Solstice Minerals (ASX: $SLS) announces divestment of Hobbes Exploration Licence

Solstice Minerals Limited (ASX: $SLS) has entered into a binding Sale and Purchase Agreement with Northern Star (Carosue Dam) Pty Ltd to divest its 80% interest in Hobbes exploration licence E31/1117 for a total consideration of $12.5 million. The sale is expected to bolster Solstice's cash balance and enable the company to concentrate its resources on new prospects within and around the Yarri Gold Project, Ringlock Dam, and the Ponton Project.

Executive Commentary on the Sale of Hobbes Exploration Licence

The divestment of our interest in the Hobbes Exploration Licence is a strategic move that will provide us with additional funds to further our exploration efforts in the Yarri Gold Project and other key projects. This sale aligns with our focus on maximizing value for our shareholders and concentrating on areas with high potential for new mineralization. We are optimistic about the opportunities that lie ahead and remain committed to delivering long-term value for our stakeholders.

Summary of Solstice Minerals' Announcement

Solstice Minerals (ASX: $SLS) has successfully entered into a binding Sale and Purchase Agreement with Northern Star (Carosue Dam) Pty Ltd to divest its 80% interest in the Hobbes Exploration Licence for $12.5 million. The sale is expected to bolster Solstice's cash balance by $10 million and will enable the company to focus on new prospects within and around the Yarri Gold Project, Ringlock Dam, and the Ponton Project. The company continues to assess new targets that would complement its current Yarri gold tenure and explore commercial opportunities to add value for shareholders. With a strong focus on maximizing shareholder value and exploring new mineralization opportunities, Solstice Minerals remains committed to its long-term growth strategy.