News: AKK Austin Exploration secures sale of Mississippi property

Feb 29 (Reuters) - Austin Exploration Ltd (AKK) :

• Austin secures sale of Mississippi property for aud$1.28m (AKK)
• Says buyer is a private company and the details of the potential buyer are

  confidential

• Deal will be fully funded through existing cash reserves
• Says company has also reduced its general and administrative costs by 75%
• Both companies have agreed to close the transaction and for settlement to

  occur within 45 days