Infinity Mining Limited (ASX: IMI) ('Infinity' or the 'Company') is pleased to announce that it has entered into binding term sheets to acquire a portfolio of gold and copper exploration projects in New South Wales, Victoria and Tasmania, via two separate transactions.
the acquisition of 100% of issued capital of GMH Resources (NSW) Pty Ltd ('GMH'), who is the holder of a portfolio of exploration licences and applications prospective for gold and copper in the Lachlan Fold Region of NSW ('GMH Projects') and the acquisition of various exploration licences and applications prospective for gold in Eastern Victoria and Southern Tasmania ('EVGE Projects') from Eastern Victoria Gold Exploration Pty Ltd ('EVGE').
While Infinity considers its existing project portfolio in Western Australia as diversified and compelling, Infinity views the new Eastern Australian gold and copper exploration project portfolio to be acquired, as an attractive and complimentary addition to its existing lithium, gold, copper and base metal assets. The new projects would also significantly increase Infinity's project footprint and extend
Utilising the recently recognised application of the Intrusion-Related Gold System (IRGS) exploration model in Victoria, these projects show good potential for significant discoveries by focusing on fertile, reduced intrusive complexes. Beyond gold, the portfolio encompasses projects with diverse mineralisation, including copper, tungsten, molybdenum, tin, copper, and other base metals. Notable Monkey Gully and Bogong Copper Project, offering multiple avenues for potential valuable resource discoveries. Key projects such as Harden are strategically located near established mining operations, providing potential synergies in processing and infrastructure utilisation, which can significantly enhance project economics and development timelines. Additionally, the projects benefit from extensive historical exploration data and workings. This strong foundation of existing knowledge and planned activities positions the projects for accelerated exploration and potential resource definition.
DDENDUM TO NOTICE OF AGM
Infinity has given notice of its annual general meeting of shareholders to be held at Suite 1G, Level 1, Kings Row Office Park, 40-52 McDougall Street, Milton QLD 4064 on Friday, 30 August 2024 at 10am (AEST) ('Meeting') pursuant to its notice of annual general meeting dated 2 August 2024 ('Notice of Meeting'). The Directors wish include new resolutions at the Meeting to approve the issue of consideration securities under the acquisitions detailed in this announcement. Accordingly, pursuant to an addendum to the Notice of Meeting ('Addendum') dated 14 th August 2024, the Directors have determined to include new Resolutions 9 and 10 to the Meeting to approve the issue of shares to the vendors of GMH (being the holder of the GMH Projects) and to EVGE. Shareholders should refer to the Addendum (including the Explanatory Statement) for important information on the new proposed resolutions and instructions about replacement proxy forms. The Addendum is important and should be read in its entirety in conjunction with the Notice of Meeting and their accompanying Explanatory Statements. Except as set out in the Addendum, all other resolutions proposed and information in the Notice of Meeting (including the Explanatory Statement) remain unchanged. The Company confirms there is no change to the time, date or location of the Meeting
Contact:
Joe Phillips
Executive Chairman
Tel: +61 7 3221 1796
Email: communications@infinitymining.com.au
Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, 'forward-looking statements') within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding exploration results and Mineral Resource estimates or the eventual mining of any of the projects, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in copper, nickel or gold demand or substitution by other metals or materials; the discovery of new large low cost deposits of copper, nickel or gold; the general level of global economic activity; failure to proceed with exploration programmes or determination of Mineral resources; inability to demonstrate economic viability of Mineral Resources and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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