Musgrave Minerals Ltd (ASX: MGV) is pleased to report that Evolution Mining Limited (“Evolution”) has satisfied the earn-in requirement under the Cue Project Earn-in and Exploration Joint Venture Agreement and has earned a 75% interest in the Cue Joint Venture in Western Australia’s Murchison district.
An unincorporated joint venture is now formed and a joint venture committee will be established.
Musgrave has the right to contribute to ongoing exploration costs on a pro-rata basis to maintain its 25% interest or can elect to dilute.
Musgrave is an Australian gold explorer and developer focused on the Cue Project in the Murchison region of Western Australia.