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Malachite Resources Forms Strategic Alliance with Chinese Group
Thursday October 15, 2009, 9:58 am

Original Announcement: Malachite Forms Strategic Alliance with Chinese Group

Malachite Resources announced it has formed a strategic alliance with a privately owned Chinese/Australian investment group, known as Nanyang Mining Resources Investment. Under this alliance, Nanyang will become the Company's largest shareholder, through an equity injection in the short term, and, subject to documentation and mutual due diligence, will become the Company's JV partner at the Conrad Silver Project. Pursuant to the new alliance, Nanyang will: subscribe for 15m fully paid shares in Malachite at a price of $0.0855 each, raising $1.3m in new capital; receive 7.5m options to purchase additional shares at a price of $0.111 each at any time over the next three years; and nominate a suitably qualified and experienced person to become a director of the Company.

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