New Age Exploration Limited (“NAE” or “the Company”) is pleased to announce that it has entered into a binding agreement to acquire 100% of the rights to the JBI-11091 exploration and mining concession application within the Subachoque Syncline, which is host to high quality hard coking coal deposits in Cundinamarca, Colombia. The Subachoque Syncline is located approximately 40km north-east of Bogota.
This acquisition, completed through the NAE-Aurora Partnership, represents NAE's first coking coal project in Colombia, adding to its portfolio of recently acquired thermal coal projects in the Cesar Basin.
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