Arena Provides Joint Venture Agreement and Corporate Update

November 5, 2017

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TORONTO, ONTARIO–(Marketwired – Nov. 1, 2017) – Arena Minerals Inc. (“Arena” or the “Company”) (TSX VENTURE:AN) announces that the Company has decided to exercise the underlying Atacama option agreement with Sociedad Quimica y Minera de Chile (“SQM”) on two projects consisting of a total of 7,061 hectares. The company also wishes to inform that both the Japan Oil Gas and Mineral National Corporation (“JOGMEC”) and Teck Chile Ltd (“Teck”) have opted out of the respective joint venture agreements with the Company The two projects retained by Arena are the epithermal gold Paciencia project and the copper porphyry Pampa Union project, which are anticipated to form two joint venture companies with SQM on a 80% Arena and 20% SQM basis. Arena and SQM have agreed to a six month time period to complete the formation of these joint venture companies, which includes Arena making the underlying payment of USD30 per hectare retained.

Category: General