Saracen Mineral Holdings Limited (ASX: SAR) and Northern Star Resources Ltd (ASX: NST) are pleased to provide the following update on the proposed merger under which Northern Star will acquire all of the shares in Saracen by way of a scheme of arrangement (Scheme).

The Supreme Court of Western Australia has on 9 December 2020 made orders: that Saracen convene a meeting of Saracen shareholders to consider and vote on the Scheme and approving the dispatch of an explanatory statement providing information about the Scheme and notice of the Scheme Meeting (Scheme Booklet).

The Scheme continues to be: unanimously recommended by the Saracen Board, subject to no superior proposal emerging for Saracen and the Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of Saracen shareholders and unanimously endorsed and supported by the Northern Star Board, subject to no superior proposal for Northern Star emerging.

Each Saracen Director intends to vote, or procure the voting of, all Saracen shares held or controlled by them in favour of the Scheme, subject to those same qualifications.

Scheme Booklet

The Scheme Booklet will be released on ASX following registration with the Australian Securities and Investments Commission (ASIC) and will also be available on Saracen's website www.saracen.com.au. The Scheme Booklet will include a copy of the Independent Expert's report prepared by Ernst & Young Strategy and Transactions Limited.

Saracen shareholders who have nominated an email address for the purposes of receiving communications from Saracen will receive an email containing a link to a website where they can download the Scheme Booklet. Shareholders who have not nominated an email address for the purposes of receiving communications from Saracen will receive a letter (sent by post) containing that same information, as well as details about how to access a paper copy of the Scheme Booklet. Saracen shareholders should read the Scheme Booklet in its entirety, including the material accompanying it, before deciding whether to vote in favour of the Scheme.

Scheme Meeting

The Scheme Meeting, at which Saracen shareholders will vote on the proposed merger, will be held virtually on Friday, 15 January 2021, commencing at 9:00am (AWST). The Scheme Meeting will be conducted via an online platform at https://web.lumiagm.com/349257825. All registered Saracen shareholders as at 7:00pm (AEDT) on Wednesday, 13 January 2021 will be eligible to vote at the Scheme Meeting.

Saracen and Northern Star will continue to update shareholders as to any material developments in relation to the Scheme. Authorised for release to the ASX by Bill Beament, Executive Chair (NST) and Raleigh Finlayson, Managing Director (SAR).

Contact:

Rebecca Ciotti

Tel: +61 8 6188 2100

Email: info@nsrltd.com

(C) 2020 Electronic News Publishing, source ENP Newswire