Tanami Exploration

Altura holds a 10% interest announced in four (4) tenements located in the Tanami region of the Northern Territory, with its joint venture partner ABM Resources NL (ABM) which holds the remaining 90% of the tenements.

The four Tanami tenements comprise two that have been granted (EL 26628 and EL 29828) and two that are in application (EL 26626 and EL 26627), and collectively comprise an area of nearly 2,000 square kilometres.

Altura and ABM have agreed to form an unincorporated joint venture on either the definition of a JORC resource of at least 250,000 ounces of gold, or a decision to mine a smaller resource, with Altura retaining a free-carried interest of 10% in the tenements until the above conditions for the formation of a joint venture have been met.