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Nyrstar receives approval to acquire 19.9% stake in Ironbark

Posted on: Mon, 30 Nov 2009 10:26:00 EST

Symbols: NYRSF

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Nov 30, 2009 (M2 EQUITYBITES via COMTEX) --
NYRSF | Quote | Chart | News | PowerRating -- Belgian metals producer Nyrstar NV (Euronext Brussels:NYR) said on
Thursday that it has obtained approval from the shareholders of
Australian mining company Ironbark (ASX:IBG) to increase its stake in
the company to 19.9%.

Nyrstar acquired a stake of 13% in Ironbark in October as a first
tranche of shares under an agreement to acquire a total of 19.9% for
EUR3.5m.

Ironbark owns the Citronen zinc-lead project in Northern Greenland
which the company believes represents one of the world's largest
undeveloped zinc resources.

As part of the acquisition agreement Nyrstar will also acquire rights
on 35% of the production of the Citronen zinc-lead deposit once
commercial production commences, which is expected to be within three
to five years.

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