VANCOUVER, BC, May 27, 2022
/CNW/ - Macarthur Minerals Limited (TSXV: MMS) (ASX:
MIO) (OTCQB: MMSDF) (the Company or Macarthur),
pursuant to the Company's Share Compensation Plans ("Plans"), the
Board of Directors of the Company has granted an aggregate of
4,400,000 Bonus Shares to acquire common shares of the Company
pursuant to the Plans to Directors or their respective
nominees.
The Bonus Shares are being issued under the terms of the
Company's Share Compensation Plans which were approved by
shareholders at the Company's Annual General Meeting on
27 October 2021.
On behalf of the Board of Directors, Mr Cameron McCall, Executive Chairman
Company profile
Macarthur is an iron ore development, and lithium exploration
company that is focused on bringing to production its Western Australia iron ore projects. The Lake
Giles Iron Project mineral resources include the Ularring hematite
resource (approved for development) comprising Indicated resources
of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26
million tonnes at 45.4% Fe and the Lake Giles magnetite resource of
53.9 million tonnes (Measured), 218.7 million tonnes (Indicated)
and 997 million tonnes (Inferred). The Lake Giles Iron Project also
contains Proven Ore Reserves of 51.9 Mt and Probable Ore Reserves
of 184.7Mt. Macarthur also holds 24 square kilometre tenement area
iron exploration interests in the Pilbara region of Western Australia. In addition, Macarthur has
lithium brine Claims in the emerging Railroad Valley region in
Nevada, USA.
No new information
The Mineral Resource and Ore Reserve estimates presented above
have previously been released to the ASX on 21 March 2022, including supporting JORC
reporting tables. Unless explicitly stated, no new information is
contained in accordance with Table 1 checklist in the JORC Code.
The Company confirms that it is not aware of any new information or
data that materially affects the information included in the
relevant market announcements and, in the case of Mineral Resources
and Ore Reserves that all assumptions and technical parameters
underpinning the estimates in the relevant market announcement
continue to apply and have not materially changed.
This news release is not for distribution to united states
services or for dissemination in the
United States
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 expected
completion of the Feasibility Study; conversion of Mineral
Resources to Ore Reserves or the eventual mining of the Project,
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 iron or magnetite demand or
substitution by other metals or materials; the discovery of new
large low cost deposits of iron magnetite; the general level of
global economic activity; failure to complete the FS; 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.
SOURCE Macarthur Minerals Limited