Xanadu Mines (ASX:XAM) has withdrawn the resolution to approve the exercise of a 25% put option related to its joint venture with Zijin Mining Group at the upcoming extraordinary general meeting on 11 April, according to a Monday filing with the Australian bourse.

The withdrawal follows a deed of variation between the two companies, extending the put option's term by at least 30 days. The matter relates to the proposed disposal of Xanadu Mine's 25% stake at Khuiten Metals, the filing said.

This extension allows for continued discussions on potential corporate transactions, the filing added.

The parties have also entered into an exclusivity agreement, providing Zijin with negotiation rights, the company said.

Shareholders are not required to take any action at this time, the company added.

Shares of the company rose 5% in recent Monday trade.