New Era Updates Private Placement

BEIJING, China, May 06, 2020 (GLOBE NEWSWIRE) -- New Era Minerals Inc. (TSXV: NEM) (the “Company”) announced today that it has extended the date for completing its previously announced proposed non-brokered private placement of up to 17,000,000 common shares at C$0.05 per share by up to 30 days. The extension is required to provide additional time for closing logistics and the private placement and previously announced proposed debt settlement are expected to be completed shortly. Net proceeds from the private placement will be used for working capital and other general corporate purposes. 

About New Era

New Era Minerals Inc., through its wholly-owned subsidiary, Haijin International Group Limited, owns 95% of Xinjiang Yongkun Mining Co., Ltd (“Yongkun”). Yongkun's principal activities are the exploration, evaluation and development of mineral property interests in the People’s Republic of China (PRC), including Yongkun's Suyekebei (Suyeke North) nickel property located in Tuoli County, Tacheng Area, Xinjiang- Uyghur Autonomous Region, PRC.

For additional information please contact:

Vicky Gao, Corporate Secretary
Tel: 86-13801155400
E-mail : gaoweishan@nemnemnem.com

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