Macarthur Minerals Lithium Acreage Expected To Grant By November/December 2016 And Update On Iron Ore Assets

Macarthur Minerals (TSXV:MMS) (the “Company” or “Macarthur Minerals”) is pleased to announce that the majority of its total lithium acreage of 1,489 square kilometres1 is expected to grant by November/December 2016.

David Taplin, President, CEO and Director of Macarthur commented:

“The expected grant of the majority of Macarthur’s lithium acreage by November or December will be a major step forward for Macarthur exploring for lithium in the Pilbara region of Western Australia. In addition, I am pleased to observe that the iron ore spot price today is up by 5% to $US62.272 a tonne, a very positive development for the Company’s significant iron ore project, which has granted tenure and environmental approval to mine”.

McMahon Mining Title Services Report –Macarthur Minerals Lithium Licences

Macarthur Minerals retains the services of McMahon Mining Title Services (“MMTS”) to manage the Company’s exploration and mining licences. As detailed in Table 1, MMTS has advised the Company that 13 out of 20 of the Company’s Exploration Licence Applications (“Applications”) for lithium are expected to grant by November/December 2016.

The grant of exploration licences in Western Australia requires advertisement in accordance with the Mining Act 1978 (WA) (“Mining Act”) and subsequent advertisement in accordance with the Native Title Act 1993 (Cth)(“Native Title Act”).

All Macarthur Minerals’ Applications have been advertised in accordance with the Mining Act and no objections have been maintained. Agreements have been entered into with owners of any overlapping infrastructure leases, where required. An Access Arrangement for Application E46/1115 is currently being finalised.

The majority of Macarthur Minerals’ Applications are now progressing through the Native Title Act advertising period, during which, heritage agreements will be entered into with native title parties and provided no objections are raised, are expected to grant in November/December. The remaining Applications will be advertised in the near future.

Until Exploration Licences are granted, the Company will continue prospecting activities to identify exploration targets.

Iron Ore Acreage Update

In addition to Macarthur’s lithium acreage, the Company has 15 granted Mining Licences and miscellaneous licences covering 140 square kilometres for its two iron ore projects located North West of Kalgoorlie in Western Australia:

• Ularring Hematite Project consisting of Indicated 54.46 Mt @ 47.2% Fe and Inferred 25.99Mt @ 45.4% Fe3.
• Moonshine Magnetite Project consisting of Inferred Mineral Resource consisting of 1,316 Mt @ 30.1% Fe4.

The Company has received approval to develop an iron ore mine for the Ularring Hematite Project and associated infrastructure under the Environmental Protection Act 1986 and the Environmental and Biodiversity Conservation Act 1999. There are no native title claims affecting the iron ore projects.

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