NORTHWEST RESOURCES LIMITED RELEASE
29 July 2014
Sale of Camel Creek Gold Project
Northwest Resources Limited (ASX: NWR, "Northwest" or the "Company") announces that the Company has entered into an agreement with RSI (WA Gold) Pty Limited (RSIWA) to sell its Camel Creek Gold Project, consisting of a 50% interest in the Camel Creek Joint Venture with Millennium Minerals Limited (Millennium) and the associated tenements.
The sale is conditional on the consent of Millennium to the transfer of the Joint Venture interest and the consent of the WA Minister for Mines to the transfer of certain mining leases.
In September 2013, the company entered into a $1.93 million royalty financing facility with RSIWA. The royalty financing was structured as a loan with repayments linked to a gross royalty over Northwest's entitlement to future production from its Camel Creek Gold Project.
Consideration for the sale is $175,000 in cash and the release of the RSIWA loan and security held over the Company's Blue Spec Shear Gold-Antimony Project. Subject to obtaining the necessary consents, completion of the sale is expected to occur in early August 2014.
John Merity Managing Director T: 02 9267 7661
Northwest Resources Limited | ACN: 107 337 379 | ASX code: NWR | www.nw-resources.com.au
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