SA Southern Arc Minerals Inc

Southern Arc Minerals (TSX VENTURE:SA)(OTCQX:SOACF) ("Southern Arc") today
announced that the Company has amended the sale agreement and closed the sale of
its interest in the Taliwang project. Pursuant to the terms of the agreement,
Southern Arc's wholly-owned subsidiary Indotan Sumbawa Pte. Ltd. has sold its
90% share in the Indonesian company that owns the Taliwang project (remaining
10% held by the West Sumbawa Regency Government) to a prominent Indonesian
businessman (the "Purchaser"). The Purchaser has paid US$1,000,000 and granted a
5% net smelter royalty ("NSR") to Southern Arc. The Purchaser has the option to
buy back 3% of the NSR by paying Southern Arc US$3,000,000. 


The Purchaser is required to make additional payments to Southern Arc to fulfill
the agreed purchase price. The Purchaser will pay Southern Arc 40% of gross
revenue generated from the Taliwang project, after payment of the Southern Arc
NSR, until the aggregate amount of such payments equals US$750,000.
Alternatively, the Purchaser has the option of making a one-time payment of
US$600,000 if the payment is made before January 12, 2015. 


"We are pleased to have completed the Taliwang sale in today's challenging
market conditions, particularly as the net smelter royalty and buy back terms
still allow Southern Arc to participate in the development and future success of
the Taliwang project," said John Proust, Chairman & Chief Executive Officer of
Southern Arc. 


On behalf of the Board of Southern Arc Minerals Inc. 

John Proust, Chairman & Chief Executive Officer

About Southern Arc

Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on
gold and copper-gold exploration. The Company holds two exploration properties
in Indonesia: West Lombok, a resource-stage property with several gold-rich
copper porphyry and epithermal gold vein prospects, and East Elang, a grassroots
exploration property that will be advanced in partnership with Vale
International SA. Southern Arc also owns 26% and is joint operator of Eagle Hill
Exploration, which owns the high-grade Windfall Lake Gold Project in Quebec,
Canada. More information is available at www.southernarcminerals.com. 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as such
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Forward-looking Statements 

This news release contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, the regulatory process and
actions, technical issues, new legislation, the uncertainties resulting from
potential delays or changes in plans, the occurrence of unexpected events, and
the company's capability to execute and implement future plans. Actual results
achieved may vary from the information provided herein as a result of numerous
known and unknown risks and uncertainties and other factors. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Southern Arc Minerals Inc.
Rhylin Bailie
Vice President, Communications & Investor Relations
604-676-5241 or North American Toll-free: 1-888-676-5241
info@southernarcminerals.com
www.southernarcminerals.com

Southern Arc Minerals (TSXV:SA)
Historical Stock Chart
From Nov 2024 to Dec 2024

Southern Arc Minerals (TSXV:SA)
Historical Stock Chart
From Dec 2023 to Dec 2024