DIO 0.00% $1.27 dioro exploration nl

dioro confirms discussions with northgate mine

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    See copy of announcement below, let the fun begin.

    Not for distribution in the United States of dissemination
    through a U.S. newswire service

    20 July 2009 ASX/TSX: DIO

    DIORO CONFIRMS DISCUSSIONS WITH NORTHGATE MINERALS CORPORATION
    RECONFIRMS RECOMMENDATION TO REJECT CURRENT AVOCA OFFER
    The Board of Dioro Exploration NL (“Dioro”) is pleased to announce that it is
    currently engaged in advanced discussions with Northgate Minerals Corporation
    (“Northgate”) regarding a potential material transaction. It is currently
    contemplated that the details of the proposed transaction will be announced
    within one week.
    On the basis of its discussions with Northgate to date, the Board of Dioro is of the
    view that the proposed transaction, if completed on the terms currently being
    contemplated is likely to be a superior transaction in value to the current Avoca
    Offer.
    The Dioro Directors reconfirm their previous recommendation that Dioro
    shareholders should REJECT the current Avoca Offer.
    Your Directors note that Avoca has today extended its takeover bid until 28 July
    2009 after confirming that it has received acceptances for only 2.71% of Dioro
    shares since it opened its offer in May 2009.
    About Northgate (NGX.TSX)
    Northgate is a TSX listed multi-mine gold copper producer with operations,
    development projects and exploration properties in Canada and Australia.
    Further details can be obtained on Northgate’s website www.northgateminerals.com
    Yours faithfully,

    Rhod Grivas
    Managing Director
 
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