| May 26, 2017

JOHANNESBURG,Plans are underway to re-open the Lily Gold Mine near Barberton in South Africa's Mpumalanga Province following the merger of Vantage Goldfields, which owns the Lily Gold Mine, with another mining company, enhancing prospects for the re-opening.

Lily Gold Mine remains shut following a massive landfall last year which trapped three workers underground and their bodies have not yet been recovered. Miners Pretty Nkambule, Solomon Nyarenda and Yvonne Mnisi were in a steel container which served as a lamp room when a section of the mine caved in on them in February 2016.

Both workers and the management of Vantage Goldfields are optimistic that the Lily Mine will re-open soon. However, the company needs millions of rand to re-start operations and also to recover the bodies of the three mine workers who were trapped underground.

Vantage Goldfields chief executive officer Mike McChesney Thursday told former workers of Lily Mine that Vintage Goldfields had decided to merge with another mining company, Galane Gold, in an effort to obtain funds to re-open the mine. Although Galane Gold does not have all the money needed to get the mine working again, they are hoping that the deal will improve access to funding.

Association of Mineworkers and Construction Union (AMCU) has welcomed the efforts being made by Vantage Goldfields to source funds. Its regional secretary, John Sibiya says, We are happy with the communication today from the company's side which shows that it's trying, but as a union, we are still waiting for the final document for the business rescue where they would tell us that 'now we have secured the deal with those companies' because I heard that there is an agreement between Vantage and Galane Gold.

McChesney said in the next few weeks Vantage Goldfields would release more information regarding their other plans about the future of Lily Mine.


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