Golden Rapture Mining has agreed to acquire complete interest in four mineral claim cells located about 500m south of the proposed Goliath Project open pit operated by NexGold Mining, approximately 20km east of Dryden, Ontario, Canada.
The agreement is signed with 1544230 Ontario and Gravel Ridge Resources.
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Described as the South of Goliath ground, the claims are accessible via existing roads and are served by regional infrastructure.
The acquisition will expand its land holdings as a key gold exploration district in northwestern Ontario.
Under the terms of the agreement, Golden Rapture will pay C$600 ($430.23) in cash and issue 200,000 shares to the sellers in exchange for full ownership of the South of Goliath Property.
The sellers will maintain a 1.5% net smelter return royalty (NSR) on any gold or mineable products produced.
Completion of the transaction is subject to approval from the Canadian Securities Exchange.
NexGold Mining has reported that the Goliath Gold Project contains proven reserves of 210,000 ounces (oz) of gold and 731,000oz of silver.
In addition, the project is said to have probable reserves of 1.1moz of gold and 993,000oz of silver.
Mineral resources for the project are reported as measured and indicated at 2.1moz of gold, with a further 0.8moz classified as inferred resources.
The Goliath Gold Project comprises plans for both open-pit and underground mining, along with milling facilities and a tailings storage area.
In 2019, the project received Federal Environmental Assessment Approval after the Minister of Environment and Climate Change Canada determined it was unlikely to cause significant environmental harm.
NexGold is currently seeking further permits and authorisations needed for the construction and operation of the mine and mill.
In March 2026, NexGold initiated a 30,000m reverse circulation (RC) infill drilling programme at the Goldboro Gold Project in Nova Scotia, Canada.
