Deals this week: Caribou King Resources, Entrée Gold, Brazil Resources

23 July 2015 (Last Updated July 23rd, 2015 18:30)

Caribou King Resources has signed an agreement to acquire Micron Investments, which holds an option to acquire 63% of the Aukam Mine.

Caribou King Resources has signed an agreement to acquire Micron Investments, which holds an option to acquire 63% of the Aukam Mine in South Africa.

The mine is located on 125,000 acres in southern Namibia's Karas Region, within the Betaine district in north of South Africa.

Under the terms of the deal, Caribou will issue 3.5 million shares to arms-length vendors and spend up to $1.1m over a period of eighteen months.

Entrée Gold has signed a letter of intent with Candente Copper to acquire a 0.5% net smelter returns royalty on Candente's 100%-owned Cañariaco project located in Peru.

The Cañariaco project includes the Cañariaco Norte copper-gold-silver deposit, in addition to the adjacent Cañariaco Sur and Quebrada Verde prospects.

Cañariaco Norte, Cañariaco Sur and Quebrada Verde all lie within a prolific trend of producing mines and known deposits.

Brazil Resources has signed an agreement to acquire 100% of the Whistler gold-copper project from Kiska Metals.

The company will also acquire certain related assets in south-central Alaska.

The Whistler project includes 304 Alaska State Mineral Claims, a 50-person all season exploration camp, airstrip and assorted equipment.

Gowest Gold has signed an agreement with Crown Mining to acquire a 100% interest in four patented claims totalling 64ha in Whitney Township located near Timmins, Ontario.

Adjoining the north and northwest boundary of the Hallnor property, the claims lie about one kilometre northwest of the Hallnor Gold Mine.

The Hallnor Gold Mine has grading of 0.41oz per tonne for 4.2 million.

ExGen Resources together with Konnex Resources has signed an option agreement with Phoenix Global Mining to earn an 80% interest in the Empire Mine project.

Phoenix will also buy 80% of Konnex, ExGen's subsidiary that holds the leases to the Empire Mine project.

Upon signing of the option, ExGen was paid a cash payment of $50,000.