Wiluna Mining Corporation Ltd Stock Market Press Releases and Company Profile
Matilda Approvals and Funding Drawdown
Matilda Approvals and Funding Drawdown

Perth, June 14, 2016 AEST (ABN Newswire) - Blackham Resources Ltd (googlechartASX:BLK) ("Blackham") is pleased to announce it has gained its final approvals and funding commitment required to commence operations at its 4.8Moz Matilda Gold Project ("Project").

Project Approvals

The amendment to the existing Wiluna Environmental License has now been approved by the Department of Environment Regulation.

The Department of Mining and Petroleum ("DMP") has now approved the Williamson Mine Mining Proposal. The DMP also recently approved the Matilda Mine and Wiluna Mining Proposals. Vegetation clearing permits have been received over the entire mine plan.

The Department of Water has granted all the water extraction licenses over the Project required to begin dewatering the Matilda pits.

Debt Funding Drawdown

Furthermore, Blackham is pleased to report that as a result of receiving the above permits, Orion Mine Finance ("Orion") have confirmed the $23 million Project Facility is now available under the revised funding agreement (see ASX Announcement dated 7 December 2015). Orion and Blackham have agreed to extend the expiry term on the $23 million Project Facility from 31 August 2018 to 28 February 2019, with repayments being matched to gold price and cash flow resulting from the Project. Blackham has lodged a drawdown notice for $15 million which it expects to receive within 12 business days.

Plant and infrastructure refurbishment is progressing well and remains on schedule (see Photos 1 to 10). The Tailings Storage Facility (TSF) contractor has mobilised to site. Blackham expects the Matilda open pit and underground mining contractors to mobilise to site during June. Gold production from the Matilda Gold Project is on track for the September 2016 quarter.

To view photos, please visit:
http://abnnewswire.net/lnk/WDN9BKR4


About Wiluna Mining Corporation Ltd

Wiluna Mining Corporation LtdWiluna Mining Corporation (ASX:WMC) (OTCMKTS:WMXCF)  is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 8.04M oz at 1.67 g/t au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.

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Contact

Bryan Dixon
Managing Director
Blackham Resources
T: +61-8-9322-6418
E: info@blackhamresources.com.au
www.blackhamresources.com.au

David Tasker / Tony Dawe
Professional Public Relations
T: +61-8-9388-0944



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