Lachlan Star Announces Sale of Non Core Properties

15.09.2014  |  Marketwire

PERTH, WESTERN AUSTRALIA -- (Marketwired - Sept. 15, 2014) - Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (ASX:LSA) (TSX:LSA) announces that its Chilean subsidiary, Compañía Minera Dayton ("Dayton"), has sold certain mining properties to Compañía Minera Teck Carmen de Andacollo ("CDA").

The properties being sold adjoin CDA's mining properties and are non-core to Dayton's gold mining operations. Dayton will receive US$3 million on completion of the transfer of one group of mining properties to CDA plus US$0.5 million for the grant of a five year purchase option that would result in additional proceeds of US$1.5 million if CDA exercises such option to purchase further mining properties.


For and on behalf of the Board

Bira de Oliveira, Chief Executive Officer



To view the full announcement please click the link below:
http://www.lachlanstar.com.au/images/TeckLandSale150914.pdf

ABN: 88 000 759 535


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CONTACT INFORMATION

Lachlan Star Limited
Michelle McAuliffe
+61(8) 9481 6006
michelle.mcauliffe@lachlanstar.com.au
www.lachlanstar.com.au