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September 8, 2016

M&As this week: FinnAust Mining, New Jersey Mining Company, Auryn Resources

FinnAust Mining has reached an agreement to buy 100% of Avannaa Exploration's 194km² Disko-Nuussuaq Magmatic Massive Sulphide (MMS) nickel-copper-platinum project (Ni-Cu-PGE) and the 107km² Kangerluarsuk SedEx lead-zinc-silver project, both located in Greenland.

FinnAust Mining has reached an agreement to buy 100% of Avannaa Exploration's 194km² Disko-Nuussuaq Magmatic Massive Sulphide (MMS) nickel-copper-platinum project (Ni-Cu-PGE) and the 107km² Kangerluarsuk SedEx lead-zinc-silver project, both located in Greenland.

The two projects are believed to host high-grade base metal potential with rare geological characteristics not often seen in the Cu-Ni-PGE and Zn-Pb-Ag mineral spaces.

"The two projects are believed to host high-grade base metal potential with rare geological characteristics."

New Jersey Mining Company (NJMC) has completed the acquisition of GF&H. The deal provides NJMC with the rights to 374 acres of patented mining claims held by GF&H. These claims are close to GF&H's Golden Chest Mine Project near Murray, Idaho, US.

Auryn Resources has acquired all of the issued and outstanding common shares of Homestake Resource Corporation (Homestake). The deal makes Homestake a wholly owned subsidiary of Auryn.

The acquisition provides Auryn Resources the ownership to the Homestake Ridge Project, located within the Kitsault Mineral district in north-western British Columbia, Canada, covering an area of 3,617ha.

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