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Perth, Mar 28, 2012 (ABN Newswire) - South Boulder Mines Limited (ASX:STB) is pleased to announce the appointment of Azure Capital Limited ("Azure") as corporate advisor. Azure's primary role will be to assist with the evaluation of the Colluli Potash Project in respect of the paid participation interest of the Eritrean Government through the Eritrean National Mining Corporation ("ENAMCO") referred to in South Boulder's ASX release dated 26th March 2012.

The assignment will involve the negotiation and execution of a sale of an equity stake in the Colluli Potash Project to ENAMCO.

Azure is a Perth based corporate advisory firm with extensive natural resources experience focused on mergers and acquisitions, project finance and debt advisory, equity capital markets and the provision of general corporate advice.

About South Boulder Mines Limited

CMSC owns exploration tenements spanning over 400km2 within the Danakil Depression in South East Eritrea.

Since 2010, 97 holes have been drilled identifying a resource containing more than one billion tonnes of potassium bearing salts suitable for the production of potash fertilisers.

South Boulder Mines Ltd is currently working on the Feasibility Study to support the development of the project.


Contact

South Boulder Mines Limited
T: +61-8-6315-1444
F: +61-8-9486-7093
WWW: www.southbouldermines.com.au



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