Microsoft Word - 20151130 SPP equity issues.docx




30 November 2015 ASX Code: WCN

Equity Issues


White Cliff Minerals Limited (ASX: WCN) ('the Company') advises that having received shareholder approval at today's AGM it has now issued 16,000,000 2015 Performance Rights to directors on the terms and conditions as set out in the AGM Explanatory Notice.


Shareholder approval was also received for the issue of 30,000,000 Broker Options to broker nominees as part consideration for broker services provided in relation to the Company's recent share placement and Share Purchase Plan (SPP). A prospectus for the issue of these Broker Options and for options attaching to shares issued under the recent placement and SPP is expected to be lodged with ASIC/ASX tomorrow.


In addition, the Company has today issued 7,500,000 ordinary shares to directors following the exercise of 2014 Performance rights for which the performance hurdles have been achieved.


An Appendix 3B and three Appendix 3Y's in relation to the above follow.


For further information please contact:

www.wcminerals.com.au


Todd Hibberd Managing Director

+61 8 9321 2233


White Cliff Minerals Limited ABN 22 126 299 125 Suite 2, Level 1, 47 Havelock Street, West Perth WA 6005.

PO Box 368 West Perth WA 6872. Telephone +61 8 9321 2233 Facsimile +61 8 9324 2977 www.wcminerals.com.au

About White Cliff Minerals Limited White Cliff Minerals Limited is a Western Australian based exploration company with the following main projects:


Aucu Gold Project (88.9%): The Project contains extensive porphyry related gold and copper mineralisation starting at the surface and extending over several kilometres. Drilling during 2014 has defined a major gold discovery with an initial inferred resource of 1.15Mt at 4.2 g/t containing 156,000 ounces of gold Drilling has also defined a significant copper deposit at surface consisting of 10Mt at 0.41% copper containing 40,000 tonnes of copper. Extensive mineralisation occurs around both deposits demonstrating significant expansion potential. The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 83 square kilometres. The Aucu gold project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extending for over 2500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan to western China.


Merolia Project (100%): The project consists of 771 square kilometres of the Merolia Greenstone belt and contains extensive ultramafic sequences including the Diorite Hill layered ultramafic complex, the Rotorua ultramafic complex, the Coglia ultramafic complex and a 51 kilometre long zone of extrusive ultramafic lava's. The Intrusive complexes are prospective for nickel-copper sulphide accumulations possibly with platinum group elements, and the extrusive ultramafic rocks are prospective for nickel sulphide and nickel-cobalt accumulations. The project also contains extensive basalt sequences that are prospective for gold mineralisation including the Ironstone prospect where historical drilling has identified 24m at 8.6g/t gold.


Lake Johnston Project (100%): The project covers over 127 square kilometres in the Lake Johnson Greenstone Belt, which contains the Emily Ann and Maggie Hayes nickel sulphide deposits. These mines have a total resource of approximately 140,000 tonnes of contained nickel. The project area has excellent prospectivity for both komatiite associated nickel sulphides and amphibolite facies high-grade gold mineralisation.


Laverton Gold Project (100%): The project consists of 136 square kilometres of tenement applications in the Laverton Greenstone belt. The core prospects are Kelly Well and Eight Mile Well located 20km southwest of Laverton in the core of the structurally complex Laverton Tectonic zone immediately north of the Granny Smith Gold Mine (3 MOz) and 7 kilometres north of the Wallaby Gold Mine (7 MOz).


Mount Remarkable Project (100%): The project covers 185 square kilometres and is located approximately 170 km N-NE of Kalgoorlie and about 25 km SE of Kookynie in the Northern Goldfields. Included in the project area are the historic gold mining centres of Mt Remarkable and Yerilla which consists of several old workings. Major gold mines in the surrounding area include Sons of Gwalia, Tarmoola, Carosue Dam, Granny Smith, Wallaby and Sunrise Dam. The project includes several areas adjacent to and along strike from existing nickel deposits at Aublis, Yerilla and Boyce Creek. These deposits form Heron Resources' Yerilla Nickel Project which contains 135 Mt @ 0.77% Nickel and 0.05% Cobalt.


White Cliff Minerals Limited 2

Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5


New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12


Name of entity


White Cliff Minerals Limited


ABN


22 126 299 125


We (the entity) give ASX the following information.


Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).


  1. Ordinary shares

  2. 1 December 2018 options

  3. 2015 Performance rights

1 +Class of +securities issued or to be issued


a) 7,500,000

b) 30,000,000

c) 16,000,000

2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

  1. Ordinary shares

  2. Exercisable at $0.012 on or before 1 December 2018

  3. The date (Tranche 1 Vesting Date; 8,000,000 rights), which must be before 31 December 2017, on which:

  • the Company (or a subsidiary) declares a mineral resource of at least 500,000 ounces gold (or metal equivalent) for a project, or

  • the Company (or a subsidiary) sells/joint ventures a project for an attributable value of at least $10 million; or

  • an investor (including any current Shareholder) acquires at least 15% of the issued share capital of the Company. For the purpose of this Vesting Condition any Shares held as at the date of this Notice shall not count toward the calculation of the 15% Acquisition;

  • an investor accumulates at least a 25% interest in the Chanach Gold-copper project (25% Acquisition) upon a total project valuation of at least $15 million.

    The date (Tranche 2 Vesting Date; 8,000,000 rights), which must be before 31 December 2018, on which:

  • the Company (or a subsidiary) declares a mineral resource of at least 1,000,000 ounces gold (or metal equivalent) for a project, or

  • the Company (or a subsidiary) sells/joint ventures a project for an attributable value of at least $20 million; or

  • an investor accumulates at least a 50% interest in the Chanach Gold-copper project (50% Acquisition) upon a total project valuation of at least $30 million; or

  • the market capitalisation of the Company is equal to or greater than

$30 million for a period of at least 10 consecutive trading days.

3 Principal terms of the

+securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due


dates for

payment;

if

+convertible

securities,

the

conversion price and dates for conversion)


+ See chapter 19 for defined terms.


Appendix 3B Page 2 01/08/2012

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