Win Metals general discussion, page-27

HERE 'tis

HIGHLIGHTS
▪ Conditional Agreement reached to divest the Palm Spring Gold Project in the Kimberley region
of Western Australia to WIN Metals Ltd
▪ Consideration comprises a series of staged payments of cash and WIN Metals’ shares with an
aggregate value of up to $5 million1
▪ Transaction supports Meteoric’s full focus on the flagship Caldeira Rare Earth Ionic Clay Project
(Caldeira Project) in the state of Minas Gerais, Brazil
Meteoric Resources NL (ASX: MEI) (Meteoric or the Company) is pleased to announce that it has signed a tenement sale agreement with WIN Metals Ltd (ASX:WIN) (WIN Metals) in relation to the Palm Springs Gold Project in the Kimberley region of Western Australia (Palm Springs).
Palm Springs comprises 100% of tenement M80/418, 97% of M80/315 and M80/416, five exploration
licences (E80/4856, 4874, 4976, 5059 and 5584), three prospecting licences (P80/1839, 1854 and 1855) and two licence applications (P80/1884 and E80/5660).
Up front consideration to Meteoric comprises the following:
▪ A deposit of $50,000 plus GST (already received);
▪ A cash payment of $950,000 plus GST upon settlement; and
▪ WIN Shares to the value of $1.75M upon settlement (at a deemed issue price of the next WIN
Metals capital raising and subject to 12-month voluntary escrow).
The agreement is subject to a number of conditions precedent standard to a tenement sale agreement
and in addition WIN Metals is required to complete a minimum $3M capital raising within 75 days of signing the agreement.
Consideration payable to Meteoric post-settlement comprises:
▪ A cash payment of $1M plus GST 18 months after settlement; and
▪ A cash payment of $1.25M plus GST upon the production of 20,000oz of gold from Palm Springs.
Meteoric Executive Chairman, Andrew Tunks said,
“We are pleased to have reached this agreement with WIN Metals. It will realise value from what has
become a non-core asset and enable the full focus of Meteoric on the Caldeira Ionic Adsorption Clay
Rare Earth Element Project in Brazil.
“The transaction structure will see us receive a combination of cash and WIN Metals shares which will
enable us to maintain some exposure to future upside from Palm Springs. We believe WIN Metals has a
high quality technical team and a motivated Board to drive the project forward.
1 Transaction value includes an estimated $1.75 million in WIN Metals shares based on a deemed issue price of a future capital
raising to support the transaction.
“The additional cash funding will further strengthen our balance sheet and support activities at Caldeira.”
This release has been approved by the Board of Meteoric Resources NL.

GLALTH Mal ..