9 February 2006
Australian Stock Exchange Limited
Companies Announcements Office
CURRIE ROSE EARN 100% INTEREST IN THE JUBILEE REEF LICENCES, AND AN EARNIN OF A
40% INTEREST IN MABALE & NYAMIREMBE IN TANZANIA
Sub-Sahara Resources NL has signed a letter agreement with Currie Rose
Resources Inc.(CUI) for the option of the properties CUI is presently earning an
interest in, located in Tanzania, pursuant to earlier on option agreement dated
November 18, 2004. The letter agreement provides that in consideration of the
receipt by Sub-Sahara of two million shares in the capital of CUI that:
(a) CUI will have acquired a 100-per-cent interest in the
Jubilee Reef licences; and
(b) CUI will have earned a 40-per-cent interest in the Mabale and Nyamirembe
licences.
Now that CUI has earned its 40-per-cent interest in the Mabale and Nyamirembe
licences, it can increase its interest in these licences to a 70-per-cent interest
upon completing a bankable feasibility study on either of the projects.
The terms of the acquisition of the Jubilee Reef licences provide for a royalty
payable to Sub-Sahara of $3.00 (U.S.) to $7.50 (U.S.) per ounce of gold produced
from the licences contingent on the amount of annual production and the price of
gold.
The terms of the letter agreement are subject to CUI and Sub-Sahara entering
into a more formal agreement within 30 days and regulatory approval.
Yours faithfully
For and on behalf of
Sub-Sahara Resources NL
MR Griffiths
Chief Executive Officer & Director
ACN: 061 104 158
288 Stirling Street, Perth
Western Australia 6000
PO Box 8260
Perth Business Centre
Western Australia 6849
Telephone (+61 8) 9227 3260
Facsimile (+61 8) 9227 3271
Email: [email protected]
Web: http://www.subsahara.com.au
Sub-Sahara Resources NL
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