acquisition of west african resources

asx ann out today looks like a turnaround with some luck

ACQUISITION OF WEST AFRICAN RESOURCES
AND CORPORATE RESTRUCTURE
The Directors of Balkans Gold Limited (Balkans) are pleased to announce the signing of a binding Heads of Agreement to acquire 100% of the issued capital of West African
Resources Limited (West African), an exploration company with an advanced gold project in Burkina Faso and exploration permit applications in Niger. West African’s experienced management team will also join Balkans to advance the projects and to assess other resource opportunities throughout Africa. The Directors believe that Burkina Faso, and the West African region in general, remains under-explored and has excellent mineral
endowment potential.

Highlights Burkina gold project located immediately along strike from Orezone Resources
Inc’s undeveloped 1.1Moz Au Bomboré deposit

2000km project area located in highly prospective mineral province, including 70km strike of greenstone and proximity to major infrastructure

Advanced targets with excellent rock chip and RC drilling results including 8 metres at 12.47g/t Au including 4 metres at 22.30 g/t Au, from 34m

Addition of a proven management team with extensive experience throughout West African region

West African MD, Mr. Richard Hyde, to join Balkans Board and drive African strategy