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Wiluna Mining Corporation Ltd (WMX.AX) Clarification on Wiluna Mining and GWR Joint Venture

·2-min read
Wiluna Mining Corporation Ltd
Wiluna Mining Corporation Ltd

Wiluna Mining Corporation Ltd (WMX.AX) Clarification on Wiluna Mining and GWR Joint Venture

Perth, Australia, Dec 18, 2020 - (ABN Newswire) - Wiluna Mining Corporation Limited (ASX:WMX) (HAM:NZ3) (OTCMKTS:WMXCF) would like to clarify the following regarding the Deposit Identification and Mining JV agreement with GWR Group Limited (ASX:GWR).

GWR Group Limited (ASX:GWR) announced on 16 December that it has terminated its JV Agreement with Wiluna Operations, a subsidiary of Wiluna Mining. Wiluna Mining has written to GWR and its subsidiary Wiluna West Gold Pty Ltd (WWG) to advise that, although WWG has not yet identified a deposit that would qualify as a feed source to WMC's free milling operations, it does not have a valid basis to terminate the JV Agreement.

The JV Agreement includes provisions that requires WWG to use its best endeavours to continue to identify Potential Qualifying Deposits, and Wiluna Mining has advised GWR that it requires WWG to continue to comply with that obligation.


About Wiluna Mining Corporation Ltd:


Wiluna Mining Corporation (ASX:WMX) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 6.4 Moz at a grade of 2.1 g/t Au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.

Contact:

Milan Jerkovic
Executive Chair
+61 8 9322 6418

Jim Malone
General Manager
Investor Relations
+61 419 537 714

Dannika Warburton
Media & Communications
+61 401 094 261

Source:
Wiluna Mining Corporation Ltd

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