Lunnon Metals Limited announced that it will acquire the exclusive rights1 to nickel on the whole, or portions, of 19 mining leases over the historical Fisher and Silver Lake nickel mines by entry into a Mineral Rights Agreement with SIGMC (Mineral Rights Agreement or MRA). The tenements are on the immediate north side of Lake Lefroy, abutting tenements or nickel rights held by Mincor Resources NL at its Long Operation on the eastern side of Kambalda and its Coronet asset to the west of the township and the sub lease rights held by TSX listed Karora Resources at the Beta Hunt Mine to the south. As consideration for the acquisition, the Company will issue $20 million of fully paid ordinary shares to SIGMC, at a price per share of $0.93.

The rights acquired will include access to the historical nickel mines of Silver Lake and Fisher which produced over 161,000 tonnes of nickel metal during their operational lives under WMC Resources Ltd. (now called BHP Nickel West Pty Ltd) (WMC) ownership.