Ann: INTEREST IN RED BORE INCREASED TO 90% , page-2

Wonderful outcome....a little more than I expected.

90% THX and 10% to Richmond plus $60k

Just hope they can now find the good stuff.

Copy of news item below;
....................

Thundelarra is pleased to announce that a Deed of Settlement and Release was signed today with prospector Mr Bill Richmond and Kallenia Mines Pty Ltd, bringing to a close the long-standing uncertainty regarding the Red Bore prospect (M52/597) in Western Australia’s Doolgunna region.
Further to the ASX announcements of 29 October 2013 and 20 November 2013, Thundelarra, Mr Richmond and Kallenia have agreed to settle all outstanding matters relating to the recovery of costs awarded by the Supreme Court in relation to the Red Bore and Yerrida disputes.
The material terms of the Settlement are:
? The parties release each other from any obligations or liabilities in respect to Supreme Court costs;
? Richmond transfers an additional 30% interest in Red Bore to Thundelarra (bringing Thundelarra’s total interest in Red Bore to 90%);
? Thundelarra transfers a 10% free-carried interest in Curara Well (E52/2402) to Richmond;
? The existing Red Bore Exploration Joint Venture is dissolved and replaced by a new Exploration Joint Venture Agreement covering Red Bore;
? A separate Exploration Joint Venture Agreement is established over Curara Well;
? Thundelarra issues two million (2,000,000) fully paid ordinary shares in Thundelarra to Richmond at an issue price of $0.036 per share; and
? Thundelarra pays Richmond $60,000 for mining information in relation to Red Bore.
The milestone achieved today with this settlement now opens the way for Thundelarra to recommence active exploration at Red Bore. A Program of Work has been approved and we anticipate that drilling will begin before the end of April. The initial aims of the program will be to improve the understanding of the geology and geometry of the known mineralisation that was the basis for the resource announced on 04 May 2012; and to establish the geology and structures that may exist in the north-west corner of the tenement.
Thundelarra Chairman Phil Crabb commented: “Our executives, led by Mr Tony Lofthouse, are to be congratulated in resolving the four year dispute pertaining to this matter. The Company can now move forward with confidence now that the tenure issue is settled”.
For Further Information Contact: THUNDELARRA LIMITED Mr Tony Lofthouse - Chief Executive Officer Issued Shares: 273.5M +61 8 9389 6927 ASX Code: THX