Rincon Resources Limited entered into an agreement to acquire Six new granted exploration tenements in Laverton Gold Project from Mining Equities Pty Ltd and Peter Gianni for AUD 0.15 million.

Rincon Resources Limited (ASX:RCR) entered into an agreement to acquire Six new granted exploration tenements in Laverton Gold Project from Mining Equities Pty Ltd and Peter Gianni for AUD 0.15 million on January 10, 2023. Cash Consideration of AUD 0.025 million to Peter Gianni for 100% interest in E38/3382, AUD 0.125 million worth of Rincon shares to Mining Equities Pty Ltd for 100% interest in E38/3063, E38/3064, E38/3201, E38/3202, and E38/3535, calculated by reference to the 20-day VWAP of Rincon shares ending on the day immediately prior to the Completion Date, 1.0% Net Smelter Return Royalty in favour of Mining Equities Pty Ltd. The Company will issue the Consideration Shares from its existing placement capacity at Completion. The transaction is approved by board.

Completion of the acquisition is conditional upon the satisfaction of waiver of the Condition Precedent, being Rincon and Mining Equities entering certain Deeds of Assignment and Assumption in respect of existing Access Agreements applying to E38/3201 and E38/3202; and E38/3535.