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Update Regarding Proposed Sale of Granville Tin Mine

On 23 April 2020, the Directors of Aus Tin Mining Limited (Aus Tin Mining or the Company) announced that the Company had signed a Heads of Agreement with third-party company Ten Mining Pty Ltd (Ten Mining) for the effective disposal of the Granville Tin Mine (Granville) on the west coast of Tasmania.

The Heads of Agreement executed by the parties provided for Ten Mining to acquire all the shares in TenStar Mining Pty Ltd (100 percent subsidiary of Aus Tin Mining that owns Granville) by 31 May 2020 and as consideration pay Aus Tin Mining $365,000 and a further $635,000 for existing environmental bonding commitments.

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