Aureus Mining Inc. – Filing of NI 43-101 Technical Report on New Liberty

TSX: AUE AIM : AUE

TORONTO , March 16, 2012 /CNW/ - Aureus Mining Inc. ("Aureus" or the "Company") is pleased to announce the filing on SEDAR (www.sedar.com) of its National Instrument43-101 ("NI43-101") compliant technical study ("Technical Report") following the publication of its maiden reserve for its 100% owned New Liberty Project in Liberia on 2 February 2012 .

With this news release, the Company is reporting the filing as required under NI 43-101. A copy of the document may be obtained via http://www.sedar.com and on the Company's website http://www.aureus-mining.com).

Highlights

Commenting on the release of the technical report, David Reading , Chief Executive Officer of Aureus Mining, said:

"Since Aureus was created in April 2011 , the Company has made excellent progress at New Liberty and throughout the licence area. The work that has been carried out so far, including the publication of our maiden reserve and the filing of this Technical Report, is a testament to the quality and strength of the team that we have on site."

"It is with deep regret and sadness that we note the passing of Dr. Richard Latiff following a long medical condition. This is a fitting time to recognise the important contribution Richard made to the New Liberty project from its early exploration through to the conclusion of feasibility studies. He will be greatly missed."

About Aureus Mining

The Company's assets include the New Liberty gold deposit in Liberia (the "New Liberty Gold Project"), which has an estimated Reserve of 873,000 ounces of gold grading 3.1g/t and an estimated Measured and Indicated Mineral Resource of 1,086,000 ounces of gold grading 3.6g/t and an estimated Inferred Mineral Resource of 483,000 ounces of gold grading 3.5g/t. A technical update for the New Liberty gold project was released on February 2, 2012 , derisking and building on the robust preliminary economic assessment ("PEA"), filed in December 2010 . This update outlined an improved pre-tax NPV of US$260million based on a US$1,350/oz. gold price and a discount rate of 8%, with an eight year mine life and production of 123,000 ounces per year modelled for the first four years.

The New Liberty Gold Project is located within the Bea Mountain mining license which covers 457km and has a 25 year, renewable, mineral development agreement. The Bea Mountain mining license also hosts the proximal gold targets of Ndablama, Weaju, Silver Hills and Gondoja, which are the focus of exploration programs during 2012.

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Aureus Mining Inc. - Filing of NI 43-101 Technical Report on New Liberty