Bawdwin now substantially de-risked with new local partner, East...

Bawdwin now substantially de-risked with new local partner, East Asia Power (Mining) Company Limited (EAP) investing in the project.

• EAP has significant mining and processing expertise as managers of Longh Keng zinc mine and Lashio zinc refinery in Myanmar.

• EAP has a strong affiliation with one of Myanmar’s largest industrial conglomerates. • WMM and EAP will hold 49% of Bawdwin and MYL will hold a majority 51% interest and operational control.

• EAP to reimburse a proportion of costs incurred to date by MYL on Bawdwin, including the cost of option fees and extension fee totalling US$3 million.

• EAP will contribute pro rata to all future costs including the Bawdwin option exercise fee of US$20 million – MYL’s contribution to option fee now reduced to US$13.9 million.

• Bawdwin’s development now underpinned by substantially invested local companies and MYL’s expertise and access to global capital markets