Completion of the Acquisition of the Gold Ridge Project

5th November 2018


(The "Company" or “MetalNRG”)


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.


-- 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 

-- 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 2ndby US State (after Nevada) and 9th/ 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 

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 6th 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:

Rolf Gerritsen (Chief Executive Officer) +44 (0) 20 7796 9060

NEX Exchange Corporate Adviser 
Guy Miller/Mark Anwyl +44 (0) 20 7469 0930

Corporate Broker 
Nick Emerson +44 (0) 1483 413500

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