Clara Resources Australia Ltd agreed to acquire remaining 60% stake in Renison Coal Pty Ltd from Savannah Goldfields Limited for a consideration of AUD 4.1 million.

Clara Resources Australia Limited is an Australia-based exploration company involved in the exploration for coal, nickel and other commodities. The Company’s projects include Ashford Coking Coal Project and Kildanga Nickel & Cobalt Project. The Company owns 40% of the Ashford Coking Coal Project and also has an option to acquire the remaining 60% of the project. Ashford Coking Coal Project is located within exploration license tenements EL6234 and EL6428 in the Northern Tablelands of New South Wales (NSW), approximately 10 kilometers (km) north of the Ashford township and 65 km north of Inverell. Its Kildanga Nickel & Cobalt Project consists of four distinct areas.