Eminent Gold Corp. Completes Acquisition of Celts Mineral Property in Nevada
VANCOUVER, British Columbia, February 12, 2025 – Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (“Eminent” or the “Company”), a gold exploration and development company, is thrilled to announce the successful completion of the acquisition of the Celts mineral property (“Celts Project”) in Nevada, USA. The acquisition was pursuant to a purchase agreement among Eminent, Hot Springs Resources Corp., a wholly owned subsidiary of Eminent (“Hot Springs”), Renaissance Exploration Inc., a wholly owned indirect subsidiary of Orogen Royalties Inc. (“Orogen”), and Altius Resources Inc. (“Altius” and, together with Orogen, the “Sellers”).
Background of the Celts Project
The Celts Project is situated in Nevada, USA, and is known for its gold and silver mineralization. The property covers an area of approximately 1,500 acres and is located in the historic Battle Mountain-Eureka Gold Trend. The area is well-known for its productive gold mines and is home to several major mining companies. The Celts Project is accessible via state and county roads and is located near infrastructure such as power lines and water sources.
Terms of the Acquisition
Under the terms of the Purchase Agreement, Eminent has acquired a 100% interest in the Celts Project from the Sellers for an aggregate purchase price of US$400,000. The purchase price was satisfied through the issuance of common shares of Eminent. Additionally, the Company will pay the Sellers a 2% net smelter return royalty (“NSR Royalty”) on any production from the Celts Project.
Impact on Eminent and Its Stakeholders
The acquisition of the Celts Project marks a significant milestone for Eminent as it strengthens the Company’s presence in the Nevada gold mining industry. This acquisition not only adds a high-potential mineral property to Eminent’s portfolio but also provides the Company with an opportunity to explore and develop the property further. The acquisition is expected to create value for Eminent’s shareholders through potential discoveries and increased exposure to the gold mining sector in Nevada.
Impact on the Global Mining Industry
The acquisition of the Celts Project by Eminent is likely to have a positive impact on the global mining industry. The acquisition underscores the ongoing interest and investment in the gold mining sector, particularly in Nevada, which is known for its rich gold deposits. The acquisition may also encourage other mining companies to explore and invest in similar opportunities, leading to increased exploration activities and potential discoveries in the region.
Conclusion
Eminent Gold Corp.’s acquisition of the Celts mineral property in Nevada is a strategic move that strengthens the Company’s position in the gold mining industry. With the acquisition, Eminent gains a high-potential mineral property and an opportunity to explore and develop it further, creating value for its shareholders. Additionally, the acquisition is likely to have a positive impact on the global mining industry by encouraging increased exploration activities and potential discoveries in the region.
- Eminent Gold Corp. completes acquisition of Celts mineral property in Nevada
- Acquisition strengthens Eminent’s presence in the Nevada gold mining industry
- Positive impact on Eminent’s shareholders through potential discoveries and increased exposure to the gold mining sector
- Encourages increased exploration activities and potential discoveries in the region, benefiting the global mining industry
