Base Metals

Brisbane, Australia (ABN Newswire) - Copper producer Austral Resources Australia Ltd (ASX:AR1) is pleased to announce that the Company has entered into a binding offtake and prepayment facility ("Offtake Agreement"), with one of the world's largest mining companies, Glencore plc (LON:GLEN).

Under the Offtake Agreement, Glencore will have the offtake rights for up to 40,000t of copper cathode production from Austral's Anthill Mine, with offtake scheduled to commence in the second half of 2022. Glencore will also provide Austral with a A$21m pre-payment facility.

The A$21m prepayment allows Austral to immediately expedite exploration and development activities through 2022, after which exploration will be internally funded from Anthill cashflow.

The Offtake Agreement with Glencore follows negotiations held with several parties eager to secure the rights to Austral's 40,000t of Anthill copper production and obtain an option to participate in the Company's future growth potential.

Steve Tambanis, Austral's Chief Executive Officer commented:

"We are delighted to have Glencore marketing 40,000t of Austral's Anthill copper production. Together with this offtake agreement, a A$21m prepayment facility enables us to accelerate our planned exploration programme and importantly, provides a solid financial buffer for Anthill's start-up phase over the next five months.

Glencore underwent a lengthy due diligence process to assess our production capabilities and is pleased with the high quality of Austral's copper cathode. Going forward, there is potential to review other copper development opportunities in the region.

Austral is on track to achieve a planned copper production rate of 10,000tpa from mid-2022 for a four year period.

Exploration and development activities are being significantly expanded with the intention of fast-tracking discoveries. We have engaged a first-class team of explorationists to undertake this work, have a detailed exploration strategy in place and have funding to enable these programmes.

We look forward to further updating shareholders as we prepare to commence maiden production at Anthill and commence exploration and development activities."

David Kelly, Glencore Copper Marketing, Australia commented:

"Glencore welcomes the opportunity to support Australian miners like Austral Resources by marketing their copper products to customers all over the world where it will be used to make everything from smart phones to solar panels."

Key transaction points

- Glencore to have the offtake rights for up to 40,000t of copper cathode production from Austral's Anthill Mine with offtake scheduled to begin in the second half of 2022.

- Glencore to provide a US$15m (A$21m) pre-payment facility to Austral, repayable over two years from late 2022.

Positive impact on Austral's exploration and development

Austral conservatively budgeted $5m in exploration expenditure over a two-year period from listing. Given the number of prospective exploration targets to evaluate, the Company is considering significantly increasing this expenditure up to $10m per annum, fully funded from Anthill production cashflows. The Company is also considering several value accretive exploration joint venture proposals to leverage its highly prospective 1,940km2 tenure holdings, utilise JV partner expertise and share discovery risk.

This is significant for Austral as this larger programme increases the potential for value adding discoveries with a larger exploration team to explore multiple prospects in parallel - all in a shorter timeframe.



About Austral Resources Australia Ltd:

Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.

Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.

About Glencore Plc:

Glencore Plc (LON:GLEN) is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group's global operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. Glencore is an active participant in the Extractive Industries Transparency Initiative. Its ambition is to be a net zero total emissions company by 2050.



Source:
Austral Resources Australia Ltd Glencore Plc



Contact:
Jane Morgan
Investor and Media Relations Manager
T: +61-405-555-618
E: jm@janemorganmanagement.com.au

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GLEN:LN,GLCNF
Stillwater Critical Minerals Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference

Stillwater Critical Minerals Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference

 Stillwater Critical Minerals (TSXV: PGE), focused on battery, catalytic and precious metals at the Company's flagship Stillwater West project in Montana, USA, is pleased to announce that it will be participating in THE Mining Investment Event of the North, which will be held IN PERSON and will take place on June 19-21, 2022, at the Fairmont Chateau Frontenac and Voltigeurs de Quebec Armoury in Quebec City, Canada.

CEO, Michael Rowley will be presenting at 2:50PM ET on June 20th. Management from Stillwater Critical Minerals will also be holding one-on-one investor meetings throughout the three-day conference. Interested parties should contact Nancy Larned at nlarned@vidconferences.com to inquire about registering to attend.

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Ellis Martin: Name Change for Major Battery Metals and Platinum Group Elements Company in a Premiere US Mining District

Ellis Martin: Name Change for Major Battery Metals and Platinum Group Elements Company in a Premiere US Mining District

Malibu, CA, United States (ABN Newswire) - Join Ellis Martin for a conversation with Michael Rowley, the President and CEO of Stillwater Critical Minerals Corp. (CVE:PGE)(OTCMKTS:PGEZF)(FRA:5D32).

Group Ten Metals Announces Name Change to Stillwater Critical Minerals Corp.

Group Ten Metals Inc. is pleased to announce that, effective at market opening on June 13, 2022, the common shares of the Company will trade on the TSX Venture Exchange under the name "Stillwater Critical Minerals Corp." to better reflect the commodity suite of battery, catalytic and precious metals at the Company's flagship Stillwater West project in Montana, USA. The project hosts a total of eight metals (nickel, cobalt, chromium, palladium, platinum, rhodium, iridium and ruthenium) designated as critical by the United States government with a mandate to secure domestic supplies based on economic and national security concerns. Stillwater West also hosts significant copper resources.

To listen to the Interview, please visit:
https://www.abnnewswire.net/press/en/110673/pge



About Stillwater Critical Minerals Corp.:

Stillwater Critical Minerals Corp. (CVE:PGE) (OTCMKTS:PGEZF) is a mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company's core asset is the Stillwater West project adjacent to Sibanye-Stillwater's high-grade PGE mines in Montana. Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath Gold Complex in northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada‘s Yukon Territory.



Source:
Stillwater Critical Minerals Corp.

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Group Ten Metals Announces Name Change to Stillwater Critical Minerals

Group Ten Metals Announces Name Change to Stillwater Critical Minerals

Group Ten Metals Inc. (TSX.V:PGE; OTCQB:PGEZF; FSE:5D32) (the "Company" or "Group Ten") is pleased to announce that, effective at market opening on June 13, 2022, the common shares of the Company will trade on the TSX Venture Exchange under the name "Stillwater Critical Minerals Corp." to better reflect the commodity suite of battery, catalytic and precious metals at the Company's flagship Stillwater West project in Montana, USA. The project hosts a total of eight metals (nickel, cobalt, chromium, palladium, platinum, rhodium, iridium and ruthenium) designated as critical by the United States government with a mandate to secure domestic supplies based on economic and national security concerns. Stillwater West also hosts significant copper resources

Group Ten Metals Inc. , Thursday, June 9, 2022, Press release picture

President and CEO Michael Rowley commented "Rebranding Group Ten Metals to Stillwater Critical Minerals reflects our increasing focus on our flagship project and the great potential we see in the iconic and famously productive Stillwater mining district. With the recent addition of two renowned Bushveld and Platreef geologists to our team we are well positioned to advance the next phase of large-scale critical mineral supply from the district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by our neighbor, Sibanye-Stillwater. Our Platreef-style nickel and copper sulphide deposits contain a compelling suite of critical minerals and are open for expansion along trend and at depth. We look forward to further announcements including assay results from our 2021 resource expansion drill campaign and our 2022 exploration plans in the near term."

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Austral Resources Australia Ltd Complementary Exploration Earn-in Agreements with Glencore

Brisbane, Australia (ABN Newswire) - Copper producer Austral Resources Australia Ltd (ASX:AR1) is pleased to announce that the Company has entered into reciprocal non-binding exploration earn-in agreements ("Earn-in Agreements") with MIM, a subsidiary of one of the world's largest mining companies, Glencore.

The reciprocal nature of the Earn-in Agreements is value generating for both parties. For Austral, this will involve expanding its oxide exploration activity in both the Exploration Area and within MIM's prospective Russell Fault EPM. Under the Earn-in Agreements, the parties agree to share exploration data and certain resources.

Under the Earn-in Agreements, MIM will have the rights to earn-in up to a 65% interest of Austral's JV EPM's by spending A$6.3m over four years. Austral retains the right to explore for and commercially exploit oxide copper ore within the Exploration Area. Additionally, under the Earn-in Agreement with MIM, Austral is entitled to earn-in up to 65% interest within MIM's Russell Fault EPM by spending A$2.0m over four years, effectively increasing our copper exploration area by 116km2.

The Earn-in Agreements are non-binding and subject to formal documentation being entered into.

Austral will keep the market updated on its status as required.

Key details of the Earn-in Agreements are contained in the balance of this announcement. The Earn-in Agreements with MIM are the culmination of negotiations held with several parties eager to joint venture into portions of Austral's highly prospective exploration tenure and obtain an option to participate in the Company's future growth potential.

Austral's Chief Executive Officer, Steve Tambanis, commented:

"We are excited to collaborate with Glencore on this exploration JV in Queensland's Northwest Minerals Province. Both parties hold a significant tenure position within the region, and it makes absolute sense to combine the tenure for an intensive exploration programme. Glencore are our offtake partners for 40,000t of our Anthill copper cathode and we look forward to working together from an exploration perspective.

This is a win-win transaction for both Austral and Glencore with the potential to discover new orebodies that can extend operations of both companies in the region. Glencore is focussed on discovering new base/precious metal orebodies in this metal-rich area and Austral believes there is excellent potential to define additional oxide copper resources to be processed at its nearby Mt Kelly SXEW plant.

The prospectivity of the area has been significantly enhanced by two new geophysical datasets (Heli-VTEM and a separate fixed wing Falcon Gravity survey) flown by Glencore in late 2021 and processed earlier this year. This new data has generated a number of priority targets for the JV and drilling is expected to commence within months.

Of note, Austral has retained its rights to explore for oxide copper mineralisation on its own tenure and has negotiated the right to explore MIM's tenure for oxide copper mineralisation. We believe that the increased drilling activity in this area will yield more shallow copper oxide mineralisation.

Of Austral's 2,100km2 of EPM tenure, this Earn-in agreement applies to a 330km2 portion immediately about the Lady Loretta Mine (Figure 1*). Austral retains 1,800km2 of EPMs for other exploration initiatives.

Austral recently commenced processing ore from its Anthill Copper Mine - building to rate of 10,000tpa of copper cathode from mid-2022 for a four-year period. This will now allow the Company to increase the pace of its exploration and development activities.

We look forward to further updating shareholders as we build copper production from Anthill and scale-up exploration and development activities."

*To view full details of the transaction, please visit:
https://abnnewswire.net/lnk/037YMZ16



About Austral Resources Australia Ltd:

Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.

Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.



Source:
Austral Resources Australia Ltd

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