Auroch Minerals NL provided shareholders with an update that it has now completed the acquisition of 100% of the Manica Gold Project (Manica Project) from Pan African Resources plc (Pan African) and met the final re-instatement conditions required for quotation on ASX. Part of the re-compliance process necessitated a capital raising in December 2012 where the company secured over $3 million at 30 cents per share. Following the capital raising the company has approximately $5.4 million in cash. The company is now well poised and funded to explore and develop what is a substantial gold asset in a stable mining jurisdiction within a proven geological address (the Odzi-Mutare-Manica Classical Greenstone Belt (OMM)). The Mining Concession (3990 C) (Concession) has been issued and a JORC code compliant resource been delineated. Only 8% of the potential 27km of shear zones within the Concession has been drilled to date leaving significant upside potential on the Northern Shear to establish a meaningful low cost resource recoverable by direct cyanidation.

On completion of the acquisition from Pan African, Messrs Dean Cunningham, Jan Nelson and Glenn Whiddon were appointed to the Board and Messrs Benjamin Bussell, Robert Jewson and Matthew Foy have stepped down from the Board.