Proposed Option Offer
Proposed Option Offer
Perth, Dec 22, 2016 AEST (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) (Venus) is pleased to advise that the Board has resolved, subject to receipt of shareholder approval, to offer up to 31,449,491 listed options exercisable at $0.20 each on or before 30 November 2019 at an issue price of $0.005 per option (New Options) on the basis of 1 New Option for every 1 listed Option which expired on 30 November 2016 (Expired Options) to raise up to approximately $157,247 before expenses (Offer).

The Offer will be made pursuant to a prospectus. Only persons who held Expired Options on 30 November 2016 (Expired Optionholders) may apply for New Options.

The funds raised from the Offer will primarily be used for:

- general working capital; and

- the expenses of the Offer.

The funds raised from the exercise of New Options will primarily be used for general working capital.

Further information regarding the Offer will be contained in the prospectus.

A general meeting to seek VMC shareholder approval for the issue of the New Options is expected to be held on or about 1 February 2017.

Assuming receipt of shareholder approval, the prospectus and a personalised entitlement and acceptance form is expected to be dispatched to Expired Optionholders on or about 2 February 2017.

The information required by Listing Rule 3.10.3 is set out in Annexure A.

To view Annexure A, please visit:

About Venus Metals Corporation Limited

Venus Metals ASX:VMC

Venus Metals Corporation Limited (ASX:VMC) holds a significant and wide ranging portfolio of Australian base and precious metals exploration projects comprising lithium, cobalt, vanadium, copper, zinc, nickel, gold and platinum group of elements.

Key project areas in Western Australia include:

- Pincher Well Zinc-Copper Project (Youanmi): Over 5 km of under explored VMS trend with an Exploration Target of 15-20 Million Tonnes@ 2-8% Zinc,which also hosts a number of high grade lodes (>10% Zinc).

- Currans Well Cobalt-Nickel-Copper Project (Youanmi): Significant Cobalt mineralisation up to 1483 ppm Co in historical drilling. Extensive Lateritic Duricrust Co-Ni target areas identified.

- Curara Well Nickel-Copper-Gold Project (Doolgunna):10 km northeast of Sandfire Resources DeGrussa Copper Mine. Wide intercepts of disseminated Nickel Sulphides (Millerites) in Ultramafics.

- Southern Cross Vanadium Project (Youanmi): JORC 2012 Inferred Vanadium Mineral Resource of 167.7 Millions Tonnes @ 0.41% V2O5, 7.52% TiO2.

- Strategic Lithium-Tantalum Projects in WA.



Matthew Hogan
Managing Director
T: +61-8-9321-7541

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