of due diligence Acclaim will proceed with negotiation of final terms of the acquisition.
As previously announced, the drilling results from the Denny Dalton Project were anticipated to be released to the company around the end of May. Delays with the drilling program caused by operational issues caused it to extend past the scheduled completion date. Logging of the final drill holes was completed and a total of 675 samples were sent to the laboratory for analysis on the 16th May. Results are expected later this month.
The Company's exploration consultants, CCIC, will then submit a detailed exploration and resource report on the Denny Dalton project. This will include a summary of all drilling, assay results, geological models and resource estimates. This report will be released by Acclaim Exploration as a single announcement as soon as it has been received.
Yours faithfully
Neville J Bassett Secretary
Appendix 3X
Rule 3.19A.1
Initial Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/9/2001.
| Name of entity Acclaim Exploration NL | ||
|---|---|---|
| ABN | 99 009 076 233 |
We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.
| Name of Director | Ralph Bagirathi |
|---|---|
| Date of appointment | 13 June 2007 |
Part 1 - Director's relevant interests in securities of which the director is the registered holder
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
Number & class of securities
Nil
$+$ See chapter 19 for defined terms.
Part 2 – Director's relevant interests in securities of which the director is not the registered holder
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
| Name of holder & nature of Number & class of Securities | |
|---|---|
| interest Note: Provide details of the circumstances giving rise to |
|
| the relevant interest. | |
| Nil | |
Part 3 – Director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of 'notifiable interest of a director" should be disclosed in this part.
| Detail of contract | Nil |
|---|---|
| Nature of interest | |
| Name of registered holder (if issued securities) |
|
| No. and class of securities to which interest relates |
$+$ See chapter 19 for defined terms.