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WIN Metals has entered into a binding term sheet with Auric Mining (ASX:AWJ) for the partial sale of nickel and lithium rights.

The agreement will yield a minimum of $1.2 million over the next 12 months and includes the divestment of rights down to 150m below the surface on the M15/87 tenement.

WIN Metals has received a $100,000 deposit, with additional payments scheduled, including $600,000 at settlement, $300,000 by Dec.1, and $200,000 by June 1, 2025.

Ongoing access fees for water usage have also been agreed upon.

The transaction aligns with WIN's strategy to realise short-term value and concentrate on its core Mt Edwards Project.

"Our Munda nickel resource doesn't feature in the short to medium term horizon for development," said WIN Metals Managing Director and CEO, Steve Norregaard.

WIN Metals (ASX:WIN) inks deal with Auric Mining for sale of nickel, lithium rights