Company Tenements

Queensland

SMA Mining – Artemis Joint Venture Tenements (SMAM 95% owned by SMA)
SMA was incorporated on 6 December 2013 as a proprietary company for the purpose of acquiring and exploring a contiguous group of “Exploration Permit for Minerals” (EPM) tenements in the Georgetown area of North Queensland, namely EPM’s 13694, 14988, & 18490. These tenements are held in a 95% owned subsidiary – SMA Mining Pty Ltd.
SMA regards the potential for economic deposits of silver, gold, base metals, lithium and related strategic metals to occur on the “Tenements” as significant.
A Joint Venture Agreement (“JV”) was entered into with Artemis Resources Limited commencing on 1 January 2014. SMA met the JV terms of the First and Second Earning Periods Expenditure for the “Tenements” in the two years of operation and thus earned 95% equity in these tenements with titles transferred to SMA Mining Pty Ltd.
SMAM has an irrevocable option (Option 2) to acquire the remaining 5% for $100,000 plus 100,000 fully paid shares in SMA and a 2% royalty of net sales receipts by the Company in respect of the “Tenements”.
If SMA does not exercise Option 2, Artemis will retain a 5% free carried interest to a Decision to Mine. At that point Artemis may opt to contribute 5% to any development budget or revert to the 2% royalty on net sales.

SMA and SMA Mining Queensland Tenements

SMA Tenements (SMA 100%) NSW