Element 25 Limited advised that an Access Agreement has been signed with the remaining stakeholder in relation to the granting of mining lease application M52/1074 at the Company's 100% owned Butcherbird Project. The lease application covers the planned mining and infrastructure areas for the proposed development of the Butcherbird Manganese Mine and is a critical step in progressing the project. The Agreement is between the Company and the owner of the Bulloo Downs Pastoral Lease, Ms Chandra Ridley. The Agreement sets a framework for a mutually beneficial relationship by providing for Ms Ridley to take advantage of appropriate contracting opportunities, contains certain milestone cash payments as well as setting up a cooperative framework to foster a strong working relationship going forward. The signing of this Agreement is the final milestone required for the mining lease application to be granted which will pave the way for the submission of mining approval documentation to the Department of Mines, Industry Regulation and Safety in relation to the Company's planned manganese ore production at the Butcherbird Project.