Completion of Acquisition of Mulgabbie and Patricia Gold Projects
Completion of Acquisition of Mulgabbie and Patricia Gold Projects
Perth, Nov 2, 2020 AEST (ABN Newswire) - OzAurum Resources Limited is pleased to announce that on 27 October 2020 its wholly owned subsidiary, OzAurum Mines Pty Ltd (OzAurum Mines), completed the acquisition of a 100% interest in the tenements and applications that comprise the Mulgabbie and Patricia gold projects in the eastern goldfields of Western Australia (Tenements) under a series of option agreements.

OzAurum Resources was able to successfully renegotiate the terms of the original option agreements so that, instead of acquiring an 80% interest in the Tenements, OzAurum Mines has acquired a 100% interest in the Tenements, giving it full control over the tenements.

The Company is the 100% owner of two long-held gold projects, Mulgabbie North and the Patricia Deposit, adjacent Saracen's (ASX:SAR) Carosue Dam gold mine, and in a region more than 100 km north-east of Kalgoorlie- famous for greenfields exploration.

Other Notable Explorers in the Area include:
St Barbara (ASX:SBM)
Breaker Resources (ASX:BRB)
Apollo Consolidate (ASX:AOP)

Under the revised option agreements, OzAurum Resources:

- paid $250,000; and

- issued 6,500,000 fully paid ordinary shares (Consideration Shares) to the Tenement holders (Tenement Holders), in consideration for the remaining 20% of the tenements.

Following the issue of the Consideration Shares, the Tenement Holders now collectively hold 46,500,000 ordinary shares in the capital of OzAurum Resources, which equates to 69.9% of the total shares currently on issue.

In addition, the Company has signed a mandate with Canaccord Genuity Group Inc to lead manage the proposed Initial Public Offer of shares on the ASX. The acquisition of a 100% interest in the Mulgabbie and Patricia gold projects represents a significant milestone for the Company as it heads towards a potential listing on the Australian Stock Exchange (ASX).

See link to copy of AFR article released on Friday 30/10/2020:

About OzAurum Resources Limited

Ozaurum Resources OzAurum Resources Ltd (ASX:OZM) is a Western Australian gold explorer with two advanced gold projects located 130 km north east of Kalgoorlie. The Company's main objective is to make a significant gold discovery that can be brought to production.



Ozaurum Resources Pty. Limited
Martin Holland

Related Companies

St Barbara Limited        
Saracen Mineral Holdings Limited      
OzAurum Resources Limited
Breaker Resources Nl
Apollo Consolidated Limited

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