Expansion into NT

  • On : October 28, 2010

Media Release

APPROVED FOR RELEASE

Key points:

  • Department of Resources, Northern Territory Government has granted Tellus Holdings five Exploration Licences covering 1,137km2.
  • Historical drilling and seismic shows two major salt bed formations.
  • Tellus to commence detailed feasibility studies.

Commenting on the achievement of this key milestone the Managing Director of the Tellus Group, Mr Duncan van der Merwe said: “We are delighted to be adding these valuable assets to the Tellus portfolio. Tellus’s strategy is to drive shareholder value through building an inventory of salt assets and commercialising the assets in a two pronged strategy. Namely the mining of the salt and if commercial quantities of salt hosted minerals such as potash are found then mining and processing of those minerals plus creating state-of-the-art salt mine or salt cavern storage facilities in the voids left from mining”.

About Tellus Holdings

Tellus Holdings Pty Ltd (“Tellus”) is an Australian-owned mining company adding value to underground rock salt. Tellus is the parent of a group of companies involved in the mining, processing and sale of industrial and edible salts, fertilisers and minerals. Potential complementary businesses include storage in voids created by mining and warehouse storage.

About GR Rockvault

GR Rockvault P/L (a 100% owned Tellus Holdings subsidiary) is storage company.

For further information contact:

Visit: www.tellusholdings.com.au or contact Duncan van der Merwe, Managing Director Tel: +61 29238 7631.