Musgrave Minerals Ltd (ASX:MGV) Evolution Satisfies Earn-in Milestone

Musgrave Minerals Ltd (ASX:MGV) (FRA:6MU) (OTCMKTS:MGVMF) is pleased to report that Evolution Mining Limited (ASX:EVN) has satisfied the earn-in requirement under the Cue Project Earn-in and Exploration Joint Venture Agreement (Cue JV) to earn a 75% interest in the Cue JV in Western Australia's Murchison district.

The Cue JV is primarily focused on Lake Austin which lies to the north of the Company's 100% owned Mineral Resources at Cue (Lena, Break of Day, White Heat-Mosaic and Big Sky deposits, and the Mainland option area - Figure 1*).

As Evolution has met the A$18M expenditure requirement to complete the earn-in, an unincorporated joint venture is now formed and a joint venture committee will be established.

Musgrave has the right to contribute to ongoing exploration costs on a pro-rata basis to maintain its 25% interest following approval of a proposed exploration program and budget, or can elect to dilute.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5CMXY9BZ

Rob Waugh
Managing Director
Musgrave Minerals Limited
+61 8 9324 1061

Angela East 
Associate Director
Media and Capital Partners
+61 428 432 025