AGRICOLA RESOURCES - PRESS RELEASE
28th September 2009
Disposal of Swedish Licences
29 September 2009. The directors of Agricola Resources Plc (Plus Markets AGRI) the Plus Markets traded mineral exploration company are pleased to announce that the Company in order to facilitate and further enhance its strategic objectives for gold exploration in North Africa has disposed of its Swedish licences and reverted the Ballek JV to Beowulf Mining PLC for a consideration of a converted equivalent of £71,110.
The proceeds will be used to seek to acquire gold exploration concessions in North Africa (Morocco) negotiations for which are at an advanced stage and to repay Energy Ventures Ltd loans outstanding previous work in Sweden.
Anthony Scutt as a director of both Agricola Resources Plc and Beowulf Mining PLC stood down from each Board's decisions on this transaction.
Dr. Robert Young, Chairman of Agricola Resources PLC commented :
"The directors of Agricola Resources PLC made the decision to concentrate on gold mineral exploration and development and after long discussions decided to seek to acquire gold concessions in Morocco. We hope to make further announcements on North Africa developments in the near future. Agricola Resources Plc has made arrangements to work with a group of British geologists who live in Spain and had alerted the Company to the potential of the Moroccan project. They speak Spanish and French and have worked in North Africa for many years."
The directors accept responsibility for this announcement.
For further information contact:-
Dr. Robert Young, Chairman
Agricola Resources plc
Tel: 01353 649 379
St Helen's Capital Plc
Duncan Vasey/Mark Anwyl - 0207 628 5582