VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2013) - Full Metal Minerals Ltd. (News - Market indicators) ("Full Metal") is pleased to announce that it entered into a Membership Interest Purchase and Sale Agreement, dated April 30th 2013, with Pebble Limited Partnership ("PLP"), a 50:50 partnership between a wholly-owned subsidiary of Anglo American plc and a wholly-owned affiliate of Northern Dynasty Minerals Ltd. pursuant to which PLP will purchase an unencumbered 100% membership interest in the joint venture entity (the "JV Co") that is the indirect owner of a 100% interest in Full Metal's Pebble South Property. In an agreement signed September 9, 2010, as subsequently amended and restated, PLP was earning a 60% membership interest in the JV Co that indirectly owns the Property.
Pursuant to the terms of the Membership Interest Purchase and Sale Agreement, PLP will purchase a 100% membership interest in the JV Co that indirectly owns the Property by making a US$750,000 cash payment to Full Metal Minerals. Proceeds from the sale will be used to advance the Full Metal's wholly owned and joint ventured projects in Alaska, and for general working capital.
Full Metal is a generative exploration company with three joint ventures on precious and base metal projects in Alaska. An initial Resource Estimate for the Pyramid copper-gold-molybdenum porphyry deposit is expected shortly.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
Full Metal is a silver and gold exploration company based in Canada.
Full Metal holds various exploration projects in Canada.
Its main exploration properties are SHUMAGIN/APOLLO and CENTENNIAL PROJECT in USA and ANGIE-CAT, NADALEEN, MOORE CREEK, OG PROPERTY, RUSSIAN MOUNTAIN, HORN MOUNTAIN, PORT MOLLER, CHIGNIK, ROLLING THUNDER, PEBBLE SOUTH, PYRAMID ( ALASKA), 40 MILE, GRIZZLY BUTTE, BOULDER CREEK, TANACROSS and FORTYMILE ALASKA in Canada.
Its stock quote reached its highest recent level on December 02, 2005 at CA$ 9.60, and its lowest recent point on February 26, 2016 at CA$ 0.02.
Full Metal has 5 930 940 shares outstanding.
