Southstone Confirms Shareholder Approval FOR Disposition of the Kwena Group
Southstone Minerals Limited
202 – 5626 Larch Street
Vancouver, British Columbia
V6M 4E1, Canada
TSX Venture: SML
SOUTHSTONE CONFIRMS SHAREHOLDER APPROVAL FOR
DISPOSITION OF THE KWENA GROUP
VANCOUVER, BRITISH COLUMBIA — 15 May 2020 – Southstone Minerals Limit ed (“Sou thston e” or
the “Company”) ( T S X . V – S M L ) i s p l e a s e d t o a n n o u n c e t h a t a t t h e a n n u a l a n d s p ecial shareholders
meeting held on May 15 th, 2020, the Company received disinterested and minority shareho lder
approval of the Company’s disposition of the Company’s 49% interest in the issued and outstanding
Ordinary S hares and 74% interest in the issued and outstanding Preference Shares of each of Kwena
Mining Projects (Pty) Ltd., Kwena Mining and Metallurgical Servi c e s ( P t y ) L t d . a n d K w e n a S p r i n g l a k e
P r o j e c t s ( P t y ) L t d . , as m o r e p a r t i c u l a r ly d e s c r i b e d i n t h e C o m pany’s News Release dated March 23rd,
2020.
Subject to final TSX.V approval, the Company is proposing to close the transaction as of May 20th,
2020.
ON BEHALF OF THE BOARD OF DIRECTORS OF SOUTHSTONE MINERALS LIMITED
Mr. Samer Khalaf
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward‐Looking Statement
Certain information set forth in this news release contains “fo rward‐looking statements” and “forward‐
looking information” under applicable securities laws. Except f or statements of historical fact, certain
information contained herein constitutes forward‐looking statements, which include management’s
assessment of future plans and operations and are based on curr ent internal expectations, estimates,
p r o j e c t i o n s , a s s u m p t i o n s a n d b e l i e f s , w h i c h m a y p r o v e t o b e i n correct. Some of the forward‐looking
statements may be identified by words such as “forecasts”, esti mates”, “expects” “anticipates”,
“believes”, “projects”, “plans”, “outlook”, “capacity” and simi lar expressions. These statements are not
guarantees of future performance and undue reliance should not be placed on them.
Such forward‐looking statements necessarily involve known and u nknown risks and uncertainties,
which may cause the Company’s actual performance and financial results in future periods to differ
materially from any projections of future performance or result s expressed or implied by such forward‐
looking statements. These risks and uncertainties include, but are not limited to statements with
respect to the estimation of mineral resources; the realization of mineral resource estimates;
anticipated future production, capital and operating costs; cas h flows and mine life; potential size of a
mineralized zone; potential expansion of mineralization; potent ial types of mining operations;
permitting timelines; government regulation of exploration and mining operations; risks that the
presence of diamond deposits mentioned nearby the Company’s property are not indicative of the
diamond mineralization on the Company’s property, the supply an d demand for, deliveries of and the
level and volatility of prices of rough diamonds, risks that th e actual revenues will be less than
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projected; risks that the target production for the existing mi ning contracts will be less than projected
or expected; risks that production will not commence as project ed due to delay or inability to receive
governmental approval of the Company’s acquisition or the timel y completion of an NI43‐101 report;
technical problems; inability of management to secure sales or third party purchase contracts; currency
and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events
which could disrupt operations, including labor stoppages and s evere weather conditions; and
management’s ability to anticipate and manage the foregoing factors and risks.
The forward‐looking statements a nd information contained in thi s news release are based on certain
assumptions regarding, among other things, future prices for co al and diamonds; future currency and
exchange rates; the Company’s ability to generate sufficient cash flow from operations and access
capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to
retain qualified staff and equipment in a cost‐efficient manner t o m e e t it s d e m a n d . T h e r e c a n b e n o
assurance that forward‐looking statements will prove to be accu rate, as actual results and future
events could differ materially from those anticipated in such statements. The reader is cautioned not to
place undue reliance on forward‐looking statements. The Company does not undertake to update any
of the forward‐looking statements contained in this news releas e unless required by law. The
statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these
levels of revenue.