T.+61 2 8965 0200 F.+61 2 8965 0214 www.bounty.com.au
27 April 2015
Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street, SYDNEY NSW 2000
Bounty Mining Limited ("the Company") is pleased to announced that it has reached agreement with its Wongai project Joint-Venture partner Aust-pac Capital Pty Limited to vary certain terms of their Farm-in Agreement.
Under the original Farm-in agreement, Bounty had the option to earn up to a 40% equity position in the project by expenditure on resource delineation, pre-feasibility and feasibility studies and finalisation of an Environmental Impact Statement ("the Phase 1, 2 and 3 Works"). Bounty also had the right to acquire a further 11% equity in the project through a capital investment to reach a 51% position.
Following the variation to the agreement, Bounty now has the option to earn up to a 48% equity position by completing the Phase 1, 2 and 3 Works, and the right to acquire a further 3% equity through capital investment to reach the same 51% position.
The effect of this variation is to provide additional equity in the project to facilitate capital raising.
For further information, please contact:
Gary Cochrane
Chairman, Bounty Mining Limited
0417 654 090
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