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MINOTAUR

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MEP

AU000000MEP8

Minotaur Exploration : MEP terminates gypsum sale agreement

May 07, 2015 at 06:52 am EDT

MINOTAUR EXPLORATION LIMITED ACN 108 483 601 ASX: MEP

MINOTAUR

EXPLORATION

Release

7 May 2015

www.minotaurexploration.com.au

MEP TERMINATES GYPSUM SALE AGREEMENT

Minotaur Exploration (ASX: MEP) advises that it has terminated a sale agreement for the Lake Purdilla gypsum project near Streaky Bay, South Australia. As announced on 20 October 2014, completion was subject to a condition precedent: the Buyer completing a logistics and trans-shipment study in relation to the future shipping of minerals from the project, with the results thereof being to the satisfaction of the Buyer.
Minotaur was recently provided with a copy of the logistics study, which considers a range of potential transport and trans-shipment solutions. The Buyer did not, however, advise of its decision on the study by the due date and Minotaur terminated the agreement. Minotaur is now free to initiate discussions with other parties.
The logistics study clearly advances the investment and development case for each of Lake Purdilla and the
nearby globally-significant Poochera kaolin and halloysite assets. Shipping synergies are readily apparent between Minotaur's multiple local projects and regional grain producers. The port solutions articulated in the logistics study add substantial impetus to the business case for each of the Company's industrial minerals projects.

Andrew Woskett

(Managing Director)

Tony Belperio

(Director, Business Development)

Minotaur Exploration Ltd

T +61 8 8132 3400 www.minotaurexploration.com.au

LEVEL 1, 8 BEULAH ROAD, NORWOOD, SOUTH AUSTRALIA 5067 T +61 8 8132 3400 F +61 8 8132 3499 E admin@minaturexploration.com.au www.minotaurexploration.com.au

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Company Profile

Minotaur Exploration Limited (Minotaur) is an Australia-based company that engaged in securing new tenements with potential for the mineralization and evaluating results achieved through surface sampling, drilling, and geophysical surveys. Minotaur's projects include Pyramid Gold, Breena Plains Joint Venture (JV), Eloise project, Jericho project, and Great White project. The Pyramid Gold project is located 180 kilometers south of Townsville and covering 150 kilometers square embraces two main areas prospective for gold, being the West Pyramid Range and East Pyramid Range. The Breena Plains JV provides regional scope for Minotaur to locate prospects proximal to Jericho, for assessment. The Eloise project is a joint operation between OZ Minerals Ltd owning 70% and the Minotaur owning 30%. The Jericho project is a joint operation between OZ Minerals Ltd and the Minotaur. The Great White project is a joint operation between Andromeda Metals Ltd owning 51% and the Minotaur owning 49%.

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