ADN, Announcement 12/8/21

Summary

Andromeda Metals announced that it has executed a binding Heads of Agreement (HOA) with private entity Peninsula Exploration (Peninsula) to form the Eyre Kaolin Project JV (EKJV). Peninsula holds title to four ELA that cover 2,799sqkm located on the Eyre Peninsula of SA and which are adjacent to, or close proximity to, tenements that comprise the Great White Kaolin JV. The Company can earn up to an 80% interest in the EKJV tenements through sole funding expenditure of $2.75m over 6 years from commencement of the JV