Tue, 6 Jun 2006 9:14:00 PDT
TORONTO, ONTARIO -- (MARKET WIRE) -- 06/06/2006 -- LionOre Mining International Ltd. ("LionOre"), (TSX: LIM)(LSE: LOR)(ASX: LIM)(BSE: LIONORE) is pleased to announce that considerable progress continues to be made on the completion of a bankable feasibility study for the construction of a full scale Activox® hydrometallurgical plant, the dense media separation (DMS) circuit and platinum group metals recovery circuit at LionOre's Tati Nickel operations in Botswana ("the Tati Activox® Project"). This progress has enabled LionOre to commence detailed planning for the financing of the Tati Activox® Project.
LionOre has appointed Resource Finance Advisors (Pty) Ltd ("RFA") to manage the process of arranging the debt funding components of this project. RFA is an independent financial advisory firm with experience in the mining and resources sector in southern Africa.
LionOre, together with RFA, has had discussions with leading international and South African financial institutions, all of which have confirmed their interest in participating in the funding of the Tati Activox® Project. It is anticipated that LionOre will announce the selected financial institutions in August 2006.
For further information, please visit www.lionore.com.
Contacts: UK / Europe LionOre Mining Colin Steyn, President & CEO +44 (0) 20 7590 8888 Africa LionOre Africa Peter Breese, Managing Director +27 (0) 11 463 4223 Canada LionOre Mining Ted Mayers, Chief Financial Officer +1 (416) 777-1670 LionOre Mining International Ltd. 20 Toronto Street, 12th Floor, Toronto, Ontario M5C 2B8 +1 (416) 777-1985 +1 (416) 777-1320 (FAX) info@lionore.com www.lionore.com
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