Musgrave Minerals Ltd (ASX:MGV) (FRA:6MU) (OTCMKTS:MGVMF) is pleased to announce that via its wholly owned subsidiary Musgrave Exploration Pty Ltd it has entered into a Sale and Purchase Agreement ("Agreement") with proprietary company Eastern Goldfields Exploration Pty Ltd ("Vendor") to acquire a 100% interest in a number of tenements that comprise the Mt Magnet South Project ("Mt Magnet South" or "the Project"). The Project is located within trucking distance of the Company's Cue Gold Project (Figure 1*) in Western Australia's Murchison goldfields and just 5km south of the township of Mt Magnet.

- Musgrave to acquire a 100% interest in the Mt Magnet South Project located 40km south of the Company's flagship Cue Gold Project in the Murchison district of Western Australia

- The Project covers the southern extension of the Hill 50 and Latecomer fault zones that are associated with the Hill 50, Galaxy and Morning Star gold deposits at Mt Magnet

- Acquisition complements the Cue Gold Project and consolidates Musgrave's position in the region

- Musgrave aims to utilise its regional base and exploration strengths to deliver further success through exploration and discovery

- Drill planning to begin after consolidation of historical exploration data and completion of a regional gravity survey

Commenting on the transaction, Musgrave Managing Director Rob Waugh said, "This opportunity grows Musgrave's landholding by adding further prospective ground in the region. The new Project area is directly along strike from Ramelius' Mt Magnet operations and provides the opportunity for Musgrave to continue to utilise its exploration expertise to make further discoveries in the region. The acquisition maintains our alignment with the strategy to grow the resource base at Cue in the nearterm while generating a pipeline of longer-term projects and opportunities."

*To view tables and figures, please visit:

About Musgrave Minerals Ltd

Musgrave Minerals Ltd (ASX:MGV) is an active Australian gold and base metals explorer. The Cue Project in the Murchison region of Western Australia is an advanced gold and copper project. Musgrave has had significant exploration success at Cue with the ongoing focus on increasing the gold and copper resources through discovery and extensional drilling to underpin studies that will demonstrate a viable path to development in the near term. Musgrave also holds a large exploration tenement package in the Ni-Cu-Co prospective Musgrave Province in South Australia.



Rob Waugh
Managing Director
Musgrave Minerals Limited
+61 8 9324 1061

Luke Forrestal
Associate Director
Media and Capital Partners
+61 411 479 144

Link: Musgrave consolidates its position in the Murchison

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