BRIEF-MRG Metals Signs Binding Joint Venture Agreement

Reuters06-13

June 13 (Reuters) - MRG Metals Ltd :

* SIGNS BINDING JOINT VENTURE AGREEMENT TO DEVELOP MOZAMBIQUE HEAVY MINERAL SANDS PROJECTS

* SHALL RETAIN EQUITY OF 30% OF JV COMPANY$(S)$ THROUGH MINE START-UP AT 110,000 TONNES OF ANNUAL CONCENTRATE PRODUCTION

* ENTERED INTO BINDING JV AGREEMENT WITH SINOWIN LITHIUM (HK) AND SINOWIN LITHIUM COBALT(SHENZHEN)

* FOR JV SLC WILL PROVIDE IMMEDIATE INITIAL INVESTMENT OF $3 MILLION AND ONCE SPENT, ADDITIONAL $3 MILLION TO PROGRESS MINE APPROVALS

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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