Black Canyon Limited (ASX:BCA) entered into a binding Tenement Sale Agreement to acquire E46/1383 from Access Australia Mining Pty Ltd for AUD 0.5 million on March 24, 2023. Under the consideration, Black Canyon will issue AUD 0.2 million worth of Shares at settlement, with the number of BCA Shares issued based on the 20 day VWAP of BCA Shares before the Execution Date; and AUD 0.3 million worth of Deferred Consideration Shares upon estimation of a JORC compliant Mineral Resources from E46/1383 equal to, or greater than 50Mt grading at least 10% Mn (Milestone). The number of BCA Shares to be issued on achievement of the Milestone will be based on the 20 day VWAP of BCA Shares before the ASX announcement is released reporting the Milestone has been met. AAM will retain the rights to explore for and mine any copper mineralization on the tenements under a Mineral Rights Deed that has been executed by Black Canyon and AAM.

Black Canyon Limited (ASX:BCA) completed the acquisition of E46/1383 from Access Australia Mining Pty Ltd on June 14, 2023.