DWYKA RESOURCES LIMITED ('DWYKA' OR THE 'COMPANY')
COMPLETION OF UNDERGROUND MINE ACQUISITIONS
The Directors of Dwyka Resources Limited ("Dwyka" or "the Company")
today announce that it has settled the deferred consideration due in
relation to the acquisition of Bellsbank Mining Number One
(Proprietary) Limited, Kophia Diamonds (Proprietary) Limited and Rex
Exploration (Proprietary) Limited. These companies hold the
Blaauwbosch, Newlands and New Elands Mines and were acquired in
August 2005. As part of the settlement Dwyka has been released from
outstanding commitments and ongoing obligations related to these
entities.
Under the terms of the settlement Dwyka announces that it has issued
2,349,400 fully paid ordinary shares in the Company to Acorn Mining
(Pty) Limited, Acorn Financial Instruments (Pty) Limited and Capital
Frontiers LLC. These shares have been issued at GBP0.35 ($A0.84) in
accordance with the terms of the original purchase agreement.
The settlement facilitates the negotiation process in relation the
potential sale of the Company's diamond interests as announced on 17
January 2007.
Application has now been made to the AIM Market of the London Stock
Exchange ("AIM") for 2,349,400 Shares to be admitted to trading on
AIM ("Admission"). Admission is expected to occur at 8.00am on 10
August 2007.
Dwyka now has 128,669,206 Shares in issue.
Enquiries:
Melissa Sturgess
Dwyka Resources Limited
(+618) 324 2955
In United Kingdom
Richard Brown
Ambrian Partners Limited
(+44) 20 7776 6417
Charlie Geller/Leesa Peters
Conduit PR
(+44) 20 7429 6604 or (+44) 7970 067 320
or visit http://www.dwyresources.com
---END OF MESSAGE---
