Musgrave Minerals Ltd: Target's Statement and ASIC Relief - Ramelius Offer

Perth, Australia - Musgrave Minerals Ltd. (ASX:MGV) (FRA:6MU) (OTCMKTS:MGVMF) refers to the off-market takeover offer from Ramelius Resources Ltd. (Ramelius) to acquire all of the fully paid ordinary shares in Musgrave (Musgrave Shares) that it does not own for 1 share in Ramelius for every 4.21 Musgrave Shares held and $0.04 cents in cash for every Musgrave share held (Ramelius Offer).

Detailed reasons for the Musgrave Director's recommendation that shareholders ACCEPT the Ramelius Offer, in the absence of a superior proposal, will be set out in Musgrave's Target Statement. The Target's Statement will be made available on ASX and on Musgrave's website once lodged.

Musgrave advises that the Australian Securities and Investments Commission (ASIC) has granted Musgrave relief so that, instead of receiving a hard copy of the Target's Statement:

- Musgrave shareholders who have nominated an electronic address for the purpose of receiving electronic copies of shareholder communications will receive an email with a link to an electronic copy of the Target's Statement; and

- Musgrave shareholders who have not nominated an electronic address for the purpose of receiving electronic copies of shareholder communications will receive a letter from Musgrave to their registered postal address, which will contain details of a link to an electronic copy of the Target's Statement.

Musgrave shareholders may also request a hard copy of the Target's Statement by contacting Musgrave's Shareholder Information Helpline on 1300 918 438 (from within Australia) or +61 3 9415 4634 (from overseas), Monday to Friday between 8:30am and 5:00pm (AEST) or the Company Secretary on +61 08 9324 1061 or by email: info@musgraveminerals.com.au.

ASIC has advised that the fact that it has granted relief in connection with the Ramelius Offer should not be taken as a reflection of ASIC's views on any other aspect of the Ramelius Offer.

About Musgrave Minerals Ltd:

Musgrave Minerals Ltd. (ASX:MGV) is an active Australian gold and base metals explorer. The Cue Project in the Murchison region of Western Australia is an advanced gold and copper project. Musgrave has had significant exploration success at Cue with the ongoing focus on increasing the gold and copper resources through discovery and extensional drilling to underpin studies that will demonstrate a viable path to development in the near term. Musgrave also holds a large exploration tenement package in the Ni-Cu-Co prospective Musgrave Province in South Australia.

Source:
Musgrave Minerals Ltd.

Contact:

Rob Waugh Managing Director Musgrave Minerals Ltd. +61 8 9324 1061 Angela East Associate Director Media and Capital Partners +61 428 432 025