Sinomine acquire 65% stake in Kitumba copper mine

On March 14, African Minerals Limited, a wholly-owned subsidiary Sinomine Resource Group Co.Asian Metal CopyrightOn March 14, African Minerals Limited, a wholly-owned subsidiary Sinomine Resource Group Co.Asian Metal Copyright, Ltd.Asian Metal Copyright entered into share purchase agreements with Momentum Ventures Limited and Chifupu Resources Limited to acquire a 65% equity interest in Junction Mining Limited, including 50% held by Momentum Ventures and 15% held by Chifupu Resources, for a total of USD58.Asian Metal Copyright entered into share purchase agreements with Momentum Ventures Limited and Chifupu Resources Limited to acquire a 65% equity interest in Junction Mining Limited, including 50% held by Momentum Ventures and 15% held by Chifupu Resources, for a total of USD58.Asian Metal Copyright9 million tonnes at 2.Asian Metal Copyright50 million in cash.

Junction Mining's main asset is the Kitumba copper mine in Zambia. Upon completion of the share transfer, Sinomine will own a 65% stake in Junction Mining and a 65% interest in Kitumba copper mine.

Kitumba copper mine is currently undeveloped. Based on a JORC (2012) Mineral Resource Estimate, the mine has a total copper mineral resources of 27.Asian Metal Copyright9 million tonnes at 2.Asian Metal Copyright9 million tonnes at 2.Asian Metal Copyright Based on a JORC 2012 Mineral Resource Estimate, the mine has a total copper mineral resources of 27.Asian Metal Copyright20% Cu, containing 614,000 tonnes of copper.

.Asian Metal CopyrightOn March 14, African Minerals Limited, a wholly-owned subsidiary Sinomine Resource Group CoAsian Metal Copyright