Sarama Resources to Acquire Majority Stake in Mt Venn Gold Project

Sarama Resources Ltd. has announced a binding agreement with Orbminco Limited to acquire a controlling interest in the Mt Venn Project. Located in the Eastern Goldfields of Western Australia, the 420km² underexplored project strengthens Sarama's foothold in the Laverton Gold District. This acquisition follows Sarama's recent purchase of the Cosmo Project, expanding their landholding to 1,000km².

Mt Venn offers promising gold potential with a history of high-grade finds since the 1920s. Geological features include volcanic and metasedimentary rocks, with a large shear zone providing favourable conditions for exploration. Recent drilling by Cazaly Resources indicated significant mineralisation at the Three Bears Prospect. The project is also considered prospective for base metals and platinum group elements.

Completion is subject to regulatory approvals and agreement fulfilment. Sarama will issue 12 million CDIs to Orbminco as consideration. The deal is expected to expedite under TSX rules, positioning Sarama for further discoveries in this mineral-rich district.