Antler Gold Updates Agreement for Erongo Gold Project
HALIFAX, NOVA SCOTIA – December 5, 2024 – Antler Gold Inc. (TSXV: ANTL) (“Antler” or the “Company”) is pleased to announce a strategic amendment to its previously announced agreement with Fortress Asset Management LLC (“Fortress”) in respect of the Erongo Central Gold Project (the “Project”) in Namibia. Under the terms of the original agreement dated September 18, 2024 (the “Original Agreement”), Antler granted to Fortress the right to acquire up to a 100% equity interest in the Project in three stages over a three-year period for US$5.5 million. In addition, pursuant to the terms of the Original Agreement, Fortress was also required to incur US$6.0 million of exploration expenditures on the Project. For further details, please see the Company’s News Releases dated May 23, 2024, May 24, 2024, August 22, 2024, and September 18, 2024.
The amending agreement dated December 5, 2024 (the “Amending Agreement”) transitions the transaction from the original earn-in structure to an outright sale (the “Amended Transaction”), delivering enhanced upfront value for Antler’s shareholders, while eliminating the risk and uncertainty of future exploration expenditures.
