XTRACT RESOURCES PLC — M&A Activity 2014

Oct 2, 2014

National Storage Mechanism | Additional information

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RNS Number : 2311T

Xtract Resources plc

02 October 2014

2 October 2014

Xtract Resources Plc

("Xtract" or "the Company")

Sale of 100% of Mejillones Phosphate Deposit

Xtract Resources Plc (AIM: XTR) announces that it has signed an agreement to sell 100% of the Mejillones phosphate deposit to Mines Global ('MG') for a total consideration of £400,000. The consideration is payable in two tranches, £250,000 within 14 days of signature date and the balance of £150,000 upon successful transfer of all the licences representing the project to a local subsidiary of MG in Chile.

Jan Nelson, CEO of Xtract Resources,  commented; "The sale of the Mejillones project is in line with our stated strategy of focusing all our management time and resources on continuing to build the Chepica Gold-Copper mine into a profitable mining operation. The additional funds strengthen our financial position at a time of increased activity as we work towards achieving peak production at Chepica."

ENDS

Enquiries:

Xtract Resources Plc	Jan Nelson, CEO	+44 (0)20 3416 6471
Cenkos Securities Plc	Alan Stewart Derrick Lee	+44 (0)131 220 6939
Hume Capital Securities plc	Jon Beliss Abigail Wayne	+44 (0)20 3693 1470
St James's Corporate Services Limited	Phil Dexter	+44 (0)20 7796 8647 +44 (0)7798 634398
Gable Communications Limited	John Bick Xtract@gablecommunications.com	+44 (0)20 7193 7463 +44 (0) 7872 061007

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