NT Minerals' Exclusive Option Agreement with Golden Horse Minerals

NT Minerals Limited (ASX:NTM) has announced the signing of an Exclusive Option Agreement with Golden Horse Minerals (TSXV:GHML) over its Redbank/Wollogorang Copper Project in the Northern Territory. Under the agreement, Golden Horse Minerals has the option to acquire a 10% interest in the Tenements by spending $600,000, with the potential to increase its ownership to 90% by expending a further $4.5m and funding a pre-feasibility study, subject to entering into a joint venture agreement.

NTM Managing Director's Perspective

The Option Agreement with GHM is a significant milestone for NTM and the development of its Redbank/Wollogorang Copper Project. The Option Agreement substantially reduces tenement holding costs for the Company, freeing up financial resources to progress the Company's other projects.

Summary of Exclusive Option Agreement

NT Minerals Limited (ASX:NTM) has entered into an Exclusive Option Agreement with Golden Horse Minerals (TSXV:GHML) over its Redbank/Wollogorang Copper Project. Golden Horse Minerals has the option to acquire a 10% interest in the Tenements by spending $600,000, with the potential to increase its ownership to 90% by expending a further $4.5m and funding a pre-feasibility study, subject to entering into a joint venture agreement. This agreement marks a significant milestone for NT Minerals, reducing tenement holding costs and allowing the Company to allocate financial resources to other projects. The future outlook involves the potential formation of a joint venture to explore and develop mineral deposits on the Tenements, presenting opportunities for both companies to advance their respective projects.