30th Jul 2007 12:00
Randgold Resources Ld30 July 2007 RANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNasdaq Trading Symbol: GOLD RANDGOLD RESOURCES AND IAMGOLD AGREE TO JOINT VENTURE IN SENEGAL London, 30 July 2007 - Randgold Resources (LSE:RRS) (Nasdaq:GOLD) and IAMGOLDCorporation ('IAMGOLD') have concluded a joint venture agreement on IAMGOLD'sBambadji gold project in eastern Senegal. The 343 km(2) Bambadji permit isadjacent to Randgold Resource's Loulo mining complex across the border in Mali. In terms of the agreement, Randgold Resources will earn a 51% stake in IAMGOLD'sinterest in the project by funding and completing a pre-feasibility study.IAMGOLD can then retain a 49% interest by co-funding a full feasibility study ordilute to 35% by letting Randgold Resources provide the full funding. RandgoldResources chief executive Mark Bristow said the agreement extended andconsolidated the company's groundholding in the Loulo region, which it believedto be one of the most prospective gold exploration areas in the world atpresent. "Past exploration on Bambadji has indicated the presence of favourable geology,geochemical anomalies and gold mineralisation with strong similarities to theLoulo project area. We already have a team there completing an interpretationof the Senegal-Mali structural corridor, which includes a 25 by 5 kilometre goldin soil anomaly that has seen very little drilling. The next phase will betarget generation and the design of field exploration programmes to start in thelast quarter of this year," he said. RANDGOLD RESOURCES ENQUIRIES:Chief Executive Exploration Manager Investor & Media RelationsDr Mark Bristow Paul Harbidge Kathy du Plessis+44 788 071 1386 +44 1534 735 333 +44 20 7557 7738+44 779 775 2288 +44 777 552 5583 (Mobile) [email protected]+223 675 0122 Website: www.randgoldresources.com DISCLAIMER: Statements made in this document with respect to Randgold Resources'current plans, estimates, strategies and beliefs and other statements that arenot historical facts are forward-looking statements about the future performanceof Randgold Resources. These statements are based on management's assumptionsand beliefs in light of the information currently available to it. RandgoldResources cautions you that a number of important risks and uncertainties couldcause actual results to differ materially from those discussed in theforward-looking statements, and therefore you should not place undue reliance onthem. The potential risks and uncertainties include, among others, risksassociated with: fluctuations in the market price of gold, gold production atMorila, the development of Loulo and estimates of resources, reserves and minelife. For a discussion on such risk factors refer to the annual report on Form20-F for the year ended 31 December 2006 which was filed with the United StatesSecurities and Exchange Commission (the 'SEC') on 25 June 2007. RandgoldResources sees no obligation to update information in this release. Cautionarynote to US investors: the 'SEC' permits companies, in their filings with the 'SEC', to disclose only proven and probable ore reserves. We use certain termsin this release, such as "resources", that the 'SEC' does not recognise andstrictly prohibits us from including in our filings with the 'SEC'. Investorsare cautioned not to assume that all or any parts of our resources will ever beconverted into reserves which qualify as 'proven and probable reserves' for thepurposes of the SEC's Industry Guide number 7. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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