AURUM ENTERS OPTION AND EARN-IN AGREEMENT FOR ARACARI GOLD

Serus Legal has advised Aurum Discovery Limited in connection with its entry into an Option and Earn-In Agreement with BWA Group PLC (AQSE: BWA) for the Aracari Gold Project in Cameroon.

The Aracari Project covers an extensive 1,268 km² license area along the gold-rich Tchollire-Banyo Shear-Zone in Cameroon. Artisanal workings are widespread across the license, which has seen limited modern exploration but is regarded as highly prospective for hard-rock gold mineralisation.

Under the agreement, BWA may earn up to a 70% interest in the project through staged exploration expenditure over a four-year period. BWA has also agreed to make milestone payments to Aurum tied to the delivery of a JORC-compliant resource and pre-feasibility study, providing further value as the project advances. On achieving its Stage 3 interest (70%), Aurum and its partner, Explorers33 Consulting SARL, will each benefit from a 1% Net Smelter Return (NSR) royalty over the Project, while BWA and its subsidiary will benefit from a 0.5% NSR.

BWA has six months to complete Stage 1, a further 20 months for Stage 2, and an additional 20 months for Stage 3 following the second permit renewal.

The structure provides flexibility to advance exploration while managing project risk, with Aurum and its local partners retaining a continuing interest as the project develops.

Serus Legal advised Aurum on all aspects of the transaction, including structuring, negotiation, and preparation of the Option and Earn-In Agreement and related documentation, ensuring compliance with Cameroonian mining law and alignment with international market practice.

Barry Stoffell, CEO of Aurum Discovery Limited, commented: ““Together with our local partners, we are very pleased to enter into this agreement with BWA. The Aracari project has scale and prospectivity, and this partnership represents a significant potential investment in the region. The successful progress of Oriole’s nearby Bibemi project gives confidence in the wider district, and a clear opportunity for Aracari to build on that success.”

Peter Finan, Managing Partner of Serus Legal, said: “We are delighted to have advised Aurum on this transaction with BWA. The agreement provides a clear pathway to advance the Aracari Gold Project, while ensuring Aurum retains a meaningful interest as it develops. We are pleased to have played a part in such an important partnership.”

Serus Legal’s team was led by Peter Finan (New York) with support from Marc Montandon (Perth).

Need Help in Africa? – Serus Legal advises bilingually on mining transactions across Africa and internationally, with expertise in structuring earn-ins, royalties, joint ventures, and acquisitions.

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