PROPOSED MERGER WITH NORTHERN MANGANESE LIMITED AND IMMEDIATE...

PROPOSED MERGER WITH NORTHERN MANGANESE LIMITED AND
IMMEDIATE SALE OF 51% STAKE IN REDCLIFFE GOLD PROJECT
AIMING TO ACHIEVE NEAR TERM GOLD PRODUCTION
Highlights
 51% stake in Redcliffe Gold Project sold to Northern Manganese Limited
 Redcliffe receives $260,000 in cash and 13,888,889 NTM shares
 Transaction provides funding toward bringing Redcliffe Gold Project into production
rather than going back to shareholders
 NTM personnel have extensive experience in mining in WA and assume project
management
 The transaction includes agreement to operate as Farm-In/Joint Venture in the interim
 Redcliffe and NTM propose to merge the companies to be effected by way of a
Scheme of Arrangement of Redcliffe