TSX: AUE AIM : AUE

TORONTO , May 21, 2013 /CNW/ - Aureus Mining Inc. ("Aureus" or the "Company") is pleased to announce its NI43-101 compliant optimised Definitive Feasibility Study ("DFS") for its 100% owned New Liberty Gold Project in Liberia ("New Liberty" or "the Project") following the completion of the optimisation work which focused on the plant and mine designs and the location of site infrastructure. The DFS outlines an economically robust gold project based on a flat gold price of US$1,400/oz - moreover, the Project has been extensively de-risked from design, operational and environmental perspectives. Capital and operating costs are estimated to a higher level of accuracy. The DFS has increased the average production profile for the first six years. New Liberty will be Liberia's first commercial gold mine and Aureus' first mine in its highly prospective 546km2 total licence area.

Key highlights of the DFS and work completed to date include:

David Reading , Chief Executive Officer of Aureus, commented:

"We are pleased with the results of the optimisation studies and the completion of the DFS. This work has improved the project in terms of mining and plant designs and the layout of the waste and plant infrastructure. The work has now been completed to a greater level of detail than in the previously published study and the Company feels that the overall result is a project that is significantly de-risked with an optimum design, resulting in lower cash costs as well as lower capital expenditure for the building of the mine. New Liberty is a robust and very competitive West African project due to its cash operating costs, a modest capital outlay, excellent grade and rapid return on investment criteria. The New Liberty project is an excellent first step in developing Liberia's nascent gold mining industry."

"Whilst completing the detailed optimisation work, our development teams have completed earthworks at the plant, tailings and stream diversion sites. We have also ordered the ball mill and are currently in the process of relocating the Larjor and Kinjor villages. The Company remains on track for the first gold pour in December 2014 . Our focus is now exclusively directed to completing the debt financing process and commencing civil construction after the rainy season in Q3 2013."

"On the exploration front we have completed drilling programmes at Weaju and Ndablama and await further assay results. Our generative team has completed geochemical coverage of the whole licence portfolio and we are continuing to assess a number of potential new gold targets. We are very excited about the potential of our exploration portfolio and committed to unlocking further value through resource expansion and the development of additional mining projects."

There will be a conference call hosted by David Reading on Monday 20May2013 at 09.30 BST to discuss the DFS.

Participants may join the call by dialling one of the following numbers approximately 10 minutes before the start of the call:

Participants may join the call by dialling one of the following numbers approximately 10 minutes before the start of the call:

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Aureus Mining Inc. - New Liberty optimised DFS confirms strong financial returns