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Aggressive gold exploration aimed for Cracow area by Aeris Resources Ltd

Do you own or occupy rural land in the Cracow area which is within the gold mining leases or exploration tenements of Evolution Mining Ltd (ASX:EVN) (Evolution)?

If so, you may be aware that Evolution has entered into an agreement to sell Cracow Gold Mine to Aeris Resources Ltd (ASX:AIS) (Aeris). The acquisition is expected to occur on 30 June 2020, and includes approximately 900 km² of exploration and mining lease areas around the Cracow Gold Mine.

In a recent ASX Media Release, Aeris announced its commitment to aggressively explore the tenement, pursue further growth opportunities, carry out targeted drilling, and extend the life of the Cracow Gold Mine.

What does this mean for you as a landholder? If you own or occupy rural land within the gold mining leases or exploration tenements which will be acquired by Aeris, you may be approached regarding further negotiations for land access agreements.  Have a look at Figure 1 below to see if Aeris’ priority targets areas, being Ballymore, North West Corridor and Boughyard, fall within your land boundaries.

Fig. 1 – Priority targets

Source: Aeris Resources, Transformational Acquisition and Equity Capital Raising, 4 June 2020, p. 20

Aeris have also identified opportunities to further extend the life of the mine.  Have a look at Figure 2 below to see if any of the areas fall within your land.

Fig. 2 – Near mine opportunities (open pit)

Source: Aeris Resources, Transformational Acquisition and Equity Capital Raising, 4 June 2020, p. 18

If you think any of Aeris’ plans may have an impact on you, we recommend you seek legal advice from Waanda McCarthy, head of our Land and Resources Team, who can be contacted on (07) 4637 6300 at Toowoomba or 07 4622 1944 at Roma.  Alternatively, click here to send Waanda a direct enquiry.

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