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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/12/16 -- Southern Arc Minerals Inc. (TSX VENTURE:SA) ("Southern Arc" or the
"Company") today announced that the Company has entered into a Sale and Purchase Agreement to sell its share of the East Elang
Property to an Indonesian individual. Southern Arc has agreed to sell and transfer its shares in East Elang in exchange for
US$20,000 and a 3% net smelter returns royalty ("NSR") on all future sales or other disposition of all minerals production from the
property.
"Southern Arc has been unable to advance the East Elang Property as the result of repeated extensions to an Indonesian forestry
moratorium," said John Proust, Chairman and Chief Executive Officer of Southern Arc. "We have sold the East Elang Property to an
Indonesian individual with the intention and capacity to advance the project once the moratorium is lifted. Southern Arc's 3% NSR
will allow the Company and its shareholders to benefit should East Elang advance to production."
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Executive Chairman & Chief Executive Officer
About Southern Arc Minerals
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company
owns an interest in the West Lombok project in Indonesia, a resource-stage property with several gold-rich copper porphyry and
epithermal gold vein prospects. Southern Arc also holds an investment in Oban Mining Corporation, which is advancing the high-grade
Windfall Lake Gold Project in Quebec, Canada, and has applied for 80 prospecting rights licenses in Northern Japan in an area with
known gold occurrences and a history of mining. More information is available at www.southernarcminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains forward-looking statements relating to expected or anticipated future events and operations, timing
of projects and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and
uncertainties, such as Southern Arc's ability to complete the proposed sale of the East Elang property, uncertainty whether
Southern Arc will ever generate value from its East Elang NSR, general economic, market and business conditions, the regulatory
process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties
resulting from potential delays or changes in plans, the occurrence of unexpected events, and the company's capability to execute
and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors. There is no representation by the company that actual results achieved during
the forecast period will be the same in whole or in part as that forecast.
Contacts:
Southern Arc Contact:
Rhylin Bailie
Vice President, Communications & Investor Relations
604-609-6147
info@southernarcminerals.com
www.southernarcminerals.com
