• Mount Gibson to acquire 50% interest in Central Tanami Project Joint Venture from Northern Star
• Includes 2,100 sq km of mining and exploration tenements with 1.6 Moz JORC 2012 gold resources
• Acquisition cost of $61/oz for JORC 2012 resources, $38/oz inclusive of historical estimates

Mount Gibson Iron Limited has entered into a binding conditional agreement with Northern Star Resources Ltd to acquire Northern Star's 50% interest in the Central Tanami Project Joint Venture (CTPJV) in the Northern Territory, along with an extensive wholly-owned exploration landholding adjacent to the CTPJV. The CTPJV comprises over 2,100 sq km of mining and exploration tenements, hosting JORC 2012 Mineral Resources of 13.8 Mt at 3.6 g/t gold for 1.6 Moz of contained gold, as well as historical estimates of 11.2 Mt at 2.7 g/t gold for 1.0 Moz. The acquisition also includes a 1.2 Mtpa carbon-in-leach processing plant and other infrastructure. Mount Gibson intends to work with Tanami Gold, the other CTPJV partner, to fast-track technical studies and permitting to enable a potential development decision within 12-18 months, focused on the high-grade Groundrush deposit. The $50 million acquisition cost represents an attractive resource multiple of $61/oz for the JORC 2012 Mineral Resources, and $38/oz inclusive of the historical estimates.

Mount Gibson intends to work closely with Tanami Gold to actively pursue development studies and permitting activities to position for a potential development decision within the next 12-18 months, centered on the high grade Groundrush deposit.