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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	GOT

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Groote Resources

Groote Resources (ASX: GOT) is a Perth-based exploration company which continues to actively search for new projects, both within Australia and offshore. Currently the company has two main projects, the Groote Eylandt Manganese project and the Mt Alexander Uranium Project.

Groote Resources holds exploration rights for six tenements covering 1,723 km2 of shallow marine terrain and two islands near Groote Eylandt in the Northern Territory of Australia. These tenements are located immediately adjacent to and contain the interpreted extensions of the world-class manganese deposits at Groote Eylandt.

The EL comprises 8,877 hectares of prospective ground in the Ashburton Mineral Field of Western Australia, approximately 10km south of Nanutarra. An assessment of this work has identified a number of conceptual uranium and basemetal targets and an exploration program is currently being produced by the team at Groote resources.

Groote Resources suspends listed company options

Tuesday, June 29, 2010

Western Australian-based exploration company Groote Resources (ASX: GOT) has reported that listed options in the company (ASX: GOTO) have now been suspended, effective 23 June 2010.

The listed options will expire at 5.00pm (WDST) on 30 June 2010. The exercise price is $0.20 per option and the closing price (GOT) is $0.77 per share (28 June 2010).

There are 79 outstanding holders and 6,499,77 outstanding options.

Option holders may elect to exercise their options prior to expiry to aquire fully paid ordinary shares or do nothing and allow the options to expire.

Option holders are under no obligation to exercise their options.

Simon Noon, executive director, said Groote Resources has entered into an underwriting agreement with Minc Stockbroking for the options that are not exercised. No fees or commissions are payable to Minc Stockbroking under the Agreement.

Groote has the potential to develop a large, surface mineable manganese deposit near Groote Eylandt in the Northern Territory.

The company has applied for prospective exploration licenses which contain the interpreted extensions of proven high-grade managanese resources owned by Groote Eylandt Mining Company Ltd (GEMCO).

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