Prospecting Licence at Ghana Granted

Alecto Minerals plc / EPIC: ALO / Market: AIM / Sector: General Financial

05 July 2011

Alecto Minerals plc ("Alecto" or the "Company")

Prospecting Licence at Ghana Granted - Awaiting Official Receipt

Alecto Minerals plc, the AIM listed resource company, is pleased to announce that it has received a letter from the Minerals Commission of Ghana stating that the prospecting licence at the Company's 191.1 sq km gold exploration licence in the highly prospective Ashanti Gold Belt in Ghana has been granted. 

The Board of Alecto is now awaiting receipt of the licence agreement and subject to satisfactory review of the rights and obligations thereof, will proceed with the first phase of the staged acquisition to purchase 51% of the issued share capital of Rancho Ghana Limited from Eric Akwasi Appiah.

A further update will be issued to shareholders in due course.

**ENDS**

For further information, please visit www.alectominerals.com or contact:

Notes:

Alecto Minerals Plc is an AIM listed resource exploration and development company focussed on Africa. 

Alecto Minerals has a diverse portfolio of exploration assets in both Mauritania and Ghana. In Mauritania, the Company currently owns three gold and base metal development licences totalling 1,902 sq km and two uranium licences totalling 1,592 sq km in the highly prospective Mauritanide mobile belt. Additionally, the Company has signed an agreement under which it will acquire a controlling interest in a 191 sq km gold exploration licence in the highly prospective Ashanti Gold Belt in Ghana. Alecto is committed to conducting exploratory work across its portfolio, designed to strengthen the Company's knowledge of the assets and delineate targets for further exploration.

Alecto Minerals also has a 9.73% shareholding in resource investment company Charles Street Capital plc. The Board believes this investment will provide Alecto with exposure to a diverse range of potential resource projects.