SABLE EXPLORATION AND MINING LIMITED - Memorandum Of Understanding with Boo Wa Ndo Holdings (Pty) Ltd

Memorandum Of Understanding with Boo Wa Ndo Holdings (Pty) Ltd

Sable Exploration and Mining Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2001/006539/06)
(Share Code: SXM)
(ISIN Code: ZAE000303319)
("SEAM" or "the Company")
General Segment


MEMORANDUM OF UNDERSTANDING WITH BOO WA NDO HOLDINGS (PTY) LTD

Introduction
The Board of Directors of SEAM is pleased to announce that the Company has entered into a
Memorandum of Understanding ("MOU") with Boo Wa Ndo Holdings (Pty) Ltd ("BOO"), for the
acquisition of a 55% interest in the prospecting rights and mining permits over two properties in
Limpopo, namely Moskow and Zoetvelden farms ("the Properties")("the Transaction"). These
properties host known Vanadium, Titanium and Magnetite ("VTM") resources.


Details of the Transaction:
SEAM will issue 6 million shares to BOO at R1 per share in exchange for a 55% stake in the
Properties. The mining permit over the mineralised ridge on the Moskow farm will be transferred,
allowing SEAM to commence mining operations in the near term. SEAM and BOO have initiated
discussions regarding off-take agreements, with final laboratory results expected within two weeks.


Rationale for the Transaction
This transaction strengthens SEAM's asset base and aligns with its exploration mandate and will
improve the cashflow of the Company. The issuance of shares will assist in resolving SEAM's JSE
free float requirements.


Categorisation of the Transaction
The Transaction is a Category 2 transaction and does not require shareholders' approval.
Shareholders will be advised once a formal agreement has been entered into.



28 February 2025
Sandton
Sponsors: Exchange Sponsors

Date: 28-02-2025 01:37:00
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