Completion of Acquisition of Viper Project

• Acquisition of Viper Project tenements completed
• Initial cash consideration of $2.7 million paid
• Joint venture formed with a 75% interest for Maverick

Maverick Minerals Australia Ltd (ASX: M96) has successfully completed the acquisition of the Viper Project tenements from Caprice Resources Ltd (ASX: CRS). The acquisition includes 8 granted tenements and 7 tenement applications in the West Arunta Region. The initial cash consideration paid to Caprice is $2.7 million. An additional $190,000 will be payable in shares if Maverick commences an exploration program. A joint venture has been formed for certain tenements with Maverick holding a 75% interest.