Viking Ashanti Limited announced it had entered into a binding Heads of Agreement with Auminco Mines Limited (AUM or Auminco) under which Viking Ashanti has agreed to merge with Auminco in a share exchange transaction. The agreement will see Viking Ashanti acquire 100% of the Auminco shares and options by the issue of: 81,000,000 Viking Ashanti shares; 27,000,000 million unlisted Viking Ashanti options exercisable at AUD 0.12 for a term of 30 months from merger completion; and 3,000,000 unlisted Viking Ashanti options exercisable at AUD 0.20 on or before 15 November 2016. The proposed post-merger Board will comprise four members with existing Viking Ashanti Directors, Mr. Jack Gardner and Mr. Peter McMickan remaining as Chairman and Executive Director respectively.

Auminco's Mr. Andrew Whitten will join the Board as Non-Executive Deputy Chairman while Mr. Matt Morgan will become Managing Director. Mr. Bayar Tsa,gdaa will act as an alternate for Mr. Andrew Whitten.