Sydney, Australia, March 12, 2018 (GLOBE NEWSWIRE) -- Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the “Company”) is pleased to announce it has completed the draw-down of the US$16M silver stream prepayment from Orion Mine Finance. The silver stream prepayment, as announced to the market on 30 June 2017, represents a key component of the overall A$240M project finance package for the development of the Company’s Woodlawn Zinc-Copper Project. 

Heron’s Managing Director, Wayne Taylor, commented:

“The draw-down of the US$16M silver stream prepayment is a significant milestone for the Woodlawn project finance and was subject to the completion of specific conditions precedent, all of which have been satisfied. The prepayment is being drawn-down in accordance with the project timeline with the funds to be utilised for Woodlawn plant construction activities. The project is advancing to schedule and once in production will position the Company to capitalise on favourable conditions in the physical zinc market.”

About Heron Resources Limited:

Heron’s primary focus is the development of its 100% owned, high grade Woodlawn Zinc-Copper Project located 250km southwest of Sydney, New South Wales, Australia.  In addition, the Company holds a significant high quality, gold and base metal tenement holding regional to the Woodlawn Project.