March 27 (Reuters) - Arc Exploration Ltd ARX.AX :
* EXECUTED A BINDING HEADS OF AGREEMENT TO ACQUIRE 100% OF ISSUED CAPITAL OF CYPRIUM AUSTRALIA PTY LTD
* CYPRIUM HAS AN OPTION TO EARN-IN AND JOINT VENTURE FOR AN 80% INTEREST IN CUE COPPER PROJECT FROM MUSGRAVE MINERALS
* CONSIDERATION FOR CYPRIUM IS, IN AGGREGATE 5.8 MILLION FULLY PAID ORDINARY SHARES IN ARX WITH AN ISSUE PRICE OF $0.20/SHARE