Victoria, British Columbia – 21 July 2025 – Southstone Minerals Limited (“Southstone”) or the “Company”) (TSXV: SML) announces that it has entered into Addendum 1 to the binding term sheet with Afrium Energy Pte. Ltd. (“Afrium”), originally signed February 13, 2025.
The Addendum, executed July 14, 2025, extends the End Date of the acquisition agreement by an additional 60 days to September 12, 2025. All other terms of the original agreement remain unchanged and in full force.
Southstone remains committed to advancing this strategic transaction while continuing to focus on its core operations at the Oena Diamond Mine.
ON BEHALF OF THE BOARD OF DIRECTORS OF SOUTHSTONE MINERALS LIMITED
Terry L. Tucker, P.Geo.
Executive Chairman
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Capitalized terms used herein that have not been defined have the same meanings ascribed in the policies of the TSX.V.
Forward Looking Statements Disclaimer
Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include statements relating to the Company’s proposed production timeline, and the Company’s plans for future production from the Oena Diamond Mine. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements included in this news release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.
Forward-looking statements regarding operational expectations are based on management’s assessment of current mining conditions, contractor performance, and geological characteristics of identified zones.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
A comprehensive discussion of risks and uncertainties that may affect Southstone can be found in its public filings available at http://www.sedarplus.ca.