Full Metal sells Interest in Pebble South Property to PLP
FOR IMMEDIATE RELEASE May 1st, 2013 (FMM 2013 NR #1)
Full Metal sells Interest in Pebble South Property to PLP
Vancouver, BC May 1st, 2013 Full Metal Minerals Ltd. (FMM-TSX:V) (“Full Metal) is pleased to announce that it entered into a Membership Interest Purchase and Sale Agreement, dated April 30th 2013, with Pebble Limited Partnership ("PLP"), a 50:50 partnership between a wholly-owned subsidiary of Anglo American plc and a wholly-owned affiliate of Northern Dynasty Minerals Ltd. pursuant to which PLP will purchase an unencumbered 100% membership interest in the joint venture entity (the “JV Co”) that is the indirect owner of a 100% interest in Full Metal’s Pebble South Property. In an agreement signed September 9, 2010, as subsequently amended and restated, PLP was earning a 60% membership interest in the JV Co that indirectly owns the Property.
Pursuant to the terms of the Membership Interest Purchase and Sale Agreement, PLP will purchase a 100% membership interest in the JV Co that indirectly owns the Property by making a US$750,000 cash payment to Full Metal Minerals. Proceeds from the sale will be used to advance the Full Metal’s wholly owned and joint ventured projects in Alaska, and for general working capital.
Full Metal is a generative exploration company with three joint ventures on precious and base metal projects in Alaska. An initial Resource Estimate for the Pyramid copper-gold-molybdenum porphyry deposit is expected shortly.
ON BEHALF OF THE BOARD OF DIRECTORS
“Michael Williams”
Michael Williams President and Director
For more information please contact:
Doug Ramshaw, Corporate Development [email protected] 604-484-7855
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2 Telephone: 604-484-7855 Fax: 604-484-7155 Email [email protected] www.fullmetalminerals.com
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