Ann: Isabel Nickel Project update-AVQ.AX, page-4

ASX Announcement Isabel Nickel Project update Highlights 

Solomon Islands’ Ministry of Mines, Energy and Rural Electrification (‘the Ministry’) issued a public notice regarding the Isabel Nickel Project.

Key points are as follows:
o The Ministry has committed to run an “inclusive, transparent process that Is strictly compliant with all requirements under the Mines and Minerals Act (Cap 42) and the Environment Act (1998) and other relevant legislation to avoid further legal implications and delay in the development of mineral rights of great promise and potential benefit for all stakeholders”
o The Ministry will provide further details about the process to receive expressions of interest for the Isabel nickel deposits.

 Axiom has submitted its application for a Prospecting Licence with the Ministry, and if required, will submit further material for the process when it is announced. Axiom Mining Limited (‘Axiom’ or ‘the Company’) welcomed a 6 May 2016 public notice from the Solomon Islands Government stating its position on the Isabel Nickel Project. Axiom Chief Executive Officer Mr Ryan Mount said, “We are pleased that the Ministry has committed to an inclusive and transparent process for applications to sustainably develop the Isabel nickel deposits. “Axiom and our landowner partners’ investment in the Isabel Nickel Project goes beyond 18 months of extensive exploration and mine planning to defined the first five years of production—we upskilled our local workforce and worked with local communities to develop small businesses and community infrastructure.”

Mr Mount was confident that Axiom’s approach to sustainable mine development, the Company’s strong ties with the customary landowners and the robust technical work undertaken to date, would give Axiom a competitive advantage during the new application process.