RE: Tonga24 May 2019 11:25
ASX: NWF
ABN: 98 153 219 848
15 McCabe St
North Fremantle WA 6159
T: +08 9389 8880
F: +08 9389 8890
www.newfieldresources.com.au
ASX Announcement
20 May 2019
Option Exercised for Newfield Gold Project Farm-out
Further to its ASX announcement dated 11 April 2019, Newfield Resources Limited (Newfield) is pleased to
advise that Syndicated Minerals Limited (Syndicated) (ASX:SMD) has progressed its interest in farming into
the Newfield Gold Project by:
? Making a further cash payment to Newfield of $25,000 upon satisfaction of all conditions precedent;
and
? issuing to Newfield 30 million Syndicated Shares and 10 million Syndicated Options to purchase the
right to earn up to 85% of the Newfield Gold Project.
Under the terms of the farm-out agreement, Syndicated may now earn an initial 70% of the Newfield Gold
Project by spending a minimum of $300,000 within the first 12 months, plus a further $600,000 within the
following year.
Syndicated has planned an exploration programme which it intends to commence next month.
Newfield continues to maintain an interest in the potential of the Newfield Gold Project through its holding of
Syndicated securities and the ultimate residual interest of 15% in the Project.
** ENDS **
For further details please contact:
Anthony Ho
Executive Director
Newfield Resources Limited