Australia United Mining (ASX: $AYM) Joint Venture Confirmation

Australia United Mining Limited (ASX: $AYM) has confirmed a joint venture agreement with MinRex Resources Limited (ASX: $MRR) for EL7423, part of MRR's Sofala Gold Project in New South Wales. Under the agreement, MRR may earn a 51% interest in EL7423 by expending a minimum of $750,000 within a three-year period from the execution date of the joint venture agreement. AYM received confirmation from MRR that the minimum expending condition was satisfied, and subsequently assigned a 51% participating interest to MRR. AYM will now enter into an unincorporated joint venture with MRR to continue exploration on EL7423.

Executive Commentary on Joint Venture Agreement

The joint venture agreement with MinRex Resources represents a significant milestone for Australia United Mining. This partnership will allow us to leverage the expertise and resources of MRR to further explore and develop the potential of EL7423. We are confident that this collaboration will drive value for both parties and look forward to the opportunities it will bring.

Summary of Quarterly Activities Report

Australia United Mining Limited's quarterly activities report for the period ended 30 June 2024 highlights the confirmation of a joint venture agreement with MinRex Resources for EL7423, as part of MRR's Sofala Gold Project in New South Wales. The company also reported mining re-commencement at Ropewalk in Queensland and outlined its tenement holdings. With 1,842,577,485 ordinary fully paid shares on issue and approximately $33,000 in cash and bank deposits, AYM continues to pursue its exploration activities with the support of strategic partnerships. The outlook remains optimistic as the company aims to capitalize on the potential of its mining projects and drive sustainable growth.