Australian Jade Mining Ltd (AJML) with Agreement on Acquisition of New Tenement Group


    24 October 2017

    GWM Resources NL is pleased to announce that we have incorporated a new public limited company ‘Australian Jade Mining Limited’ (AJML). We are also excited to announce that Australian Jade Mining Limited (AJML) has signed a binding Terms Sheet on a multi-million dollar semi-precious gemstones deal with Ardea Resources Limited (ARL) on 27 September 2017. All semi-precious gemstones include chrysoprase (Australian jade), chalcedony, opal, agate, moss agate, and ice jade.

    In this acquisition, Australian Jade Mining Limited (AJML) will acquire semi-precious gemstones rights on 8 mining and exploration tenements in the areas of northeast and north of Kalgoorlie in Western Australia.

    They include 5 tenements with the area of 2,695 hectares in Yerilla East and Jump Up Dam, where licences will be fully transferred; and also another 3 tenements with the area of 6,116 hectares at Aubils and Canegrass, where AJML will obtain all rights in semi-precious gemstone. The tenement group add up to a total area of 8,811 hectares.

    It is found that a significant occurrence of chrysoprase mineralisation is identified in drill spoil from drilling in the Yerilla mine recently. AJML will source chrysoprase from numerous sources on the tenement group that are part of the agreement, and the agreement will set the foundation for a mutually beneficial relationship between AJML and ARL on a long term basis.

    Chrysoprase is one of Australia’s true signature gemstones. It is rich green-coloured. There is increased interest in and increased prices for chrysoprase in China where it is used in jewellery and carvings.

    High demand for jade in China and most Asian countries provide unlimited opportunity for GWM and AJML which have a good relationship in the high-end Chinese jewellery industry. AJML will utilize its expertise and relationships in the Chinese jewellery industry to mechanise chrysoprase mining in Western Australia. AJML aims to become Australia’s premiere chrysoprase supplier into Chinese and other Asian jewellery market.

    AJML intends to commence construction of a commercial operation in the tenement group as soon as possible, especially on the chrysoprase mining at and around Yerilla mine. Chrysoprase at Jump Up Dam and gem-quality white and grey chalcedony (Ice Jade) at Canegrass will also be targeted. AJML will establish an office in Kalgoorlie to manage its operations. We also plan to establish a Chinese subsidiary for retail trading after polishing and processing.

    We are confident that our business will ensure that all our shareholders will receive the best possible return in the coming future.

    By Order of the Board of Directors

    This Notice has been issued for and on behalf of the GWM & AJML on 24th October 2017