Environmental Approval Awarded for Lindi Jumbo Graphite Project

Emerging African graphite producer Walkabout Resources (ASX:WKT) is pleased to announce that the Environmental Impact Assessment (EIA) Certificate, issued in terms of Section 92(1) of the Environmental Management Act No. 20 of 2004 of the United Republic of Tanzania, has been granted to the Company in respect of the Lindi Jumbo Graphite Mine.

The certificate is an important pre-requisite to the Mining Licence Application (MLA) which can now be submitted to the Ministry of Energy and Minerals. The Company expects the Mining Licence to be granted during the 3rd quarter of 2017. Under Tanzanian mining regulations, a Mining Licence is designed for use in mines with initial capital of less than $100m and the process for application is far less onerous and streamlined than that for a Special Mining Licence.

Executive Chairman of Walkabout Resources, Trevor Benson commented:

“The awarding of the EIA is a major milestone in moving towards a mining licence and to attracting development funding. The project can now progress along its planned development pathway in parallel with ongoing negotiations with potential off take partners and securing development capital.”

The issue of the EIA is an important milestone for the Company which has recently completed a definitive feasibility study and is currently in the process of securing funding for the Lindi Jumbo Project.

Further to the Mining Licence Application is the advanced stage of the Relocation Assistance Programme (RAP) which outlines agreement between the local stakeholders that are affected by the mine and the Company.

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