MGV: Receipt of unsolicited intention to make a takeover offer

MUSGRAVE MINERALS LIMITED

• Westgold Resources Limited announces unsolicited and conditional off-market takeover offer for Musgrave Minerals Ltd.
• Offer consideration is one Westgold share for every 5.37 Musgrave shares held, implying $0.30 per Musgrave share.
• Musgrave shareholders advised to take no action until Board of Directors provides a formal recommendation in the Target's Statement.

2023-06-06 10:42:00

MGV: High-grade drilling results at Leviticus, Cue Gold Project

MUSGRAVE MINERALS LIMITED

• High-grade drilling results at Leviticus, Cue Gold Project reported by Musgrave Minerals Ltd.
• New assay results from RC drilling highlight the high-grade nature of the Leviticus mineralisation.
• Leviticus deposit is 1.5km south of White Heat and considered an early mining option for reduced capital costs.

2023-05-23 08:15:00

MGV: Stage 1 PFS demonstrates potential value of Cue Gold Project

MUSGRAVE MINERALS LIMITED

• Stage 1 Prefeasibility Study on Cue Gold Project confirms a financially attractive standalone project with an initial 5-year low-cost, high margin gold production.
• LOM pre-tax free cash flow of $314M over Stage 1 5-year term, increasing to $427M at current gold spot prices; payback period of 9 months from production start.
• Musgrave Minerals will advance to Stage 2 PFS, aiming to extend mine life through infill drilling, exploration, and an updated Mineral Resource Estimate in late 2023.

2023-04-17 08:33:00

MGV: New high-grade lode identified along Break of Day corridor

MUSGRAVE MINERALS LIMITED

• RC drill results at Break of Day identified a potential new high grade lode ~50m north of the current mineral resource boundary, with 4m @ 8.2g/t Au from 50m.
• Results from White Heat - Mosaic showed 4m @ 5.2g/t Au from 29m and for White Light Lode 2m @ 34.7g/t Au from 84m and 2m @ 14.7g/t Au from 100m.
• At Waratah, RC drilling returned 3m @ 8.4g/t Au from 43m, 1m @ 10.2g/t Au from 56m and 2m @ 4.0g/t Au from 22m.

2023-02-23 08:33:00

MGV: Amarillo and Big Sky drilling results, Cue Gold Project

MUSGRAVE MINERALS LIMITED

• RC drilling at Amarillo, Big Sky and Numbers East areas have returned new gold intercepts from shallow depths.
• Assay results from RC drilling at Waratah and Break of Day North are expected in two weeks.
• RC drilling has recommenced at Cue this week with activities associated with the Stage 1 PFS advancing.

2023-02-14 08:40:00

MGV: Further gold intersections, West Island Cue JV

MUSGRAVE MINERALS LIMITED

• Diamond drilling at the West Island prospect on the Musgrave - Evolution Cue Joint Venture continues to intersect high-grade gold.
• Significant new results include 5.5m (3.8m ETW ) @ 4.16g/t Au from 349.5m and 11.5m (8.0m ETW) @ 8.71g/t Au from 235.5m.
• Evolution is operator of the JV and is managing the ongoing exploration programs.

2023-01-24 08:37:00

MGV: Evolution satisfies earn-in milestone

MUSGRAVE MINERALS LIMITED

1. Evolution Mining Limited has satisfied the earn-in requirement under the Cue Project Earn-in and Exploration Joint Venture Agreement to earn a 75% joint venture interest.
2. An unincorporated joint venture is now formed with Evolution holding 75% and Musgrave holding 25%.
3. Evolution will continue as operator of the joint venture and manager of the ongoing exploration.

2023-01-12 09:29:00