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Morning Star Gold shareholders approve 95% acquisition by Mantle Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

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Morning Star Gold shareholders approve 95% acquisition by Mantle Mining

said April 29that the shareholder of Morning StarGold NL approved Mantle Mining's proposed acquisition of a 95% interestin the company during a general meeting held the same day.

The transactionwas announced in August2015, when Mantle signed a deal with Morning Star's deed administrators and securedcreditor.

Following thereceipt of the approval, Mantle will now move to finalize the second tranche ofthe placement it announcedin November 2015. A portion of the funds raised under the financing will be usedfor the A$650,000 subscription for an interest-free convertible note in MorningStar, which is fully convertible into a 95% interest in the company.

According toIan Kraemer, Mantle's managing director, the company has been working on restartingoperations at the Morning Stargold mine in Victoria, Australia, in anticipation of the shareholder approval andcan now progress its efforts to resume the mine's operation.