Beacon Minerals (ASX:BCN) said its Beacon Mining unit entered a conditional agreement with Forrestania Resources (ASX:FRS) to sell the Mt Dimer tenements in Western Australia for AU$50,000, according to a Wednesday filing with the Australian bourse.

Upon completion, Beacon Mining may also receive AU$150,000 for the grant of a pre-emptive right for Forrestania to acquire specific tenements the company proposes to sell, the filing said. It expects to complete the deal five days after meeting all the required conditions.

The proceeds from the sale will be used for working capital commitments, the company said.