Horizon Minerals Limited (HRZ.AX) Completes Divestment to Northern Star Receiving $3.1M Cash

Horizon Minerals Limited (ASX:HRZ) is pleased to advise that the divestment of 62 non-core tenements to Northern Star Resources Limited ("Northern Star" and "NST") has now been completed with all conditions precedent satisfied including the receipt of $3.1 million in cash into Horizon's bank account today.

Payment terms of the Asset Sale Agreement and the Royalty Deed are based on the following:

- Northern Star paying Horizon $3.1m in cash at completion.

- Additional potential deferred payments including:

- Discovery Payments of A$20 p/oz for any JORC compliant Mineral Resource located on the Tenements, capped at 2 million ounces (a maximum return of $40 million); and

- A Net Smelter Royalty ("NSR") of 0.5% on all metals and minerals extracted from the Tenements.

Grant Haywood
Chief Executive Officer
T: +61 8 9386 9534
E: grant.haywood@horizonminerals.com.au

Michael Vaughan 
Media Relations - Fivemark Partners 
T: +61 422 602 720 
E: michael.vaughan@fivemark.com.au

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