Landore Resources Limited Sale of 50% NSR on the Root Lake Lithium Property (3384C)

TIDMLND

RNS Number : 3384C

Landore Resources Limited

10 October 2022

LANDORE RESOURCES LIMITED

(AIM Ticker: LND.L)

SALE OF 50% ROYALTY ON THE ROOT LAKE LITHIUM PROPERTY

London, United Kingdom - 10 October 2022 - Landore Resources Limited (AIM: LND) ("Landore Resources" or "the Company") is pleased to announce that it has executed a binding agreement with ASX-listed Green Technology Metals Ltd ("GT1") for GT1 to buyback and extinguish 50% of the Company's 3% net smelter royalty interest over the Root Lake Project.

In consideration for the buyback, GT1 will make a payment of C$2 million in cash to the Company. The proposed transaction is conditional on Landore Resources and GT1 finalizing and executing an Extinguishment Agreement, which is expected to occur before 21 October 2022, and accordingly there can be no guarantee that the proposed transaction will be completed.

A further announcement will be made in due course, as appropriate.

- ENDS -

For more information, please contact:

 
 Landore Resources Limited 
 Bill Humphries, Chief Executive         Tel: [phone] 
  Officer 
 Glenn Featherby, Finance Director       Tel: [phone] 
 
 Cenkos Securities (Nominated Advisor 
  and Broker) 
 Derrick Lee / Peter Lynch               Tel: [phone] 
 
  Strand Hanson Limited (Financial 
  Adviser)                                Tel: [phone] 
  James Dance / James Spinney / Robert 
  Collins 
 

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October 10, 2022 05:56 ET (09:56 GMT)