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Mining Group Director Buys Shares On Market

Mining Group (ASX: MNE) non-executive director Colin Johnstone has increased his shareholding in the company on-market with the purchase of a further 250,000 shares.

Johnstone acquired the shares for $0.10 per share for a total consideration of $25,000.

He also picked up a further 294,415 shares at $0.10 each in Mining Group's recent pro-rata renounceable entitlement issue, taking his total shareholding to 544,415 shares.

Mining Group is set to deliver a maiden JORC Resource for the Tagpura and Maangob copper-gold skarns at its Comval copper-gold project in the Philippines in late October.

The company has previously defined an exploration target for Tagpura of 6 to 10 million tonnes at between 0.5% to 0.7% copper and 0.1 to 0.3 grams per tonne (g/t) gold.

Comval, which is strategically located just 70 kilometres from an existing port, is located at the site of a historical copper mine that produced on a commercial scale in the 1980s.

The project hosts three deposits known to host copper and gold bearing ore and Mining Group has recently discovered a fourth deposit, known as Bayag Bayag.

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