On Norrliden: • NorrlidenVMS Project: o MRE report (refer ASX...

On Norrliden:

• NorrlidenVMS Project:

o MRE report (refer ASX announcement 13 July 2018) highlights a potential economic resource with a profit margin in excess of USD$100 million.
o MRG has reached the first 10% equity hurdle and has right to spend an additional USD$500thousandto reach 25% equity over the next 12 months and the right to 50% equity for an additional USD$2 million spend over a further 12 months.
o MRG and its JV Partner, Mandalay Resources Corporation (TSX: MND) have commenced an agreed process to pursue the potential sale of Norrliden given the economic value of the asset and the unexplored targets recently identified, which provide significant potential upside.
o MRG and Mandalay have agreed that if a successful sale was achieved then MRG’s current equity position and its right to earn a 50% equity position will be factored into the apportionment of the sale proceeds.
o Mandalay has agreed to a stand-still period under the JV while the sale process takes place.
o MRG will provide a further market update if a sale is to proceed. It should be noted, that commencement of this sales process does not guarantee that an acceptable sale offer will be received.