Wed, 24 Jul 2019

Expiry of Terms Sheet with Indiana Resources

ACCESSWIRE
17 Jun 2019, 18:01 GMT+10

DIDCOT, UK / ACCESSWIRE / June 17, 2019 / Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa focused project and royalty generator, announces the expiry of the extension period that had been granted to ASX-listed Indiana Resources Ltd ('Indiana') in respect of a potential Joint Venture ('JV') on the Company's Lakanfla and Tabakorole gold projects ('Projects').

Lakanfla is located 6km southeast of the Sadiola gold mine in western Mali and Tabakorole is located approximately 100km southwest of the Morila gold mine in southern Mali. Historical drilling has returned reported intercepts of 26.0m at 5.10 g/t Au and 12.0m at 9.78 g/t Au at Lakanfla and 16m at 9.31 g/t Au, 14m at 9.84 g/t Au and 60m at 2.91 g/t Au at Tabakorole.

As a result of the expiry, the Company is now unrestricted from entering discussions with third parties in respect of a potential JV on the Projects.

Steven Poulton, Chief Executive of Altus,commented:

'Our Lakanfla and Tabakorole gold projects in Mali offer exceptional exploration potential. Opportunities to secure assets which are as prospective and in proximity to existing tier-one gold deposits are incredibly limited. These characteristics are reflected in the high level of interest Altus has received from third parties across our pipeline of gold projects in Mali. As such, while we are disappointed that it has not been possible to conclude the proposed deal with Indiana on Lakanfla and Tabakorole, we are very confident that one or more alternative transactions can be advanced. We will now open discussion to third parties and I look forward to updating shareholders on our progress in due course.'

Cautionary note regarding historical data

Readers are cautioned that the data on Lakanfla and Tabakorole as referred to in this written disclosure is historical exploration data that has not been verified by a Qualified Person. Not all historical samples are available and Altus does not have complete information on the quality assurance or quality control measures taken in connection with the historical exploration results, or other exploration or testing details regarding these results. There has been insufficient exploration to define a current resource and the Company cautions that there is a risk further exploration will not result in the delineation of a current mineral resource. The historical data should therefore not be relied upon until the Company can confirm it.

Qualified Person

The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. He has not verified the historical data disclosed in this regulatory announcement but has no reason to question its accuracy. A graduate of the University of Southampton in Geology (Hons), Steven Poulton also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101 Standards of Disclosure of Mineral Projects of the Canadian Securities Administrators.

Market Abuse Regulation (MAR)Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information you are invited to visit the Company's website www.altus-strategies.com or contact:

Altus Strategies Plc

Steven Poulton, Chief Executive

Tel: +44 (0) 1235 511 767

E: info@altus-strategies.com

SP Angel (Nominated Adviser)

Richard Morrison / Soltan Tagiev

Tel: +44 (0) 20 3470 0470

SP Angel (Broker)

Richard Parlons / Jonathan Williams

Tel: +44 (0) 20 3470 0471

Blytheweigh (Financial PR)

Tim Blythe / Camilla Horsfall / James Husband

Tel: +44 (0) 20 7138 3204

About Altus Strategies Plc

Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed project and royalty generator in the mining sector with a focus on Africa. Our team creates value by making mineral discoveries across multiple licences. We enter joint ventures with respected groups and our partners earn interest in these discoveries by advancing them toward production. Project milestone payments we receive are reinvested to extend our portfolio, accelerating our growth. The portfolio model reduces risk as our interests are diversified by commodity and by country. The royalties generated from our portfolio of projects are designed to yield sustainable long-term income. We engage constructively with all our stakeholders, working diligently to minimise our environmental impact and to promote positive economic and social outcomes in the communities where we operate.

Cautionary Note RegardingForward-Looking Statements

Certain statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this news release.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Altus Strategies PLC



View source version on accesswire.com:
https://www.accesswire.com/548949/Expiry-of-Terms-Sheet-with-Indiana-Resources

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