PYRAMID AND SOUTH EAST QLD PROJECTS, QUEENSLAND
Avira Resources Limited (ASX: AVW) (Avira or the Company), and its controlled entity, announced the execution of the Sale and Purchase Agreement (S&PA) with Minotaur Exploration Limited (ASX: MEP) (Minotaur or MEP) to divest 100% of Pyramid Project tenements EPM 12887, EPM 19554, EPM 25154 located north east of Charters. The Pyramid Project is located approximately 180kms south from Townsville in Northern Queensland.
During the quarter ended September 2020 the Company successfully negotiated Term Sheets with Minotaur Exploration and EMX Royalty Corp for the sale of the Pyramid Project and the SE QLD projects respectively.
On 20 August 2020, the Company signed a binding Term Sheet with Minotaur Exploration Limited (ASX: MEP) for the sale of 100% of its Pyramid Project comprising three tenements (EPM 12887, 19554 and 25154).
On 1 September 2020 the Company signed a Term Sheet with EMX Royalty Corp (TSX: EMX) for the sale of 100% of its remaining Queensland exploration projects comprising two tenements; Yarrol (EPM 8402) and Mt Steadman (EPM12834).