BRIEF-Everest Metals Says Gave Notice To Red X Resources To Terminate Term Sheet

Reuters09-16

Sept 16 (Reuters) - Everest Metals Corporation Ltd

* PROVIDED NOTICE TO RED X RESOURCES TO TERMINATE TERM SHEET

* TERM SHEET TERMINATED DUE TO CONDITION PRECEDENTS NOT BEING MET BY RED X RESOURCES WITHIN REQUIRED TIME FRAMES

* WILL CONTINUE TO EVALUATE OPPORTUNITIES IN LINE WITH STRATEGY TO SPIN OUT URANIUM ASSETS EITHER VIA IPO OR RTO

Further company coverage:

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

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