Resource Mining Corporation Limited announced that it has executed a Binding Term Sheet for the acquisition of Element92 Pte Ltd, the ultimate owner of three projects in Finland ­ the Ruossakero Nickel Project in Northern Finland, the Kola Lithium Project in Central Finland, and the Hirvikallio Lithium Project in Southern Finland. This Binding Term Sheet follows the earlier securing of an exclusive option period during which time the Company completed extensive due diligence activities on the Target Projects including the purchase of a significant volume of historical data on the Target Projects, the commis ioning of an external review by Skapto, and a field visit by the Executive Chairman. Due Diligence and Field Trip: The company has completed all components of its intended due diligence program, with the assistance of Skapto, Geological and Geophysical specialists engaged by RMI: Acquired and processed all relevant existing datasets from Finnish Geological Survey.

General survey of the full project areas to obtain a better understanding of the local geology, to verify and correct existing geological maps and to sample relevant outcrops. Detailed survey of the areas with known mineralisation, including detailed geological and structural mapping and sampling of existing pits and trenches and outcrop. Detailed survey of potential new targets identified during the general area survey.

Findings from Skapto's due diligence, and the field trip completed by the Company and consultants, have been highly encouraging and the Company reported that the data suggest that all three Target Projects have significant exploration potential. Target Projects: Kola: The project area lies 40km southeast of the major industrial centre of Kokkola. The prospective Kaustinen area is part of the Paleoproterozoic Pohjanmaa Schist belt, which is a large (350 x 70km) arc-shaped structure formed between the Central Finland granite and the Vaasa Migmatite complexes.

Mica schists, metagreywackes and gneisses are the most common rock types found within the Pohjanmaa Belt and are intercalated with metamorphosed volcanic rocks. These supracrustal rocks are cross-cut by pegmatites of the albite-spodumene subgroup of LCT pegmatite family. It is important to note that Finnish company, Keliber Oy has tenements contiguous with Kola on the northwest edge of the reserve.

Pegmatite veins up to thirty metres wide are reported by Keliber. The geology of the Keliber areas extends into the Kola reservation and abundant spodumene-containing pegmatite boulders in the reservation area, especially directly south of the major Syväjärvi and Rapasaari deposits, indicate the potential presence of significant LCT pegmatite bodies. Sampling through Kola's boulder fields during the recent field trip located an outcropping pegmatite that was not a known mapped feature and was within 5km of the Kelivber resource.

This pegmatite sat approximately 10m above the surrounding landscape, was 40m wide and over 100m long. The team also encountered some significant mineralised boulders, with spodumene crystals >200mm in length and broad associations across the reserve area. The company considers Kola to be a priority target given the evidence gathered from the data review, findings from this field work, and the location relative to the now developing Keliber mine.

In total, 59 samples were taken in the Kola reservation area and sent to ALS Finland, with results pending. Hirvikallio: Hirvikallio is situated in the Somero-Tammela area, Southern Finland with the Finnish Geological Survey GTK considering it one of the most promising lithium pegmatite provinces in Finland. The Somero-Tammela area is in the Häme volcanic belt that comprises volcanic rocks intercalated with minor greywackes and metamorphosed clay-rich sediments units which have been intruded by plutonic rocks and late-tectonic K-granites with associated pegmatite dykes.

The key regional lithium deposits are located in the northern part of Somero municipality and in the southern part of Tammela municipality. This includes two drilled pegmatites: Kietyönmäki (outside the Hirvikallio reservation) and Hirvikallio, which are both high-grade, with unknown depth and strike. There is a very large area of pegmatites in an area central to the reservation with over 5 visited in the field trip, including with strikes well in excess of a kilometre and widths >500m.

A further 3 were noted by further work post the field trip (due to not being accessible at the time of the field trip). The acquired Hirvikallio data assisted the identification, during the site visit, of the location of historical drill hole M52-TAM-58-00, which cuts 15.5 m (apparent width) of pegmatite, including 5m @ 2.31% Li2O and 3m @ 2.28% Li2O. Field observations show that the non-zoned LCT-pegmatite vein at Hirvikallio contains spodumene and greyish petalite, is roughly 5 to 25m wide, and continues along strike for at least 120m.

The depth extension is not known. Currently estimated resources in the Hirvikallio pegmatite are small, non-compliant, and based on just this one drillhole and outcrop observations. Field observations indicate that this resource can be increased with additional drilling.

A number of additional outcropping pegmatites, possibly enriched in Petalite /Spodumene were observed and sampled in the area around the known Hirvikallio occurrence. The reserved area also includes the Lumireenhaara occurence. 108 rock chip samples from boulders and outcrops were taken in Hirvikallio and sent to ALS Finland, with assay results pending.

Ruossakero: The most northern of the project areas, Ruossakero, is located 160km north of the resort town of Kittala and is situated in the northwestern edge of Finland, near the Swedish border. The Ruossakero Nickel Sulphide deposits are hosted by Archean komatiitic ultramafic bodies and are considered to be the `Contact-type' of Ni-Cu-PGE emplacement related to the komatiites flowing across sulphur enriched sediments /volcanics and settling the resultant sulphides from the lava to the base. The largest of the komatiite occurrences is recorded as 4 km in length and 0.1 to 1.5 km in width.

The depth is at least 400 m. In the field, sulphur-rich sediments within the Archean aged geology were located, providing opportunity for both VMS styled mineralization as well as providing indicators of the various komatiite potential settings both at Ruossakero as well as to the north in large untested ultramafic that has a large contact zone with what has been mapped as potentially sulphur bearing sediments.