Golden Age Exploration has signed a definitive agreement to acquire 100% of Mac Minerals Pty Ltd, securing a portfolio of uranium exploration licences in South Australia and the Northern Territory.

Under the terms of the agreement, Golden Age will pay CA$150,000 in cash and issue 6,000,000 common shares. The transaction also includes performance-based milestone payments of up to C$3.95 million, with an additional C$2.0 million payable for each project where a uranium resource of at least 30 million pounds is defined. The acquisition remains subject to acceptance by the CSE.

The portfolio includes the flagship Hamilton Basin project in South Australia, which covers 10,655 square kilometres and is considered a large-scale, untested uranium exploration target. The acquisition also adds the Algebuckina project in South Australia and the Yalyirimbi project in the Northern Territory. Golden Age plans to initiate near-term targeted drilling at Yalyirimbi, building on existing airborne electromagnetic survey data that identified extensive palaeo-channels.

“Golden Age is tremendously excited by the acquisition of this large-scale uranium portfolio and believes these Projects have significant exploration potential. This milestone structure aligns Vendor compensation with the successful advancement of the Company's Australian uranium exploration portfolio and the creation of long-term shareholder value.”

— Tibor Gajdics, President & Director

Read the full announcement: Golden Age Enters into Definitive Agreement to Acquire Australian Uranium Exploration Portfolio