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Toro Energy, Northern Minerals - Completion of Sale of Non-rare Earth Assets

Australian heavy rare earths developer, Northern Minerals Limited (ASX:NTU) is pleased to announce that it has completed the Tenement Sale Agreement with Northern Star Resources Limited (ASX:NST; Northern Star) to sell a package of exploration licences in the Tanami region of the Northern Territory for $1.25 million in cash (refer ASX announcement 30 August 2016).

In addition, Northern Minerals will acquire the rights to rare earth elements in four exploration licences that Northern Star has agreed to acquire from Toro Energy Limited (ASX:TOE; Toro Energy), namely EL26270, EL26286, EL26635 and EL27590. This follows mutually agreed restructure of the transaction originally announced by Northern Minerals on 14 March 2016.


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