Macarthur Minerals Completes Settlement on Melville Gold Project
VANCOUVER, British Columbia, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V: MMS) (the “Company” or “Macarthur Minerals”) is pleased to announce that it has received a further A$200,000 from Mining and Metallurgy Process Solutions Pty Ltd (“MMPS”) for settlement concerning the Melville Gold Project. The Company has now received an aggregate of $300,000 relating to the Melville Gold Project.
Cameron McCall, Executive Chairman of Macarthur Minerals commented:
“These additional funds, along with $1.9 million that will be received from the Rights Offering, will be directed towards exploration of Macarthur Minerals’ gold and lithium projects in Pilbara, as well as its Reynolds Springs lithium brine project in Nevada, The Company will also continue to advance its iron ore projects in the Yilgarn region of Western Australia towards development.”
The Company would like to again, remind its shareholders of record, that they have until 5:00 p.m. (Toronto time) on December 12, 2017 to exercise their rights as part of the Rights Offering.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS)
Macarthur Minerals Limited is an exploration company that is focused on identifying high grade lithium and gold. Macarthur Minerals has significant lithium, gold and iron ore exploration interests in Australia and Nevada. Macarthur Minerals has two iron ore projects in Western Australia; the Ularring hematite project and the Moonshine magnetite project.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
“Cameron McCall”
Cameron McCall, Executive Chairman
Company Contact:
David Taplin, Joint CEO and Director
dtaplin@macarthurminerals.com
Tel: +61 407470044
Joe Phillips, Joint CEO and Director
jphillips@macarthurminerals.com
Tel: +61 448899247
www.macarthurminerals.com
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Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.