Metals X : Acquisition of Georges Reward Project

The directors of Metals X Limited (Metals X) are pleased to advise that they have reached agreement with Northern Mining Limited (79%) and Balagundi Pty Ltd (21%) to acquire the outright interests in E25/268 and the beneficial rights of MLA 25/357 covering the Georges Reward Project at Bulong in Western Australia.

The consideration is a cash sum of $4.5 million.

The Georges Reward Project is contiguous with the Cannon Project of Southern Gold Limited with which Metals X has a contract management and profit sharing agreement from the mining of the Cannon deposit which is due to commence in the ensuing months.