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Estrella to sell nickel rights in Munda project for A$250,000

Estrella Resources Ltd.'s subsidiary WA Nickel Pty. Ltd. entered into a binding agreement with an unrelated party to sell its nickel rights in the Munda nickel-gold project in Western Australia for A$250,000.

Estrella said Aug. 30 it will retain its gold rights in the project.

The disposal will allow Estrella to focus on its core assets, particularly the Carr Boyd nickel project, also in Western Australia, without the need to dilute shareholder interests.

Estrella expects to receive proceeds from the sale within the next seven days.