Taurus Gold Limited Announces Joint Venture With Randgold Resources Limited

Taurus Gold Limited Announces Joint Venture With Randgold Resources Limited 
TORTOLA, BRITISH VIRGIN ISLANDS -- (Marketwired) -- 07/03/13 --
Taurus Gold Limited, a private exploration company operating in West
Africa, is pleased to announce that it has entered into a joint
venture (JV) agreement with Randgold Resources (Mali) Limited, a
subsidiary of Randgold Resources Limited (LSE:RRS)(NASDAQ:GOLD)
('Randgold'), to explore and potentially develop the Bakolobi Gold
Project ('Bakolobi' or 'the Project'), located 30km south of
Randgold's Loulo Mine in Mali's south western region. 
Pursuant to the terms of the JV Agreement: 


 
--  Randgold is to fund all costs up to and including the completion of a
    pre-feasibility study for the Project as well as minimum annual work
    commitments; 
--  The initial participating interests in the JV will be 51% Randgold and
    49% Taurus up to the completion of the pre-feasibility study; 
--  Thereafter Randgold may earn up to a 65% interest in the JV by funding
    the preparation of a feasibility study if Taurus elects not to, or fails
    to fund its proportionate share of the cost thereof; and 
--  Following the completion of the feasibility study, each party will be
    required to fund its proportionate share of all development and mining
    costs, failing which its participating interest will be subject to
    dilution. 

 
Taurus Gold Limited Chairman, Jonathan Schneider, said "I am
delighted to have entered into this JV with Randgold. Taurus believes
that Randgold is the perfect strategic partner for this Project with
its record of successfully developing gold projects in West Africa,
allowing Taurus to focus its resources on its advanced projects in
Cote d'Ivoire and Burkina Faso. Taurus will retain a material
interest in the Project, while removing any funding requirement until
it has advanced to the feasibility study stage." 
The 120 km2 Bakolobi permit is located in the south-western corner of
Mali near the Senegalese border in a prolific gold province where
more than 27.3 million ounces of gold have been discovered. The
permit area is bisected by among others, a major gold-bearing shear
zone known as the Fekola Shear Zone, which is host to Papillion's 4.2
million ounce Fekola project, which is contiguous to, and 3km south
of, Bakolobi. 
Notes to Editor: 
The information in this statement has been reviewed by Mr Gordon
Thompson, who is Chief Executive Officer of Taurus Gold Limited and
has over 20 years' experience in mining operations. 
About Taurus Gold: 
Taurus Gold Limited is a private gold exploration company. The
Company's portfolio consists of 17 licences located in Cote d'Ivoire,
Burkina Faso and Mali, within the highly prospective Birimian
Greenstone Belt of West Africa. The Company's projects are in a
various stages of exploration, ranging from early exploration to NI
43-101 compliant resources at Afema, Cote d'Ivoire, and
Daramandougou, Burkina Faso. Additional information with respect to
the Group's projects can be found on the Company's website at
www.taurusgoldlimited.com. 
On behalf of: 
Gordon Thompson (CEO), Taurus Gold Limited 
Michelle Jenkins (CFO), Taurus Gold Limited
Contacts:
Gordon Thompson (CEO)
Taurus Gold Limited
+2711 781 2371
gordon.thompson@taurusgoldlimited.com 
Michelle Jenkins (CFO)
Taurus Gold Limited
+27 11 781 2371
michelle.jenkins@taurusgoldlimited.com 
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