Aurumin's Joint Venture for Sandstone Iron Ore

Aurumin Limited (ASX:AUN) has signed a binding term sheet with Newcam Minerals Pty Ltd for an exclusive option to conduct due diligence and earn a 50% interest in Iron Ore rights at Aurumin's Central Sandstone Project. The Central Sandstone Project, part of the Company's Sandstone Operations, includes the Birrigrin and Johnson Range Projects and has a total Resource of 946koz Au. Newcam is set to pay A$500,000 cash to Aurumin and fund fifty per cent of mutually agreed Exploration Expenditure on the Tenements before the expiry of the Option Period.

Aurumin's Managing Director, Brad Valiukas, on the Joint Venture

The iron ore at Sandstone is a bonus, and this potential joint venture with Newcam can accelerate our activity, reduce the need for funding and remove logistical hurdles for export, de-risking the project overall. Importantly for Aurumin shareholders, by joint venturing the iron ore we maintain far more upside and potential profit compared to a royalty-based transaction. Aurumin remain focused on generating the critical mass required for future gold production at our Sandstone Operations. The next step for both the iron ore and gold is drilling and we can now get going on a combined program.

Aurumin's Sandstone Operations and Future Outlook

Aurumin Limited (ASX:AUN) has secured an exclusive option with Newcam Minerals Pty Ltd to explore and develop iron ore rights at its Central Sandstone Project. The joint venture with Newcam is expected to accelerate activity, reduce funding needs, and simplify logistical challenges for export, thereby de-risking the project. This move aligns with Aurumin's focus on generating critical mass for future gold production at its Sandstone Operations. The company aims to advance both the iron ore and gold projects through drilling and a combined program. With a total Resource of 946koz Au, the Central Sandstone Project holds significant potential for Aurumin's future growth and development.