PRESS RELEASE
22 SEPTEMBER 2016
SETTLEMENT WITH TANAMI GOLD
Metals X Limited (Metals X) refers to the legal proceedings that have surrounded the contested acquisition of the Central Tanami Project from Tanami Gold NL (Tanami) since April 2015. Metals X advises that it has accepted a settlement offer from Tanami of $3M in full and final settlement of the matter.
Metals X and Tanami have agreed to end legal proceedings. Metals X CEO, Peter Cook said:
"We are happy we are receiving a settlement for the contested acquisition of the Central Tanami Project. Whilst disappointed and wiser for the experience, it is appropriate for us to move on and focus on our future gold demerger and the growth of our other gold projects."
ASX Code: MLX
OTCQX Code: MLXEF
Level 3, 18-32 Parliament Place West Perth WA 6005
Australia
[email protected] www.metalsx.com.au