Integra acquires additional tenements near Mount Monger

Integra Mining has completed a two-part transaction to acquire a controlling...

  Integra Mining has completed a two-part transaction to acquire a controlling interest in 23 granted prospecting permits, one granted exploration licence and one application for a prospecting permit adjacent to the company's Mount Monger Project.The tenements have an area of approximately 35sqkm and Integra considers the areas as prospective for bulk tonnage gold mineralisation. This acquisition further consolidates the region 'in the shadow of the headframe' of Integra’s expected mine development areas.The transactions include the acquisition of an approximate 20% interest from Solomon (Australia) Pty Ltd for a consideration of 836,030 fully paid Integra shares, with a notional transaction value of $500,000 and an agreement with Newcrest Operations Pty Ltd to revert an 80% interest to a 15% free-carried interest to a Decision to Mine. The effect of these transactions provides Integra with a controlling interest of 85% in the tenements to a Decision to Mine, at which point Newcrest may elect to contribute to capital and retain a 15% interest or can elect to have Integra acquire Newcrest's 15% interest at a value to be determined by an independent party in accordance with the ValMin Code.