Closing of the acquisition of the CentroGold project in Brazil Potential Gurupi Gold Belt from BHP
CentroGold contains 1.7 million ounces of indicated gold and 0.6 million ounces of JORC compliant gold resource that is open to expansion in all directions and at depth
The district-wide land package consists of 47 dwellings covering approximately 1,900 square kilometers and offers the potential for multiple new discoveries
The cumulative transaction adds to your GMIN project pipeline at no upfront cost
hiring Vincent BenoitManaging Partner and Chief Investment Officer of La Mancha, to its Board of Directors
Broussard, QC, December 20, 2024 /PRNewswire/ – G Mining Projects Company (“Ji Min“or”institution(“) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce the acquisition of properties in the Gurupi Gold Belt from wholly-owned subsidiaries of BHP Group Limited (“”)BHP(“) (ASX: BHP, NYSE: BHP, LSE: BHP, JSE: BHG) has been closed. The acquisition gives GMIN a 100% stake in the properties, including the CentroGold project (“Centregold“or”projectIn consideration for the acquisition, GMIN will grant BHP a 1.0% NSR royalty on the first 1 million ounces of gold produced at the tenements and a 1.5% NSR royalty on gold production thereafter (“).practicalDetails of the project and transaction were previously announced at GMIN’s Dated press release September 9, 2024.
G Mining Ventures logo (CNW Group/G Mining Ventures Corp)
CentroGold is located in the northern state of Maranhão BrazilIt includes 47 residences with an area of about 1,900 square kilometers. The project hosts several identified gold targets along an 80km+ mineralization trend, including the Blanket, Contact and Chega Tudo open pit deposits, which currently host 2.3 million ounces of JORC compliant gold resources and remain open for expansion. in July 2019Oz Minerals Limited, which was later acquired by BHP in 2023, released a preliminary feasibility study on blanket and contact deposits. The pre-feasibility study envisioned a 10-year mine life with average annual gold production of 100,000 to 120,000 ounces per year, with 190,000 to 210,000 ounces of gold per year in the first two years of production.
GMIN plans to update the project’s JORC-compliant gold resources to meet National Instrument 43-101 – Disclosure Standards for Mineral Projects (“NE 43-101“) in the first quarter of 2025.
Appointment of the Board of Directors
The Foundation is pleased to announce the appointment Vincent BenoitManaging Partner and Chief Investment Officer of La Mancha Capital Advisory LLP (“No matter what“), to its Board of Directors, effective December 20, 2024. The GMIN Board of Directors now consists of 11 members.
Vincent Benoit He has over 30 years of experience in corporate finance, business development and mergers and acquisitions in the mining, telecommunications and energy sectors. Vincent identified the opportunity to acquire La Mancha and joined the company as Head of Strategy and Business Development in 2012. Between 2013 and 2015, he led the restructuring of the La Mancha portfolio and contributed to strengthening the performance of its mines in Australia and Africa. Mr Benoit identified and executed the mergers with Evolution Mining Limited (ASX:EVN) and Endeavor Mining plc (TSX:EDV) (“Strive“), making La Mancha a leading private investor in the gold mining sector. From 2016 to 2019, Mr. Benoit served as CFO and Executive Vice President of Corporate Development at StriveHe reshaped the strategy, improved the quality of the mine portfolio and strengthened the balance sheet to fund organic growth. Endeavor The market capitalization had quadrupled by the time he left at the end of 2019. In early 2020, he rejoined La Mancha to oversee investments and fundraising.
Previously, Vincent worked at Orange (2006-2012), where he served as Executive Vice President of Mergers and Acquisitions. He led the development of the group’s footprint Africa and Europe It has formed strategic partnerships with major European telecommunications companies. Prior to this, Vincent held various financial positions, including those at Orano (formerly Areva), Bull Information Systems, and PwC.
Vincent holds a Master’s degree from KEDGE Business School and is a Chartered Accountant.
About G Mining Ventures Corp
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metals projects to capitalize on increased value resulting from successful mine development. GMIN is well positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development experience. GMIN is currently anchored by the Tocantinzinho gold mine in Brazil And the Oko West project in Guyanaboth mining friendly and potential jurisdictions.
Additional information For more information about GMIN, please visit the website at www.gmin.gold.
Cautionary statement regarding forward-looking information
All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. He releases. Forward-looking statements contained in this press release include, but are not limited to, those relating to (1); that CentroGold’s gold resource remains open to expansion in all directions and in depth; (2) an acquired land package that offers the potential for multiple new discoveries; (3) the transaction is accretive to GMIN’s project plan; (4) Project life and production life of 10 years, as projected in the pre-feasibility study; (v) GMIN’s plan to update the project’s JORC-compliant gold resources to meet NI 43-101 requirements; and (6) More generally, Mr. Benoit’s future contribution in his capacity as a Director of GMIN as well as the section entitled “About G Mining Ventures Corp.”.
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based on a number of estimates and assumptions that, although considered reasonable by the Company as of the time such statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may turn out to be incorrect. This is amazing Assumptions include, but are not limited to, those relating to the price of gold and currency exchange rates, those described in the PEA and those underlying the items listed in the section above entitled “About G Mining Ventures Corp.”
Many of these uncertainties and contingencies could directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied by any forward-looking statements. There can be no assurance that (i) GMIN will achieve its stated objectives for the project, in particular but not limited to, or (ii) The project will prove accretive to the GMIN project pipeline, or (3) 2.3 million ounces of JORC-compliant gold resources will meet NI 43-101 requirements, or (4) the project’s existing resources will be expanded in all directions and at depth, and (5) the project will have a life of 10 years. years or it will be mined at all, or (6) it will be GMINUse TZ and OK West To grow into the next intermediate product, as future events may differ materially from what the organization currently expects. In addition, there can be no guarantee for this Brazil wow Guyana They will remain mining-friendly and potential jurisdictions.
By their nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that estimates, forecasts, forecasts and other forward-looking statements will not be achieved or that assumptions will not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans regarding the future. Readers are cautioned not to place undue reliance on such forward-looking statements because a number of important risk factors and future events could cause actual results to differ materially from the beliefs, plans, objectives, expectations, projections, estimates, assumptions and intentions expressed in such forward-looking statements. All forward-looking statements contained in this press release are qualified by these cautionary statements and those contained in the Company’s other filings with securities regulators in Canada Including, but not limited to, the cautionary statements contained in the relevant sections of (1) G Mining TZ Corp Annual Information Form. (then known as G Mining Ventures Corp.) dated March 27, 2024for the ending fiscal year December 31, 2023(2) Golden Reunion Annual Information Form dated April 25, 2024for the ending fiscal year December 31, 2023and (iii)The Company’s Annual Information Form (i) is dated March 27, 2024for the ending fiscal year December 31, 2023and (2) management discussion and analysis. The Foundation cautions that the previous list of factors that may affect future results is not comprehensive, and new, unexpected risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
