On 27 May 2010, Eagle Nickel entered into a Heads of Agreement with Golden Century Mining Ltd whereby Eagle Nickel can acquire 4 exploration tenements regarded as prospective for phosphate subject to and conditional upon the approval of Eagle Nickel shareholders. The consideration to be provided by Eagle Nickel is 10 million shares in Eagle Nickel and 10 million options exercisable at 20 cents on or before 1 May 2015.

The Phosphate Project group of tenements covering a total of approximately 1,188km2 is comprised of 4 exploration licence applications; Wandagee (E09/1756) & Winning (E08/2120) approximately 150km and 200km northeast of Carnarvon respectively, Langley Crossing (E04/2022) approximately 40km south of Derby and Pillawarra Hill (E70/3847) approximately 20km north of Kalbarri.