Empire Metals to Sell 75% Eclipse Gold Project under Three-Month Due Diligence Agreement

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Empire Metals has entered a conditional sale and purchase agreement to divest its 75% interest in the Eclipse Mining Lease near Kalgoorlie, Western Australia. The agreement grants the buyer a three-month exclusivity period for technical and commercial due diligence on the non-core gold asset.

1. Conditional Sale Agreement for Eclipse Gold Project

Empire Metals Limited has entered into a conditional sale and purchase agreement to transfer its 75% interest in the Eclipse Mining Lease, a non-core gold asset located 40 kilometres south of Kalgoorlie in Western Australia. Under the terms, the proposed purchaser secures a three-month exclusivity and due diligence window during which it will complete detailed technical studies—including drilling data reviews and metallurgical test programs—and commercial assessments of the Eclipse tenement, which hosts multiple shallow oxide gold targets identified in historical work. No cash consideration or earn-in structure has been publicly disclosed, but Empire Metals expects to reallocate any capital proceeds toward its core exploration portfolio in Zimbabwe and Western Australia. The parties may extend the exclusivity period by mutual agreement, with a final condition precedent being the execution of a definitive purchase agreement before the end of the initial due diligence term.

Sources

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