Alicanto Minerals Ltd. entered into a binding agreement to acquire the historic Falun Mine and associated tenements from the current owners, Explora Mineral AB (Explora). Total consideration for the acquisition is AUD 200,000. The agreement is subject to two conditions precedent: Alicanto being satisfied (in its sole and absolute discretion) with the outcome of its due diligence investigations in respect of the assets; and approval of the transfer of the tenements to Alicanto by the Mining Inspector pursuant to the Minerals Act of Sweden.

Alicanto has advised Explora that the first condition has now been satisfied and to commence the approvals process for the transfer of the tenements to Alicanto.