Breaker Completes Manna Divestment

Breaker Resources NL (ASX: BRB; the Company or Breaker) is pleased to advise that it has now completed the divestment of its remaining stake in the Manna Lithium joint venture including the transfer of ownership of the two surrounding Exploration licences to Global Lithium Resources Limited (ASX:GL1).

Breaker has today banked a further $60 million in cash taking its receipts from the Manna divestment to a total of $87.9 million or $0.27 per share over the past 11 months. This has funded both our continued exploration and evaluation of our core Lake Roe Gold Project without shareholder dilution and prudently strengthened our balance sheet to now hold over $80 million in cash. This sets the Company up with substantial fiscal capacity as we advance our core activities.

We have retained gold rights over all the areas divested so our core business is not diminished. We also retain our exposure to lithium with a 1.5% net smelter royalty (NSR) on any lithium and/or non-precious metal production over the majority of the EL’s divested to GL1 (excluding Manna Lithium Project area itself).

The Board of Breaker continues its focus on finding the best way to commercialise the Lake Roe Gold Project and its demonstrable open pit and underground mining potential. The recent recovery in the A$ gold price further enhances the outcomes here.

Breaker also seeks to continue its exploration track record of discovery with a maiden exploration drill program underway at its Ularring Project which is also the beneficiary of co-funding by the WA Exploration Incentive Scheme (EIS).

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