Perth, May 20, 2015 AEST (ABN Newswire) - Blackham Resources Ltd (ASX:BLK) has signed a $38.5 million funding package, fully funding the company to bring its flagship Matilda Gold Mine into production and increase its resource base.

The deal has been signed with the Orion Fund JV Ltd, a subsidiary of global resource powerhouse Orion Mine Finance Funds, which will see them come on as a supportive cornerstone investor in Blackham.

Managing Director of Blackham Resources Mr Bryan Dixon said the deal was transformational for the company, with the Matilda gold project now de-risked and a clear pathway to production now defined and fully funded.

"We are extremely pleased to have agreed to this financing package and welcome Orion to the company's register," Mr Dixon said.

"The Orion funding gives Blackham a fully funded solution to bring the Matilda Gold Project into production and provides further validation of the robust nature of this project."

The first tranche of funds will come from a private placement to Orion Fund, in which Blackham will receive $2.5 million. Blackham will then receive a $6 million non-amortising term loan and a further $30 million upon the completion of the definitive feasibility study at the Matilda project.

Mr Peter Rozenauers will join the Blackham board as Orion FundA-s nominee director. Mr Rozenauers was previously with Red Kite Group as Senior Investment Manager and Head of Asian Commodities Distribution for Barclays Capital.

Orion Fund and Blackham have also entered in to an offtake agreement, which will see Blackham sell 50% of gold produced at Matilda until it has delivered 250,000oz of gold to Orion, for a price to be set in context of the market at the time of delivery.

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About Blackham Resources Ltd

Blackham Resources ASX:BLKBlackham Resources Limited (ASX:BLK), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. Matilda's resources of 48Mt @ 3.3g/t for 5.1Moz, all within a 20km radius of its gold plant currently being re-commissioned. The Matilda Gold Project incorporates over 780 square kilometres of tenements and cover around 55 kilometres of strike along the Wiluna and Coles Find Mine Sequences. The Project has historically produced 4.3 million ounces of gold.



Bryan Dixon
Managing Director
Blackham Resources
T: +61-8-9322-6418

Tony Dawe
Professional Public Relations
T: +61-8-9388-0944

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