Ann: E79 Gold Acquires 100% of the Mountain Home Project, page-2

E79 Gold Acquires 100% of the Mountain Home
Project
E79 Gold has agreed to exercise the Option with NT Minerals for 100%
ownership of the underlying tenement at the Mountain Home Copper
Gold-Bismuth Project in the NT (EL32470).
As part of the agreement in exercising the Option early, NT Minerals
agreed to reduce the Net Smelter Royalty (NSR) from 2% to 1%, and
reduce the royalty cap from $3 million to $1.5 million.
Work continues during the wet season at Mountain Home with the
heritage licence quote (AAPA licence) accepted and now awaiting the
heritage survey to commence, paving the way for initial drilling to
commence in the 2025 dry season.
West Australian-based explorer E79 Gold Mines Limited (ASX: E79) (‘E79 Gold’ or
‘the Company’) is pleased to advise that it has elected to exercise its option to
acquire 100% of the Mountain Home Copper-Gold-Bismuth Project, located in the
Northern Territory.
E79 Gold CEO, Ned Summerhayes, said: “We are delighted to have secured the
long-term future of the Mountain Home Project by exercising the Option early for 100%
ownership. By exercising the Option early, we have been able to agree a reduced royalty
from 2% NSR to 1% NSR, and reducing the royalty cap from $3 million to $1.5 million,
further enhancing the potential of the Project going forward. We thank NT Minerals for
their work to date and look forward to progressing the highly prospective project going
forward, with preparations continuing for our maiden drilling program – which is
scheduled to begin in the 2025 dry season.”
ASX Code: E79
Shares on issue: 158M
Market capitalisation: $5.7