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All Star Minerals Plc (ASMO)

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Wednesday 12 July, 2017

All Star Minerals Plc

Quarterly Update

ALL STAR MINERALS PLC
("All Star" or "the Company")

Quarterly Update

The board of All Star provides its quarterly update.

Investment Opportunities

Since the last quarterly update on 25 April 2017, the board has continued to review a number of potential opportunities for the Company. Whilst at this time there can be no guarantee as to the outcome of these opportunities, the board is focused on securing a suitable transaction that would allow All Star to move in a new direction.

Holding in NQ Minerals Plc

The board notes the further progress of NQ Minerals plc (“NQ”) in the second quarter of 2017, which has been largely positive. NQ raised £1,139,140 through the issue of new ordinary shares, secured an additional short term loan for Au$6.5m and launched the largest debt financing since the Hellyer Gold Mine acquisition was announced and completed during the second quarter.

Further to the Au$6.5m short term loan, NQ announced on 26 June 2017 that it was seeking to raise up to £25m through the issuance of 12% coupon secured bonds that have a 5 year maturity. The capital to be raised would be utilised on refinancing of existing debt, the refurbishment of plant to enable production to commence and for general working capital purposes.

On 23 May 2017 NQ announced the appointment of Colin Sutherland as the new CFO. Colin Sutherland is the former CEO of AIM listed Archipelago Resources Plc, which he took private and continued to deliver significant returns for its shareholder. More recently, he was president of McEwen Mining, which was focused on the Americas and during his tenure he helped grow its market cap from $300 to over $1.4 billion.

This appointment further strengthens the board of the Company and provides additional transparency on the Company’s objective of creating new mining operations and near term production. The taking on of significant amounts of debt is a sign that the board is confident of achieving production within the near term.

The Directors of All Star are responsible for the contents of this announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

ENQUIRIES:

All Star Minerals Plc
Tomas Nugent, Chairman
07963-455663

NEX Corporate Adviser
Cairn Financial Advisers LLP
Liam Murray
020 7213 0880


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