Ann: BCL To Exercise Pre-Emptive Right Over PL59 (100% Owned)-BML.AX, page-3

BCL to exercise pre-emptive right over BML 100% owned PL 59/2008
The Board of Botswana Metals Limited (“BML”)
is pleased to advise that BCL Limited intends to exercise its pre-emptive right under the farm-in joint venture agreement over the 100% owned PL 59/2008 (PL 59).
PL 59 is to the east of the Maibele North JORC-compliant (2012) inferred resource and within the 16 km mineralised horizon along strike and, as previously announced, has potential to host additional sulphide mineralisation for Nickel + Copper + Cobalt and PGE’s.
On 27 June 2016 BML announced that BCL will proceed with the Bankable Feasibility Study for Maibele North’s JORC compliant resource which will focus initially on an open pit mining model at Maibele North.
BML has lodged an application with the Department of Mines in Botswana for an extension of PL 59 and the market will be kept informed as the JV agreement is formalised to incorporate PL 59 into the JV once notice of the extension is received (expected in early 2017)