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Highlights
- Australian Mines may earn up to 80% of Boa Vista through staged cash, equity, and exploration
- Initial terms include CAD55,000 cash and shares valued at AUD1 million
- GoldMining retains 20% interest if full option is exercised
GoldMining Inc. (TSX: GOLD | NYSE American: GLDG) has signed a binding term sheet allowing Australian Mines Limited (ASX: AUZ) to earn up to an 80 percent interest in the Boa Vista Project in Pará State, Brazil. The total consideration across the staged agreement includes up to CAD7 million in cash and equity.
GoldMining is a public mineral exploration company with a portfolio of resource-stage gold and gold-copper projects across the Americas. Its assets span Canada, the U.S., Brazil, Colombia, and Peru. The company also holds equity positions in Gold Royalty Corp., U.S. GoldMining Inc., and NevGold Corp.
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