ASX – Ardea & Australian Jade Mining Limited

Ardea has signed a binding Terms Sheet with Australian Jade Mining Limited (AJML) that will realise over $5 million value from non-core assets.

o   $200,000 up-front payment received

o   $800,000 payment on transfer of tenements

o   $1 million within one year of execution

o   $3 million of AJML shares in IPO or cash payout

o   Ongoing 2% royalty on AJML’s gross sales

·         AJML intends to commence chrysoprase mining as soon as possible, and aims to become Australia’s premiere chrysoprase supplier into the Chinese jewellery market

·         AJML will be offered first right of refusal to purchase other chrysoprase deposits discovered by Ardea at commercial rates

·         Chrysoprase is commonly known as ‘Australian jade’ in China where increased demand for the semiprecious gem is to be met by AJML through its relationships in the high-end Chinese jewellery industry

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