Cash utilisation during the June Quarter was constrained, reflecting reduced field activity due to travel and land access restrictions arising from the Corona pandemic.

The $150,000 share-based component for acquisition of the Windsor tenements emerged from escrow. The shares were transferred to a significant shareholder in an arrangement with the Administrators of the tenement vendor, ensuring no overhang in Minotaur's market.

Minotaur took advantage of high liquidity in Petratherm (ASX: PTR) and Thomson Resources (ASX: TMZ) to exit those registers. The Company retains 18.33 million shares in nickel explorer Auroch Minerals (ASX: AOU).

Contact:

Andrew Woskett

Tel: +61 8 8132 3400

Web: www.minotaurexploration.com.au

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