REG - Paternoster Res. - Announcement by Metal Tiger plc <Origin Href="QuoteRef">PRSPA.L</Origin>

Riverfort Global OpportunitiesAnnouncement

30/10/2014 06:36

RNS Number : 5801V
Paternoster Resources PLC
29 October 2014
29 October 2014
Paternoster Resources plc
("Paternoster" or the "Company")
Announcement by Metal Tiger plc re. Thailand Gold Prospects
Paternoster is pleased to note the announcement by Metal Tiger plc ("Metal Tiger") that it has entered into a Joint Venture Agreement ("JVA") with Thailand-based South East Asia Exploration and Mining Company Limited ("SEAM") and Southeast Asia Mining Corp. - the parent company of SEAM. This formalises Metal Tiger's opportunity to progress and potentially control gold exploration targets in two of Thailand's gold regions. Subject to the Company triggering certain staged milestones over the next 20 months, Metal Tiger has the ability to acquire a 75% joint venture stake in the projects.
Nicholas Lee, Chairman commented:
"I am pleased that Metal Tiger has signed theJoint Venture Agreement. The company is now well placed to develop its presence in Southeast Asia. Along with the recent option over a license for tin, tungsten and gold in North West Spain, the company is making good progress in developing a number of natural resources assets."
For more information please contact:
Paternoster Resources plc:

Nicholas Lee, Chairman
Matt Lofrgan, Non-Executive Director
+44 20 7580 7576
Nominated Advisor and Joint Broker:

Westhouse Securities

Antonio Bossi / David Coaten
+44 20 7601 6100
Joint Broker:

Peterhouse Corporate Finance

Lucy Williams
+44 20 7562 3351

This information is provided by RNS
The company news service from the London Stock Exchange
  END
JVEZMMZGGLLGDZM