Double from now on the news of shipment, page-72

page 24

On 15 September 2020, Venture signed an earn-in agreement with Bright Point Gold Pty Ltd to acquire up to 100% of tenement E59/1989 (“the project”) on the following terms:
• A 51% JV interest by paying $200,000 cash and spending $1 million on exploration within two years, including a minimum of $300,000 in the first year which must include a minimum of 1,500m of reverse circulation or diamond core drilling.
• An 80% JV interest by spending a further $3 million on exploration over the following two years.
• Bright Point has the right to clawback to a 49% interest or dilute to a 10% interest upon the completion of aBankable Feasibility Study or Definitive Feasibility Study (whichever comes first) on the project.
•Once Venture has earned 90% interest, Bright Point must elect to either contribute or dilute to a royalty of 1% of the net smelter return.