Core Points - Pacific Nickel Mines (PNM) subsidiary Pacific Nickel International (PNI) has agreed to sell 100% of its shares in the Kolosori nickel project to Green Rock under a share sale and purchase agreement (SPA) [1] - The Kolosori nickel project is located on Isabel Island and is a direct shipping ore nickel laterite project [1] - PNM holds an 80% stake in Pacific Nickel Mines Kolosori (PNMK), which is the owner and operator of the Kolosori nickel project [1] Financial and Legal Aspects - GRP & Associates has agreed to guarantee the buyer's obligations under the SPA [2] - A significant aspect of the transaction is the Glencore deed of release, which releases PNM from all liabilities under the Glencore secured facility agreement, currently guaranteeing $22 million (A$33.85 million) plus approximately $8.6 million in accrued interest [2][3] - The deed of release will become effective upon completion of the SPA and is a condition precedent to closing the transaction [3] Operational Context - PNM previously announced the cessation of operations at the Kolosori project due to operational challenges and a weak nickel price outlook in the short to medium term [5] - The PNM board concluded that entering into the SPA for the sale of the Kolosori nickel project is in the best interests of the company [5] Royalty Agreement - PNI has entered into a royalty agreement with Green Rock, entitling Pacific Nickel to a 1% royalty on nickel ore shipped from the Kolosori nickel project, contingent on monthly shipments exceeding 170,000 tonnes and the benchmark price on the Shanghai Metals Market averaging above $72 per tonne [4]

Core Viewpoint - Condor Resources Inc. has signed a Letter of Intent to sell its Soledad project for $3 million over three years, which will support drilling activities at Huiñac Punta [1][2]. Group 1: Sale of Soledad Project - The sale of the Soledad project will generate $3 million over a three-year period, including an upfront payment to facilitate drilling [1][2]. - The Soledad project contains nearly 2% copper equivalent in lens-type formations and breccia pipes, making it an attractive asset for the buyer [3]. Group 2: Focus on Other Projects - The funds from the sale will allow the company to advance its other projects, specifically Huiñac Punta and Pucamayo [2][4]. - Huiñac Punta is fully permitted, and the company plans to use the proceeds from the sale to initiate drilling activities there [4]. - Pucamayo is awaiting approval for its high-sulfidation epithermal gold target, with ongoing efforts to expedite the process [4]. Group 3: Future Outlook - The company anticipates an exciting few months ahead, with expected developments from Teck Resources Ltd regarding Cobreorco, alongside news from its own projects [4].