News: MEP Minotaur Exploration Says Cloncurry Alliance Established JV HOA With Sandfire Resources

Feb 18 (Reuters) - Minotaur Exploration Ltd (MEP) :

• MINOTAUR EXPLORATION & OZ MINERALS' CLONCURRY ALLIANCE ESTABLISHED JV HEADS OF AGREEMENT WITH SANDFIRE RESOURCES LTD
• AGREEMENT OVER EXTENSIVE SANDFIRE TENEMENT GROUP NEAR CLONCURRY, QUEENSLAND
• JV REQUIRES CLONCURRY ALLIANCE TO INVEST $1 MILLION IN EXPLORATION IN FIRST YEAR
• CLONCURRY ALLINCE MAY EARN INITIAL 51% TENEMENT INTEREST BY SOLE FUNDING FURTHER $3 MILLION THROUGH NEXT 2-YEAR PERIOD
• TO ATTAIN MAXIMUM INTEREST OF 75% OVER 5 YEARS CLONCURRY ALLIANCE MUST INVEST $8 MILLION
• OZ MINERALS TO CONTRIBUTE ALL REQUIRED EXPLORATION FUNDING UP TO $4 MILLION OVER 3 YEARS