A Myanmar-focused Australian mining group backed by Financial Review Rich Lister Mark Creasy has struck a deal to exit the coup-stricken country through the sale of its historic Bawdwin mine.

The ASX-listed Myanmar Metals told the exchange on Tuesday it had signed a binding agreement to divest its 51 per cent stake in the Bawdwin project, located about 22 kilometres from Namtu in northern Shan State, an area of Myanmar that borders Thailand, Laos and China.