Landore Resources Ld - Completion of BAM Mineral Rights Acquisition

Landore Resources

25/04/2025 07:58

RNS Number : 2091G

Landore Resources Limited

25 April 2025

 

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.

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Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say on our Interactive Investor hub at:

Landore Resources Investor Hub

 

For further information, please contact:

Landore Resources Limited
Alexander Shaw (CEO)
or engage with the company directly:
contact@landore.com
https://investors.landore.com/s/051b30
Strand Hanson Limited (Nominated Adviser and Joint Broker)
James Dance/Matthew Chandler/Robert Collins
Tel: 020 7409 3494
Hannam & Partners (Joint Broker)
Andrew Chubb/Matt Hasson
Tel: 020 7907 8500
Burson Buchanan (Financial PR)
Bobby Morse/Oonagh Reidy
landore@buchanancomms.co.uk
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.

 

 

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