Macarthur Minerals $10M IPO Spinout of Infinity Mining Limited Closes Oversubscribed - Seite 2

Joe Phillips, Managing Director of Macarthur Minerals commented:

“Macarthur is pleased to report that the Offer under the Infinity Prospectus has been filled oversubscribed to the maximum A$10m and the company now will seek a 2021 listing date. Infinity Mining has contracted an experienced technical and geological team and will conduct a very active exploration campaign both in the Pilbara and the Central Goldfields over the course of the next few months. Macarthur is pleased to have worked with CPS and their professional corporate team under the guidance of Jason Peterson and I have been personally impressed with the quality of their clients and the reach that this company has in the Australian investment market. Well done to the CPS Perth team.”

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

For more information please contact:

Joe Phillips Managing Director [phone] [e-mail]
Investor Relations – Australia Advisir Alex Bunney, Manager Client Services [e-mail]	Investor Relations - Canada Investor Cubed Neil Simon, CEO [phone] [e-mail]

No new information
To the extent that this announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements (including supporting JORC reporting tables) made by the Company, unless explicitly stated, no new information is contained in accordance with Table 1 checklist in the JORC Code. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of Mineral Resources that all assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

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). The JORC reporting tables and Competent Person statement for the magnetite and hematite mineral resources have previously been disclosed in ASX market announcements dated 12 August 2020 and 5 December 2019. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.