Niuminco Group Limited announced that it has entered into an agreement with Australian Finegrain Marble Pty Ltd. to purchase a 90% direct interest in three (3) mining leases (ML 20513, ML 20515 and ML 20516 granted under the Queensland Mining Act 1989) at Chillagoe in Far North Queensland. Final completion is subject to registration of the transfers with the relevant Queensland Government department. The leases, which are located in the Calcifer Mineral Field approximately 25 kilometres southeast of the substantial Red Dome and Mungana gold/base metal deposits, cover a cumulative total area of just over one square kilometre. They are prospective for gold and copper, are in good standing with expiry dates of 31 July 2031 and contain, and are adjacent to, several small, historical copper workings called Sonya Hills and Hobson's. Although the leases have received minimal exploration attention in the past, they have the essential geological and geochemical parameters of those other "porphyry - breccia - skarn" deposits in the district. In consideration for the purchase, NIU has agreed to make a payment of $60,000 on the first anniversary of execution of the agreement, and manage an exploration program with minimum committed expenditure of $50,000 in the first year (ending 30 June 2021), $100,000 annually over the next five (5) years, and $200,000 annually thereafter for a further five (5) years. Expenditure is cumulative and spending above the minimum in any one year is credited towards spending in future years. NIU proposes to fund the acquisition from future operating income and/or borrowings and/or capital raisings.