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Company Amara Mining plc
TIDM AMA
Headline

Filing of Preliminary Economic Assessment for Sega Gold Project

Released 07:00 30-Nov-2012
Number 0838261001

Filing of Preliminary Economic Assessment for Sega Gold Project

FOR:  AMARA MINING PLC
 
AIM SYMBOL:  AMA
TSX SYMBOL:  AMZ

November 30, 2012

Filing of Preliminary Economic Assessment for Sega Gold Project

LONDON, UNITED KINGDOM--(Marketwire - Nov. 30, 2012) - Amara Mining plc (formerly Cluff Gold plc), (AIM:AMA)(TSX:AMZ)
the dual AIM and TSX-listed West African focused gold mining company, is pleased to announce the filing of its
National Instrument 43-101-compliant technical report detailing the results of the Preliminary Economic Assessment
("PEA") for its Sega Gold Project ("Sega") in Burkina Faso. This follows the news release dated 16 October 2012
announcing the details of the PEA.

A copy of the PEA may be obtained via www.sedar.com and on Amara's website at 
http://www.amaramining.com/Investor-Relations/NI43-101-Reports. A copy of the news release may also be obtained via
SEDAR and on Amara's website.

The previously announced highlights of the Sega PEA are as follows:

--  An internal rate of return of 48%, with a post-tax net present value of
    US$49.5 million using a gold price of US$1,500 per ounce and a discount
    rate of 10% 
--  Contained gold of 162,825 ounces over the 21 month initial mine life 
--  Cash cost per ounce produced excluding royalties of US$821 per ounce 
--  Mining licence expected to be received in Q1 2013 and mining at Sega
    anticipated to commence in H1 2013 

This report includes certain "forward-looking information" within the meaning of applicable Canadian securities
legislation. 

All statements other than statements of historical fact included in this report, including, without limitation, the
positioning of the Company for future success, statements regarding exploration, production estimates and future
objectives of Amara, are forward-looking information that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and future events could differ materially
from those anticipated in such statements. Important factors that could cause actual results to differ materially from
Amara's expectations include, among others, risks related to international operations, timing of receipt of mining
licence, the actual results of current exploration and drilling activities, the reduction of the net smelter returns
royalty on Sega, changes in project parameters as plans continue to be refined as well as the future price of gold.
Although Amara has attempted to identify important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Amara does not undertake to update any forward-looking statements that are included herein, except in accordance with
applicable securities laws.

Richard Quarmby is a "Qualified Person" within the definition of National Instrument 43-101 and has verified the data
disclosed in this release and reviewed and approved the information contained within this announcement. Mr Quarmby is
the Group Project Manager.

The delineation of the Sega resources were executed under the supervision of Pascal Marquis, SVP Exploration for
Orezone Gold Corporation, who is a "Qualified Person" as defined by National Instrument 43-101 and who has reviewed
and approved the relevant technical information in this release.

Peter Brown is a "Qualified Person" within the definition of National Instrument 43-101 and has verified the data
disclosed in this release and reviewed and approved the information contained within this announcement. Mr Brown
(MIMMM) is the Group Exploration Manager.

FOR FURTHER INFORMATION PLEASE CONTACT:

Amara Mining plc
John McGloin
Chairman
+44 (0)20 7398 1420

OR

Amara Mining plc
Peter Spivey
Chief Executive Officer
+44 (0)20 7398 1420

OR

Amara Mining plc
Pete Gardner
Finance Director
+44 (0)20 7398 1420

OR

Amara Mining plc
Katharine Sutton
Head of Investor Relations
+44 (0)20 7398 1420
www.amaramining.com

OR

Canaccord Genuity Limited
(Nominated Adviser & Broker, London)
Rob Collins
+44 (0)20 7523 8350

OR

Canaccord Genuity Limited
(Nominated Adviser & Broker, London)
Sebastian Jones
+44 (0)20 7523 8350

OR

Canaccord Genuity Limited
(Nominated Adviser & Broker, London)
Joe Weaving
+44 (0)20 7523 8350

OR

Pelham Bell Pottinger
(Financial Public Relations)
Charlie Vivian
+44 (0)20 7861 3232

OR

Pelham Bell Pottinger
(Financial Public Relations)
Lorna Spears
+44 (0)20 7861 3232

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Filing of Preliminary Economic Assessment for Sega Gold Project - RNS