Silkroad Nickel Signs Mining Exploration And Contractor Agreement With Sinohydro



SGX-Catalist listed Silkroad Nickel Ltd, an Indonesian nickel mining group, is pleased to announce that its subsidiary, PT Teknik Alum Service has entered into a new long-term mining exploration agreement with Sinohydro Corporation Ltd and PT Sepco II Indo, and together with Sinohydro, collectively known as the mining contractor on 5 January 2019. The agreement provides for, inter alia, the following:

• the agreement is for a period of five years from the commencement date, which refers to the date when the group issues the notice to proceed;

• the Group is responsible for, inter alia, (i) completing all land acquisition related matters; (ii) applying and obtaining all necessary licenses and permits; and (iii)

providing the mining contractor with the necessary data of the mining area;