Inflection Resources to acquire Australian copper-gold projects from Newmont

Inflection Resources is pleased to announce it has entered into definitive agreement dated June 13, to acquire an 100% interest in a portfolio of Australian copper-gold exploration projects in New South Wales and the Northern Territory from subsidiaries of Newmont (NEM) Corporation. Inflection shall acquire an 100% interest in a large portfolio of projects from Newmont which the company considers highly prospective for copper-gold in the Northern Territory and New South Wales. The Tennant East project located in Australia’s Northern Territory comprises twelve exploration licenses covering a number of Iron Oxide Copper Gold targets which have received minimal exploration work to-date. The Bell River project is located in the Macquarie Arc in central New South Wales. The Company considers the project to be highly prospective for copper-gold porphyries, with the presence of outcropping lithocaps interpreted to represent the upper parts of preserved porphyry systems. The transactions are expected to close in several weeks upon transfer of the exploration licenses to the company’s wholly owned Australian subsidiary and the share issuance to Newmont.