Santana Minerals Limited (Company or Santana) refers to the acquisition of Mekong Minerals Limited's (Mekong) 75% interest in the Sayabouly Project in Lao and 85% interest in two Cambodian gold projects in which Mekong holds farmed out interests (Acquisition), which the Company completed on 9 December 2019.

The Acquisition was conditional on the Company offering holders of Mekong Options 6.814932335 Options for each Mekong Option held (Consideration Options) and Santana is please to advise that it has issued 45,862,352 Consideration Options to Mekong option holders.

The Consideration Options have an exercise price of $0.01 and an expiry of 14 months from issue and are subject to escrow for a period of 12 months from issue.

The Consideration Options were issued in accordance with the shareholder approval obtained at the general meeting of shareholders held 15 November 2019.

This announcement has been authorised for release to the ASX by the Company Secretary on behalf of the Board.

Contact:

Shane Pike

Tel: +61 417 671 301

Email: shane.pike@santanaminerals.com

About Santana

Santana is a nickel and precious metals explorer, focusing on the Sayabouly Project in Laos which contains the Phu Lon Nickel Prospect. Santana's precious metals projects include an 85% interest in the Cambodian Gold Projects (in joint-venture with Emerald Resources), a right to earn-in to an 80% interest in the Cuitaboca Silver-Gold project in Sinaloa State and an 85% interest in the Becker Gold project, Chile.

(C) 2019 Electronic News Publishing, source ENP Newswire