Deals this week: Orex Minerals, Brazil Resources, African Queen Mines

6 August 2015 (Last Updated August 6th, 2015 18:30)

Orex Minerals has signed an agreement to transfer its 45% interest in the Barsele Gold project in Sweden to its wholly-owned subsidiary Barsele Minerals.

Orex Minerals has signed an agreement to transfer its 45% interest in the Barsele Gold project in Sweden to its wholly-owned subsidiary Barsele Minerals.

The company will also transfer $500,000 in cash and all of its right, title and interest in and to, and all of its benefits and obligations under, the previous joint venture agreement among Orex, Agnico Eagle Sweden and certain other parties, in exchange for common shares of Barsele.

Upon completion of the transaction, Orex shareholders will maintain their interest in the company and will obtain a proportionate interest in Barsele.

Brazil Resources has completed the previously announced acquisition of 100% of the Whistler gold-copper project and certain related assets in south-central Alaska from Kiska Metals.

"Brazil Resources has completed the previously announced acquisition of 100% of the Whistler gold-copper project and certain related assets in south-central Alaska from Kiska Metals."

Under the asset purchase agreement, between the company, Kiska and their wholly owned subsidiaries dated 20 July 2015, Brazil Resources indirectly acquired a 100% interest in the project.

The other assets acquired from Kiska include an exploration camp, airstrip and certain equipment.

African Queen Mines has executed an agreement with Athabasca to acquire the Yellowjacket Gold project in British Columbia.

The project includes all mineral rights, claims and leases and encompasses 23 mineral claims and leases covering an area of about 55km² located 9km East of Atlin, BC.

In June 2015 the company announced signing a binding letter of intent with respect to this project.

Red Eagle Mining has extended the deadline of its share exchange takeover bid to acquire all of the issued and outstanding common shares of CB Gold to 31 August 2015.

The offer is for all of the issued and outstanding shares of CB Gold and is subject to certain customary conditions.

The offer will not be subject to the approval of Red Eagle Mining's shareholders and to any financing or due diligence conditions.

Chile-focused mineral exploration company Herencia Resources has entered into a non-binding memorandum of understanding (MoU) with the Errazuriz Group of Chile.

The MoU is aimed at assessing the opportunity to merge Herencia's copper assets with Errazuriz's nearby operating Tambillos copper mine to create a new Chilean mid-tier copper-silver-gold production joint venture company.

The proposed Tambillos-Herencia Joint Venture will look to combine the existing Tambillos mining operations with Herencia's proposed open pit Picachos project.