Middle Island Resources Limited (ASX: MDI or 'Middle Island') is pleased to announce that it has entered into a binding Sale and Purchase Agreement ('SPA') with ASX-listed Strategic Energy Resources Ltd (ASX: SER or 'Strategic Energy') pursuant to which Middle Island proposes to acquire SER's East Tennant Project.

The purchase, which covers exploration licenses EL32109, EL32306, EL32307, EL32617, EL32760 and EL32809, will expand Middle Island's existing Barkly Super Project in the East Tennant region.

Commenting on the signing of the SPA, MDI Chief Executive Officer, Roland Bartsch said; 'The East Tennant region is highly prospective for the discovery of copper-gold, and lead-zincsilver, and SER has assembled a portfolio of high priority targets which demand drill testing. The proposed purchase of the East Tennant Project by MDI will expand the Barkly Super Project's already considerable land position and target list, and is an exciting addition to MDI's exposure to potential exploration success across the region.' 'This transaction is aligned with MDI's corporate strategy: to build value through exploration and consolidation of high-quality underexplored Greenfields projects with potential to deliver 'world class discoveries, adding value through efficiencies and growth of scientific understanding by focusing on a highly prospective region.'

Contact:

Tel: +61 (8) 9322 1430

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of Middle Island, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors

(C) 2023 Electronic News Publishing, source ENP Newswire