Andromeda Metals has executed a binding Heads of Agreement with Minotaur Exploration to form the Rover Copper-Gold Farm-in and Joint Venture over the Company's 100% owned Rover Project tenements in the Tennant Creek district of the Northern Territory

$5 million Joint Venture to reinvigorate Rover Project

Andromeda Metals has executed a binding Heads of Agreement with Minotaur Exploration Limited (ASX: MEP) to form the Rover Joint Venture over the Company's 100% owned Rover Copper-Gold Project tenements in the Tennant Creek district of the Northern Territory.

Under the terms of the Agreement, MEP will sole fund up to $5 million through a staged earn-in over a maximum six year period to earn up to 75% equity.

Minotaur Exploration Limited is a successful and highly regarded mineral exploration group. Its exploration team discovered the world-class Prominent Hill copper-gold deposit in 2001, and it specialises in the search for iron-oxide hosted copper gold deposits such as those which occur at Rover.

The deal will result in the implementation of a reinvigorated exploration effort on the highly prospective Rover land holding.

Minotaur's first on-ground exploration at Rover will commence next week with a trial electromagnetic survey to be undertaken to determine if the technique has application in the Rover Field.

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$5 million Joint Venture to reinvigorate Rover Project
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Overview

Andromeda Metals Limited is an Australian Securities Exchange listed company (code: ADN) focusing on mineral exploration for gold, lithium and copper deposits. Andromeda Metals currently has interests in 21 exploration licenses, covering 7,969 sq kms within South Australia, Queensland, Western Australia and the Northern Territory. Andromeda Metals’ vision is to be a sustainable minerals exploration company providing shareholders with risk managed discovery, development and mining opportunities.

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