Intermin Resources Limited (IRC.AX) Signs Exclusivity Deed for Potential Acquisition

Intermin Resources Limited (ASX:IRC) (FRA:I6R) has entered into an Exclusivity Deed with Focus Minerals Limited ("Focus") relating to the potential acquisition of Focus' 2.1Moz Coolgardie Gold Project, which includes the 1.2Mtpa Three Mile Hill processing plant (currently on care and maintenance)

Highlights:

- A deferred payment structure has been proposed totalling A$40 million payable in cash and shares over a 3.5 year period

- The five month exclusivity period allows the parties the opportunity to finalise formal transaction documentation and secure necessary approvals for the potential acquisition

- Intermin's entry into the Exclusivity Deed was consented to by MacPhersons Resources Limited ("MacPhersons")

Commenting on the rationale for the Company's interest in acquiring the Coolgardie Gold Project, Intermin Managing Director Jon Price said:

"The potential consolidation of the Intermin and MacPhersons assets with the Coolgardie Gold Project would be a natural fit, delivering additional high grade open cut and underground ore sources to the base load Boorara Project and Intermin's satellite projects, as well as a conventional 1.2Mtpa processing facility."

"We look forward to working with MacPhersons and Focus on progressing these transactions and embarking on an exciting new chapter for all shareholders and the regional communities in which we operate."

To view further information, please visit:
http://abnnewswire.net/lnk/ZXW1C4I5

Jon Price 
Managing Director
Tel: +61-8-9386-9534
E: jon.price@intermin.com.au

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

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