Hummingbird Resources Update

06 November 2012
Hummingbird Resources Update

Hummingbird Resources plc - IFC Subscription Agreement Signed

Further to the announcement on the 20th August 2012 Hummingbird Resources is pleased to announce that following the requisite disclosure period, IFC and the Company have entered into a binding subscription agreement confirming the investment by IFC of approximately £3m for 5.4% of the issued share capital.

The subscription agreement reflects the terms previously announced and will result in an IFC investment of £3m in the Company. The funds are expected to be disbursed by IFC shortly once the Company has satisfied certain standard conditions precedent under the agreement.

Dan Betts, CEO, said:

"We are pleased to have secured IFC's investment through the signing of the subscription agreement and look forward to working with IFC to develop the Dugbe 1 Project."

Tom Butler, IFC Global Head of Mining, said:

"Hummingbird shares IFC's commitment to responsible mining exploration. The Dugbe 1 Project has good prospects and the potential to bring significant future economic benefits to Liberia."