Macarthur seeks filing extension under Canadian Securities Administrators Blanket Order

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VANCOUVER, British Columbia, Sept. 25, 2020 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (ASX: MIO) (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) is seeking an extension period of time under BC 51-517, section 4.2(l)(j) for the filing of a technical report National Instrument 43-101 Standards of Disclosure for Mineral Projects, pertaining to its Lake Giles Iron Project.

The Company expects to file the report on or before 10 November 2020 and confirms that Management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207.

Since the filing of the Company last interim financial report on 1 September 2020, the following material business developments have occurred:

• Conversion of the total of the company’s outstanding debt under the Convertible Notes;
• Extension of 7,928,183 post-consolidation common share purchase warrants that were issued as part of rights offering completed by the Company in December 2017, from 15 December 2020 to 15 December 2021;
• Trading on the OTCQB Venture commencing on 15 September 2020;
• Cancellation of the Earn-in Agreement with Fe Limited with effect from 15 September 2020.

On behalf of the Board of Directors, Mr Cameron McCall, Executive Chairman

For more information please contact:

Joe Phillips CEO & Director [phone] [e-mail]
Investor Relations – Australia Advisir Sarah Lenard, Partner [e-mail]		Investor Relations - Canada Investor Cubed Neil Simon, CEO [phone] [e-mail]

Company profile
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project mineral resources include the Ularring hematite resource (approved for development) comprising Indicated resources of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26 million tonnes at 45.4% Fe; and the Lake Giles magnetite resource of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated) and 997 million tonnes (Inferred). Macarthur has prominent (~721 square kilometer tenement area) gold, lithium and copper exploration interests in Pilbara region of Western Australia. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.