montezuma to divest yamarna project e38/2889 … · well as other key portfolio assets. the...

11OCTOBER2017

MONTEZUMATODIVESTYAMARNAPROJECTE38/2889

HIGHLIGHTS

Ø AgreementreachedwithGoldRoad(NorthYamarna)Pty

LimitedtodivestYamarnaProjecttenementE38/2889.

Ø Montezumahasreceivedconsiderationof$150,000incash

atcompletion.

Ø Montezumatoreceiveadiscoverypaymentof$7.50per

resourceounceonfuturediscoverieswithinthearea

coveredbyE38/2889.

MontezumaMiningCompanyLtd(“Montezuma”or“Company”)advisesthatithasreachedagreementwithGoldRoad(NorthYamarna)PtyLimited(“GoldRoad”)todivestexplorationlicenceE38/2889.

GoldRoadhaspaidconsiderationof$150,000incashandhasagreedtopayMontezumaaDiscoveryPaymentof$7.50perresourceounceonfuturediscoverieswithintheareacoveredbyE38/2889.

GoldRoadmustprepareaMineralResourceStatementonatleastanannualbasisandpaytheDiscoveryPaymentoneachtroyounceofgoldaddedtotheglobalMineralResourcewithin45daysofthefinalisationofeachresourceupdate.

TheDiscoveryPaymentisalsopayableonouncesincludedinamineplanbutwhichhavenotbeenincludedinaJORCresource.

Thistransactionispartofanongoingstrategytorealisevaluefromnon-coreassetstoallowtheCompanytomaintainfocusontheadvancementofitscommercialisationactivitiesatthehighpurityButcherbirdManganeseProjectandthePinnaclesCobaltProjectaswellasotherkeyportfolioassets.

TheinclusionoftheDiscoveryPaymentinthetransactionalsoprovidesMontezumashareholderswithaneffectivefree-carryonfuturediscoveriesprovidingpotentialupsideexposurewithnoriskandnorequirementtoallocatefurtherfundstotheproject.

ABOUTMONTEZUMAMININGListedin2006,MontezumaMiningCompanyLtd(ASX:MZM)isadiversifiedexplorerprimarilyfocusedonmanganese,cobaltandgold.TheCompany’sprimaryobjectiveistoachievereturnsforshareholdersthroughselectedstrategicacquisitionsandtargetedexploration.

Montezumahas100%interestsintheButcherbirdManganeseProjectwhichhostsAustralia’slargestonshoremanganesedeposit,inadditiontothePinnaclesCobaltProjectandtheHolletonGoldProject,alllocatedinWesternAustralia.

MARKETDATAASXcode: MZMShareprice: $0.185Sharesonissue: 83.5MMarketcapitalisation: $15.5MCash(at30June): ~$4.2MListedInvestments(at30June): ~$7.1M

BOARDANDMANAGEMENTChairman SeamusCorneliusExecutiveDirector JustinBrownNon-ExecutiveDirector JohnRibbonsExplorationManager DaveO’Neill

Companyinformation,ASXannouncements,investorpresentations,corporatevideosandotherinvestormaterialontheCompany’sprojectscanbeviewedatwww.montezuma.com.au

For

per

sona

l use

onl

y

FORMOREINFORMATION…

JustinBrown

ExecutiveDirectorPhone:+61863151400Email:jbrown@montezuma.com.auCompanyinformation,ASXannouncements,investorpresentations,corporatevideosandotherinvestormaterialontheCompany’sprojectscanbeviewedat:http://www.montezuma.com.au.

TheinformationinthisreportthatrelatestoExplorationResults,ExplorationTargets,MineralResourcesandMineralReservesisbasedoninformationcompiledbyMrDavidO’NeillwhoisamemberoftheAustralasianInstituteofMiningandMetallurgy.AtthetimethattheExplorationResults,ExplorationTargets,MineralResourcesandMineralReserveswerecompiled,MrO’NeillwasanemployeeofMontezumaMiningCompanyLtd.MrO’NeillisageologistandhassufficientexperiencewhichisrelevanttothestyleofmineralisationandtypeofdepositunderconsiderationandtotheactivitywhichheisundertakingtoqualifyasaCompetentPersonasdefinedinthe2012editionofthe‘AustralasianCodeforReportingofExplorationResults,MineralResourcesandOreReserves’.MrO’Neillconsentstotheinclusionofthisinformationintheformandcontextinwhichitappearsinthisreport

Pleasenotewithregardtoexplorationtargets,thepotentialquantityandgradeisconceptualinnature,thattherehasbeeninsufficientexplorationtodefineaMineralResourceandthatitisuncertainiffurtherexplorationwillresultinthedeterminationofaMineralResource.

For

per

sona

l use

onl

y