Ann: MRG to Acquire High Potential HMS Projects in Mozambique, page-2

"MRG TO ACQUIRE HIGH POTENTIAL HEAVY MINERAL SANDS PROJECTS IN MOZAMBIQUE • MRG has entered into a binding Heads of Agreement (“HoA”) to acquire three high potential Heavy Mineral Sands (“HMS”) Projects held by Sofala Resources Pty Ltd (“Sofala”). • Upon completion of a successful 30 day exclusive due diligence period and MRG Shareholder approval, the acquisition will provide MRG with a pipeline of permitted exploration projects in a World class HMS province, Southern Mozambique. • Previous wide spaced drilling underpins the prospectivity of the Projects and the potential for rapid estimation of a mineral resource. • Titanium and zircon prices remain firm as demand continues to expand. • Capital raising of $600K completed at $0.01 per MRQ share with an attached 1 for 2 MRQOB option. This raising was oversubscribed.

MRG Chairman, Andrew Van Der Zwan commented “The Company is pleased to announce that it has entered into a binding HoA to acquire these highly prospective Projects in a world class HMS mineral province. MRG has reviewed more than 70 projects in pursuit of a Company making project and this acquisition has the potential to meet this objective. The Projects have enormous scale potential and the acquisition price is based on significant project enhancing milestones, ensuring all Shareholders will benefit from further successful drilling and project development”"