POWER AGREES SALE OF SANTA INES PROJECT

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Power Minerals Limited (ASX: PNN) executed a binding sale and purchase agreement to sell its 100%-owned Santa Ines copper-gold project to Fuyang Mingjin New Energy Development Co., Ltd (Mingjin) for A$1.5mn.
Power is pivoting to a focus on lithium projects and considers Santa Ines to be a non-core asset.
Santa Ines consists of four mining leases covering 61.4Km2, and lying 80km SE of BHP’s Escondida mine is considered to be part of the same geological setting.
Mingjin recently made a A$2.6mn strategic investment in Power.

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