Zinc of Ireland NL (ASX:ZMI) entered into a term sheet to acquire exploration licence application 38/3624 from Nile Exploration Pty Ltd, TJA Asset Pty Ltd and other on June 30, 2021. Zinc of Ireland will issue 5 million fully paid ordinary shares. In addition, subject to receiving Shareholder approval, the Company has agreed to issue to the Sellers, 5 Million options with an exercise price of AUD 0.10 each and expiry date of 3 years from the date of issue, 11 million Performance Rights and 5 Million Performance Options with an exercise price of AUD 0.10 each and expiry date of 3 years from the date of issue, which are proposed to vest upon satisfaction of relevant milestones. 5 million Performance Rights will issue upon announcement by ZMI that the Tenement has been granted by the Department and 5 Million Performance Rights will issue by ZMI of achieving 2 drill intercepts on the Tenement of greater than 40m apart and each more than 10m thick @ 5% (Zn+Pb). 5 Million Performance Options will issue by ZMI that the Tenement has been granted by the Department. Acquisition will complete by the end of this week.

Zinc of Ireland NL (ASX:ZMI) completed the acquisition of exploration licence application 38/3624 from Nile Exploration Pty Ltd, TJA Asset Pty Ltd and other on November 11, 2021.