The Lamil Project is located between the major mining operations of the Nifty Cu mine and the large Telfer Au-Cu mine within the Paterson Province, East Pilbara, Western Australia, a Tier 1 region that is attracting significant interest due to recent discoveries by Rio Tinto Limited (Winu Cu-Au discovery) and Greatland Gold plc (Havieron Au-Cu discovery).
In accordance with the EJVA, AIC has subscribed for 4,166,667 new shares in Rumble at a price of 6 cents per share for total proceeds of $250,000. These funds have been received by Rumble and the shares have today been allotted to AIC. Furthermore, AIC has issued to Rumble 714,286 new shares in AIC.
Rumble looks forward to working collaboratively with AIC as exploration at the Lamil Project is advanced.
About Rumble Resources Ltd
Rumble Resources Limited (ASX:RTR) (FRA:20Z) is an Australian based exploration company, officially admitted to the ASX on the 1st July 2011. Rumble was established with the aim of adding significant value to its current gold and base metal assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.