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ReutersReuters

Arctic Minerals Acquires Peräpohja Copper Project In Finland

AARCT

Arctic Minerals AB (publ) AARCT:

  • ACQUIRES 100% OF PERÄPOHJA COPPER PROJECT IN FINLAND IN A ROYALTY DEAL WITH RIO TINTO, SUPERSEDING PREVIOUS JOINT VENTURE AGREEMENT

  • PROJECT CONSISTS OF 24 PERMIT AND PERMIT APPLICATIONS TOTALLING 112,000 HECTARES

  • PROJECT HAS TILL NOW BEEN OWNED JOINTLY BY ARCTIC MINERALS AND RIO TINTO IN A JOINT VENTURE

  • NO UP-FRONT CASH WILL BE PAID FOR PROJECT

  • RIO TINTO WILL BE ENTITLED TO A NET SMELTER RETURN OF 1% OF REVENUE FROM ANY EVENTUAL PRODUCTION FROM PROJECT

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