Pacton Gold Inc. (Pacton) has entered into a sale agreement to acquire 100% of both the Yandicoogina and Boodalyerrie exploration licenses and mining leases from Gardner Mining Pty Ltd (Gardner Mining). These two granted mining leases and three granted exploration licenses comprise a total of 146.80 km2.
Under the terms of the agreement, the company will purchase a 100% ownership interest in the projects by issuing 3 000 000 common shares on the closing of the transaction.
Transfer of the projects was subject to FIRB approval, which the company has now received.
This transaction is subject to the acceptance of the TSX Venture Exchange, which the company will be seeking forthwith.