• Altamin acquires remaining 29.85% stake in Vedra Metals Srl
• Altamin now holds 100% interest in the Gorno Project
• Acquisition facilitates sale process for the Gorno Project

Altamin Limited (ASX: AZI) has completed the acquisition of the 29.85% interest held by Appian Italy B.V. in Vedra Metals Srl (Vedra), following the receipt of all regulatory approvals required in Italy. Altamin's wholly-owned subsidiary, Energia Minerals (Italia) S.r.l., has settled the nominal initial consideration of €1.00 for the acquisition. With the completion of this transaction, Altamin now holds a 100% interest in Vedra and the Gorno Project, and the previous joint venture arrangements with Appian have been terminated. Altamin will now pursue the realization of value either through a direct or indirect disposal of its interest or a strategic interest in Vedra or the Gorno Project by initiating a process in accordance with the acquisition terms, or through the continuation of progress towards a final investment decision to enable development of the Gorno Project. The new sole ownership structure helps to facilitate a sale process for the Gorno project and will support the progress of the Gorno Project towards commercial production. Altamin is currently undertaking an environmental impact assessment (EIA) in relation to the CIME exploration permit, and it is unlikely the mining lease application will be made in advance of the completion of the EIA process, which is estimated to take approximately 12 months.

Altamin will now pursue the realization of value either through a direct or indirect disposal of its interest or a strategic interest in Vedra or the Gorno Project, or through the continuation of progress towards a final investment decision to enable development of the Gorno Project.