MetalNRG Plc - Completion of the Acquisition of the Gold Ridge Project

PR Newswire

London, November 5

5^th November 2018

MetalNRG PLC

(The "Company" or “MetalNRG”)

COMPLETION OF THE ACQUISITION OF THE GOLD RIDGE PROJECT

MetalNRG PLC (NEX:MNRG), the natural resource investing company quoted on the NEX Exchange Growth Market in London, is pleased to announce that it has completed the acquisition of the Gold Ridge Project in Arizona, U.S.A, which includes three historically producing gold mines, from Winston Gold Corporation (“Winston Gold” CSE:WGC) by making the final consideration payment, to be satisfied in MetalNRG shares  at 1.75 pence per share, as per our previous announcement on 25th July 2018.

Highlights:

• MetalNRG has now acquired all the interests of Winston Gold in the project known as Gold Ridge Project (“Gold Ridge” or the “Project”), located in the Dos Cabezas Mining District, Cochise County, south-eastern Arizona, United States of America;

• The Project consists of approximately 2,305 acres (9.3km²) of tenement including 343 acres of patented mining claims, 112 company-owned un-patented mining claims; and 12 leased un-patented mining claims;

• The interests acquired include three historical producing gold mines; Gold Prince mine; Gold Ridge mine and Dives mine; each was worked over various intervals between discovery in 1877 and 1996;

• Project has a NI43-101 compliant Technical Report dated 30th December 2016;

• Lack of modern exploration coverage and the existence of at least three high grade gold deposits within the Project’s 5.2km of shear zone strike, results in strong potential for the discovery of further gold mineralisation and for establishing compliant Resources.

• MetalNRG agreed to acquire 100% of Gold Ridge for a total consideration, in cash and shares, of US$700,000 (approximately GBP £530,000).

• Arizona is a mining friendly jurisdiction with an established permitting framework. Fraser Institute 2017 Investment Attractiveness Index ranked Arizona 2^ndby US State (after Nevada) and 9^th/ 91 globally.

  Rolf Gerritsen Chief Executive Officer of MetalNRG PLC commented:

  "I am delighted to announce the completion of this transaction which is the Company’s first major acquisition. The acquisition of Gold Ridge in Arizona comes at a time when there is an increasing interest in gold production opportunities.

  With the Gold Ridge transaction we acquire significant acreage, a range of mining claims and three former producing mines in one package and we look forward to developing the Project and looking at the opportunity to bring the mines back into production.

  I expect further updates will be released to market in the near term on the advancement of Gold Ridge and any further developments on our previously announced Uranium acquisition along with other market updates."

  Gold Ridge Acquisition Terms:

  As per the announcement of 25 July 2018, the total consideration for the acquisition of Gold Ridge is US$700,000 (approximately GBP 530,000) comprising US$200,000 in cash, that has been paid, and with completion the issue of MetalNRG ordinary shares with a value of US$500,000 (approximately GBP 384,000), at a price of 1.75 pence per share for 21,942,576 MetalNRG ordinary shares.

  The Directors of the Company accept responsibility for the contents of this announcement.

  Rolf Gerritsen, Chief Executive Officer of MetalNRG PLC arranged for the release of this announcement. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

  The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist who acts as Competent Person. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by MetalNRG PLC to provide technical support.

  The 21,942,576 new MetalNRG Ordinary Shares are expected to be admitted to trading on NEX Exchange Growth Market on or around 6^th November 2018.

  Following the issue of the new MetalNRG Ordinary Shares, the Company has 187,018,980 ordinary shares in issue, each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.  The total number of voting rights in the Company is therefore 187,018,980.

  The Directors of the Company accept responsibility for the contents of this announcement.

  Contact details:

MetalNRG PLC Rolf Gerritsen (Chief Executive Officer)	+44 (0) 20 7796 9060
NEX Exchange Corporate Adviser PETERHOUSE CAPITAL LIMITED Guy Miller/Mark Anwyl	+44 (0) 20 7469 0930
Corporate Broker SI CAPITAL Nick Emerson	+44 (0) 1483 413500