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On 25 April 2025, Landore Resources Limited confirmed the completion of its subsidiary Landore Resources Canada, Inc.'s acquisition of additional mineral claims adjacent to its BAM Gold Project in Ontario, Canada. The transaction structure was amended to directly acquire the BAM Extensions from the vendor instead of the holding company 1491205 B.C. Ltd, with all other terms remaining unaltered.
| Date | 25 Apr 2025 |
| Time | 07:58:39 |
| Category | Acquisitions and alliances |
| ID | 2091G |
25 April 2025
Landore Resources Limited
Completion of Additional BAM Mineral Rights Acquisition
London, United Kingdom - 25 April 2025 - Landore Resources Limited (AIM: LND) ("Landore Resources" or the "Company"), is pleased to confirm completion of the acquisition by its subsidiary, Landore Resources Canada, Inc., of a series of additional mineral claims adjacent to its existing flagship BAM Gold Project area at its Junior Lake Property, Ontario, Canada, further to its announcement on 26 March 2025.
The Company further notes that, in order to maximise tax efficiency for the group, the transaction structure was slightly amended such that rather than acquiring the British Columbia based holding company, 1491205 B.C. Ltd ("149 Corp"), the BAM Extensions were instead acquired directly from the vendor.
All other terms of the acquisition remain unaltered.
Unless otherwise defined herein, all defined terms used in this announcement have the meanings ascribed to them in the Company's announcement of 26 March 2025.
- ENDS -
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For further information, please contact:
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Landore Resources Limited Alexander Shaw (CEO) or engage with the company directly: |
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Strand Hanson Limited (Nominated Adviser and Joint Broker) James Dance/Matthew Chandler/Robert Collins |
Tel: 020 7409 3494 |
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Hannam & Partners (Joint Broker) Andrew Chubb/Matt Hasson |
Tel: 020 7907 8500 |
|
Burson Buchanan (Financial PR) Bobby Morse/Oonagh Reidy |
Tel: 020 7466 5000 |
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About Landore Resources
Landore Resources (AIM: LND) is the 100% owner of the highly prospective BAM Gold Project, Northwestern Ontario, Canada, which has an NI 43-101 compliant resource estimate of 1.5m oz Au (Indicated: 1.03m oz from 30.96Mt @ 1.0g/t; Inferred: 467,000oz from 18.3M/t @ 0.8g/t). Ontario is Canada's largest gold producing province, and produced 3.9m oz, accounting for 41% of Canada's total gold production in 2023. Landore Resource's strategic objective is to crystallise value from BAM Gold's last estimated NPV of US$333.6m @ US$1,800/oz spot (from the May 2022 PEA), as well as generating additional value from its non-core portfolio of precious and battery metals projects in eastern Canada and the USA.