Perth, Australia--(Newsfile Corp. - May 6, 2024) - Golden Horse Minerals Limited (TSXV: GHML) ("Golden Horse" or the "Company") is pleased to announce that, further to its press releases dated August 1, 2023 and April 22, 2024, the Company has issued an aggregate of 7,206,758 common shares of the Company (the "Shares") in connection with certain of its previously announced tenement acquisitions within the Fraser Shear Zone, a prolific gold producing region of Western Australia near the town of Southern Cross.
On August 1, 2023, the Company announced that it had entered into a series of transactions to acquire further tenements to bolster its landholdings within the Yilgarn Mineral Field in Western Australia.
Southern Cross South Project
In respect of its acquisition of tenements P77/4593 and E77/2829 and the remaining 10% of E77/2691 not already owned by the Company, Golden Horse issued 2,982,107 Shares, being in addition to a A$90,000 cash payment previously made to the vendor and the issuance of the 2% gross smelter royalty described in the Company's August 1, 2023 press release. The Company has now satisfied all of its obligations under the purchase agreement in respect of such tenements.
Copperhead Project
In respect of its acquisition of the strategic Copperhead prospecting lease (P77/4357), located approximately 30km from the town of Bullfinch, Western Australia, Golden Horse issued 2,485,089 Shares, being in addition to a series of previously made cash payments totalling A$100,000. The Company has also provided a 1.5% gross smelter royalty, which is capped at A$800,000, over such tenement. The remaining material obligation under the purchase agreement is to pay A$200,000 cash upon the earlier of listing on the ASX or August 1, 2024.
Ennuin Package
In respect of its acquisition of the Ennuin Package, including tenements E77/2942, G77/123, L77/262, M77/450, P77/4629, P77/4630, and P77/4631, all located approximately 30km from the town of Bullfinch, Western Australia, the Company issued 1,739,562 Shares, being in addition to a series of previously made cash payments totalling A$150,000. The Company has also provided a 1.5% gross smelter royalty, which is capped at A$800,000, over such tenements. The remaining material obligation under the purchase agreement is to pay A$150,000 cash upon the earlier of listing on the ASX or August 1, 2024.
For and on behalf of the Board
For more information contact:
Graeme Sloan
Chairman / Interim CEO
Email: graeme.sloan@goldenhorseminerals.com.au
+61 8 9322 1788
Josh Conner
Chief Operating Officer
Email: josh.conner@goldenhorseminerals.com.au
+61 8 9322 1788
Media
David Tasker
Chapter One Advisors
Email: dtasker@chapteroneadvisors.com.au
+61 433 112 936
Investors
Adam Davey
Canaccord Genuity Financial Limited
Email: ADavey@cgf.com
+61 8 9225 2811
Mason Brown
Canaccord Genuity Financial Limited
Email: mpbrown@cgf.com
+61 8 9225 2862
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other things, statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These forward-looking statements are based on management's expectations and beliefs concerning future events. Forward-looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Golden Horse. Such forward-looking statements are based on numerous assumptions regarding the Golden Horse's present and future business strategies and the political and economic environment in which the Golden Horse will operate in the future, which are not guarantees or predictions of future performance. Actual results and developments may vary materially from those that may be contemplated or implied by forward-looking statements in this release.
Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All information in respect of Exploration Results and other technical information should be read in conjunction with Competent Person Statements in this release (where applicable). To the maximum extent permitted by law, Golden Horse and any of its related bodies corporate and affiliates and their officers, employees, agents, associates and advisers:
- disclaim any obligations or undertaking to release any updates or revisions to the information in this release to reflect any events, circumstances or change in expectations or assumptions after the date of this release;
- do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and
- disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208133
SOURCE: Golden Horse Minerals Limited
