Snowy River Mine Project

Federation Mining has signed an Agreement with leading gold miner OceanaGold for the future development of Snowy River Mine Project, located near Ikamatua on the West Coast of the South Island of New Zealand.

OceanaGold will support the project’s establishment with seed financing for the potential future construction of a decline (tunnel) to the base of the historic workings.

Once the decline access is completed, Federation Mining will establish underground drill chambers and undertake a drilling program with the aim of converting the majority of the current Mineral Resource to the Indicated JORC category to support a mining decision.

Under the terms of the Agreement, Federation Mining has the exclusive right to purchase Blackwater from OceanaGold upon Federation Mining deciding to develop the mine.