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MYANMAR METALS LIMITED

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Welcome to Myanmar Metals

Myanmar Metals Limited (ASX: MYL) has recently secured the option for a controlling interest in the world-class Bawdwin lead/zinc/silver/copper polymetallic mine lease currently held by Win Myint Mo Industries Co Ltd. The Bawdwin Mine provides MYL with an outstanding opportunity to develop into a regionally significant producer of lead and zinc in the current tight global market for these commodities.

MYL Highlights:

  • Unrivalled listed-company exposure to a large underdeveloped multi-commodity deposit
  • Option in place to take a controlling interest (initially 85% with 5% buy-back) for US$20 million payable by 21 May 2018
  • MYL recently released maiden JORC 2012 compliant Inferred Mineral Resource of 4Mt at 7.5% Pb, 3.5% Zn, 0.33% Cu and 178g/t Ag at 2.0% Pb cut-off grade
  • Maiden JORC Resource represents only the extensive mineralised “halo” around the high grade lodes historically mined underground
  • CSA Global currently completing a Scoping Study on the potential for an open pit mine development on the new resource
  • 160km from Chinese border – an importer of ca. US$1.5 billion worth of zinc and US$2.0 billion worth of lead p.a

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SCOPING STUDY INDICATES ROBUST DEVELOPMENT OPTION FOR BAWDWIN PROJECT 
Highlights
  • Scoping Study completed by CSA Global confirms the potential for a technically and financially robust project development at Bawdwin
  • The Scoping Study builds on a new Inferred Mineral Resource estimate of 75.9 Mt at 4.6% Pb, 2.3% Zn, 0.25% Cu and 119 g/t Ag (ASX release of 1 December 2017) that is based on more than 56 kilometres of historical underground sampling and geological mapping of exploration drives and the open pit, almost 3000 metres of core drilling in 2017, and 669 metres of channel sampling in 2017.
  • Despite the high data density and robust geological understanding, the absence of quality control data for the historical data, has led to a conservative decision to classify the Mineral Resource as Inferred. In accordance with ASX and ASIC guidance, MYL is restricted from disclosing forecast production and financial information in this announcement as a result of the Mineral Resource solely comprising Inferred Resources.
  • The Scoping Study achieved its objective in providing MYL with justification to progress to a Feasibility Study following exercise of the Bawdwin option (once exercised). It also provided estimates of mine life, annual production, capital and operating costs, revenue and cash flow that informed recent discussions with the Ministry of Natural Resources and Environmental Conservation in Myanmar.
  • Bawdwin was formerly a substantial mine, producing for over 80 years and with annual production of over 0.5 Mt per annum of high-grade silver, lead, and zinc-rich ore in its heyday (ASX release of 24 May 2017). This history, in combination with the extensive past data and excellent understanding of the geology, underpinned the decision to undertake the study on the Inferred Resource.
  • The Scoping Study envisages a long-life, low-cost, low strip-ratio, 250 metre-deep open-pit mine with a conventional milling and flotation circuit to produce zinc and lead-silver-copper concentrates.
  • There is good potential to increase the envisaged open-pit Life of Mine production considering the lack of shallow drilling surrounding the current Mineral Resource.
  • A new program of drilling is planned to commence in January 2018 leading to an updated Mineral Resource estimate in the second quarter with the aim of improving classification to Indicated in the first pit shell.
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BENCHMARKING BAWDWIN MARK CREASY 
BECOMES LARGEST SHAREHOLDER


20171031 Map.PNG
  • Unlocking value from one of Asia's largest underdeveloped multi-commodity assets
  • Rare opportunity to build and develop world class tier 1 base metals mine
  • Mark Creasy's Yandal investments key financier - #1 Shareholder

Myanmar Metals Limited (ASX: MYL) has secured the option for up to an 85% participating interest in the world-class Bawdwin lead/zinc/silver/copper polymetallic mine lease held by Win Myint Mo Industries Co. This gives the company the right to acquire a base metals mining opportunity in Myanmar, possibly the last Tier-1 Lead/Zinc/Silver mine available globally.


Highlights
  • Board replaced in June 2017 with new professional board.
  • Option to take a controlling interest in the Bawdwin mine in Myanmar was secured with the financial assistance of Mark Creasys’ Yandal Investments.
  • Recent Maiden Mineral Resource estimate reported under JORC Code 2012 edition: Total Inferred Mineral Resource of 41.4 Mt at 7.5% Pb, 3.5% Zn, 0.33% Cu and 178g/t Ag at a cut-off of 2.0% Pb.
  • The Mineral Resource estimate provides key input to the ongoing Scoping Study to assess an open-pit mine development strategy at Bawdwin and provide a basis for Myanmar Government permitting.
  • Whilst initial resource is tier 1 and already alongside world’s best, it represents only the beginning of the new Bawdwin story.
“Probably the best investment opportunity in the world right now is Myanmar… It’s like when China opened up in 1978. There were unbelievable opportunities going forward. The same is true in Myanmar now in my view”
- Legendary commodities guru Jim Rogers

Read the full announcement here

Non-Executive Chairman – John Lamb

B. Surv(IT) | Grad.Dip.Man | MBA | M.AusIMM(CP) | GAICD

Mr Lamb is an experienced business leader in the mining, construction, forestry and transport sectors. His career of over 25 years includes Chief Executive roles for Shaw Contracting (civil construction) and Lloyds North (transport and forest services); general management roles at the Rosebery (underground polymetallic) and Century (open cut zinc/lead) mines and many years of business and technical management, principally in the minerals sector.

John Lamb has built and managed mining operations throughout Australia and has served as a director on the boards of industry bodies, regional land management councils, a large pastoral company and several small businesses. He has consulted widely in the fields of business improvement, risk management and strategic planning.

A qualified surveyor, he also holds degrees in management and business; is a Chartered Professional Member of the Australasian Institute of Mining and Metallurgy and an Order of Merit Graduate of the AICD Company Directors course.

Mr Lamb was a director of the Tasmanian Minerals and Energy Council for six years, operates a private business consultancy and is chairman of business broking firm Tasmania Invest.


Non-Executive Director – Jeffrey Moore

B.SC, | MAusIMM, | MGSA

Mr Moore is a geologist with extensive technical, managerial and project finance experience in exploration and mining for publicly listed companies.

During his career, he has generated, managed and developed projects for commodities including precious metals, base metals, diamonds, nickel and industrial minerals throughout Australia, Central and South America, Africa and Asia.

Mr Moore shas held previous directorships and Chief Executive roles with significant companies including Allied Gold Limited from 2004 to 2008, Abra Mining Limited from 2006 to 2011 and is currently Executive Chairman of Riedel Resources Limited (ASX: RIE). Mr Moore is also a corporate member of the

Australasian Institute of Mining and Metallurgy and a member of the Geological Society of Australia.


Non-Executive Director and Company Secretary – Rowan Caren

B Com, | CA

Mr Caren has 25 years of commercial experience as a Chartered Accountant, having qualified with PricewaterhouseCoopers in 1992. He has been involved in the minerals exploration industry for over twenty years and in 2004 created a specialist company secretarial and advisory consultancy, Dabinett Corporate Pty Ltd.

Mr Caren has provided financial and corporate services to several listed and unlisted companies involved in the resources sector. Mr Caren graduated with a Bachelor of Commerce (Accounting) from the University of Western Australia and is a Member of the Institute of Chartered Accountants in Australia.

      

                   
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