Announcement out:
ACQUISITION OF ENTERPRISE METALS LIMITED
The Directors of Revere Mining Limited (‘RVM’, ‘Revere’ or ‘Company’) are pleased to announce
that the Company has entered into a Terms Sheet with Enterprise Metals Limited (‘ENT’ or
‘Enterprise’) to acquire all of the shares of ENT (“Acquisition”). As consideration for the
Acquisition, Revere will issue RVM shares to the Enterprise shareholders on the basis of one RVM
share for one ENT share.
This Acquisition is very exciting for Revere which, up to now, has been focussed entirely on gold
exploration at its Revere project 90 km NE of Meekatharra. The Acquisition will broaden Revere’s
commodity base to include base metals, iron ore and uranium and add considerable depth to the
geographic areas now under Revere’s control. Many of the tenements held by Enterprise contain
prospects with known mineralisation, which should provide Revere with high quality and immediate
drill targets, and a faster route to exploration success.
Completion of the Acquisition is subject to:
· satisfactory completion of due diligence by Revere and Enterprise in relation to each other,
· Revere obtaining the necessary shareholder approvals to issue the shares to the Enterprise
shareholders and complete the Acquisition,
· Revere entering into service or consultancy agreements for the engagement of Mr Dermot
Ryan as Managing Director and Mr Bruce Hawley as an executive Director of Revere, and
· no material adverse changes occurring in relation to either Revere or Enterprise prior to
completion of the Acquisition.
BACKGROUND
Enterprise is an unlisted public company which has, under the directorship of well known geologist
Dermot Ryan, consolidated a highly prospective group of Western Australian gold, base metals,
iron ore and uranium projects from a number of private vendors. These projects were secured by
Enterprise on the basis of known mineralisation and potential for discovery of substantial ore
deposits.
RVM
revere mining limited
