/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
UNITED STATES SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, March 21,
2023 /CNW/ - Macarthur Minerals
Limited (TSXV: MMS) (ASX: MIO) (OTCQB: MMSDF) (the
Company or Macarthur), pursuant to the Company's
Share Compensation Plans ("Plans"), the Board of Directors of the
Company has granted an aggregate of 7,200,000 stock options
("Options") to acquire common shares of the Company to Directors of
the Company. The Options have an exercise price of A$0.20, vest immediately and expire three years
from the date of issue.
The Options are being issued under the terms of the Company's
Share Compensation Plans which were approved by shareholders at the
Company's Annual General Meeting on 31
August 2022.
On behalf of the Board of Directors, Mr Cameron McCall, Executive Chairman and
CEO
Company profile
Macarthur is an iron ore development, and lithium exploration
company that is focused on bringing to production its Western Australia iron ore projects. The Lake
Giles Iron Project mineral resources include the Ularring hematite
resource (approved for development) comprising Indicated resources
of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26
million tonnes at 45.4% Fe and the Lake Giles magnetite resource of
53.9 million tonnes (Measured), 218.7 million tonnes (Indicated)
and 997 million tonnes (Inferred). The Lake Giles Iron Project also
contains Proven Ore Reserves of 51.9 Mt and Probable Ore Reserves
of 184.7Mt. Macarthur also holds 24 square kilometre tenement area
iron exploration interests in the Pilbara region of Western Australia. In addition, Macarthur has
lithium brine Claims in the emerging Railroad Valley region in
Nevada, USA.
Caution Regarding Forward Looking
Statements
Certain of the statements made and information contained in this
press release may constitute forward-looking information and
forward-looking statements (collectively, "forward-looking
statements") within the meaning of applicable securities laws. All
statements herein, other than statements of historical fact, that
address activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future,
including but not limited to statements regarding expected
completion of the Feasibility Study; conversion of Mineral
Resources to Ore Reserves or the eventual mining of the Project,
are forward-looking statements. The forward-looking statements in
this press release reflect the current expectations, assumptions or
beliefs of the Company based upon information currently available
to the Company. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and no assurance can be given that these
expectations will prove to be correct as actual results or
developments may differ materially from those projected in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include but are not limited to: unforeseen technology changes that
results in a reduction in iron or magnetite demand or substitution
by other metals or materials; the discovery of new large low cost
deposits of iron magnetite; the general level of global economic
activity; failure to complete the FS; inability to demonstrate
economic viability of Mineral Resources; and failure to obtain
mining approvals. Readers are cautioned not to place undue reliance
on forward-looking statements due to the inherent uncertainty
thereof. Such statements relate to future events and expectations
and, as such, involve known and unknown risks and uncertainties.
The forward-looking statements contained in this press release are
made as of the date of this press release and except as may
otherwise be required pursuant to applicable laws, the Company does
not assume any obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
SOURCE Macarthur Minerals Limited