Regulatory approval clears the way for Evolution IPO

Marvel Gold Limited has received approval from the Tanzanian Fair Competition Commission (FCC) for the spin-out of the Chilalo Graphite Project. Evolution Energy Minerals Limited (Evolution), a wholly-owned subsidiary of Marvel, will become the owner and operator of the Chilalo Project. This approval allows the initial public offer (IPO) of Evolution to proceed, and a prospectus inviting investors to subscribe for Evolution shares is expected to be lodged with the Australian Securities and Investments Commission. The Chilalo Project is located in southeastern Tanzania and hosts a high-grade mineral resource of 20.1Mt at 9.9% total graphitic carbon (TGC) for 1,991 Kt of contained graphite.