Sheffield Resources Limited advised that it has received $23 million in cash consideration from Image Resources NL (Image) following the
divestment of Eneabba Project exploration tenements. Following satisfaction of customary conditions, the Company has closed the initial $23 million tranche of its transaction with Image for the sale of its 100% owned Eneabba Project for total cash consideration of $24 million. A further $1 million is scheduled to be received by Sheffield upon the transfer of Eneabba Project mining tenements, which are subject to Foreign Investment Review Board (FIRB) approval and other customary conditions and expected to be completed in the forthcoming March quarter.