ASTRON LIMITED — M&A Activity 2010

Mar 29, 2010

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ASX announcement

30 March 2010

ASTRON ACQUIRES WIM 150 PROJECT AND ENTERS INTO A TECHNOLOGY LICENCE AGREEMENT WITH AUSTPAC

The board of Astron is pleased to announce that, subject to Ministerial approval, Astron Limited (Astron) has acquired exploration licence 4521, which includes the area of the WIM 150 Mineral Sands Project, from Austpac Resources NL (Austpac). The acquisition will be undertaken through a wholly owned subsidiary of Astron Limited.

Astron and Austpac have also entered into a technology licence agreement in terms of which Astron will have a licence to use the intellectual property in relation to Austpac’s continuous leach reactor (CLR) and low temperature roasting (LTR) processes. Astron proposes to use this technology for the production of synrutile products from the Donald Mineral Sands project feedstock.