Hi-View Resources Inc. To Attend And Present "District Scale Exploration Of The Toodoggone Region" At Vancouver Resource Investment Conference (VRIC)
Executive Summary
- Au Gold Corp entered into a definitive agreement to acquire the entire Havelock Gold‑Antimony Project (11,663 ha) in Victoria, Australia for C$75,000 cash and 5 million common shares.
- The transaction includes additional “per‑ounce” royalty payments of C$3 per ounce discovered (measured, indicated or inferred) to Leviathan Gold Australia, plus downstream royalties to Mercator Gold Australia (A$1 per ounce discovered and A$1 per ounce produced, capped at A$1 M each).
- The acquisition is a “Fundamental Acquisition” under TSX‑V rules; the company will file a NI 43‑101 technical report after closing and plans to commence exploration immediately.
Key Details
- Purchase Price & Consideration
- C$75,000 cash (C$10 k on signing, C$65 k upon TSX‑V acceptance).
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Issuance of 5 million Au Gold Corp common shares (~11.16 % of post‑closing equity on a non‑diluted basis).
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Royalty / Per‑Ounce Payments
- Au Gold Corp to pay LGA C$3 per ounce discovered (measured, indicated or inferred).
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Under an existing agreement with Mercator Gold Australia: A$1 per ounce discovered and A$1 per ounce produced, each capped at A$1 million.
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Project Overview
- Location: Victorian goldfields near Maryborough, between Bendigo and Ballarat; accessible year‑round via paved highways.
- Historical production from shallow underground workings with reported grades of 1–10 oz/ton Au and notable antimony (stibnite) mineralization.
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Prior work includes a 2021 eight‑hole diamond drill program by Leviathan that returned significant intercepts (e.g., Hole 21LEV002: 7.10 m @ 3.06 g/t Au; Hole 21LEV002 second interval: 1.11 m @ 56.40 g/t Au).
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Regulatory & Technical
- Transaction subject to TSX Venture Exchange acceptance and filing of an early‑warning report under NI 62‑104.
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A NI 43‑101 technical report is being prepared by Qualified Person William Wengzynowski, P.Eng., and will be filed on SEDAR+ after review.
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Corporate Structure
- Au Gold Corp has created a wholly‑owned Australian subsidiary, Havelock Gold Pty Ltd, to hold the project assets.
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No finders’ fees payable; existing A$10 k environmental bond will be replaced by Au Gold Corp.
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Future Plans
- Immediate commencement of exploration activities on the Havelock Project following closing.
Notable Quotes
“We are very excited to start exploration, including testing high priority gold‑antimony targets at Havelock.” – Marc Blythe, President & CEO, Au Gold Corp.