Ann: Settlement of Brazil Phosphate Project Acqui, page-2

re: Ann: Settlement of Brazil Phosphate Proje... Sydney - Wednesday - June 23: (RWE) - Newport Mining Limited
(ASX:NMN) advises that following shareholder approval in May 2010, the
company has now completed the acquisition of Aguia Metais Ltda, which
holds two highly prospective and potentially large-scale phosphate
projects located in Brazil.
The company reports that Aguia has made considerable headway
since the announcement of the acquisition was made in February 2010
including:
[1.] Mapping, rock chip sampling and traverses of soil sampling
at Mata da Corda the results of which were recently announced to the
market.
[2.] A substantial increase in land holdings for the Mata da
Corda Project, which are considered prospective for phosphate;
[3.] Finalisation of a substantial drilling program, which will
involve drilling over 8,000 metres in total across both projects.
[4.] Other opportunities within the phosphate sector in Brazil
are under review.
[5.] The technical team has been significantly bolstered with
the employment of an Exploration Manager and two Project Geologists with
extensive experience in phosphate.
In addition to the two phosphate project, Newport has a 3 year
exclusivity period with the vendor of the projects, Falcon Metais Ltda,
whereby if Falcon, or an associate or related corporation of Falcon,
obtains an interest in a phosphate project or right to obtain an interest
in a phosphate project that is wholly or partially within Brazil, such
interest must be offered to Newport at the cost incurred by the party
acquiring the interest.

Reuters.