Revival Gold Consolidates Mercur Gold Project by Exercising Option To Acquire 100% of Barrick's Interest [Yahoo! Finance]
Barnes Group, Inc. (B)
Last barnes group, inc. earnings: 4/24 06:30 am
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Source: Yahoo! Finance
that it has delivered a notice to exercise its option (the “Option”) to acquire 100% of Barrick Mining Corporation's (“Barrick”) interest in the Mercur Gold Project (“Mercur”) in Utah, marking a significant step forward on the path to re-starting production. The Option was granted and exercised pursuant to the Mineral Lease and Option to Purchase Agreement dated May 13 th , 2021, as amended (“Option Agreement”) among certain wholly owned subsidiaries of the Company and certain affiliates of Barrick. The Option Agreement covers mineral interests amounting to 996 hectares, bringing the total Mercur project area to approximately 7,200 hectares. Revival Gold and its affiliates had previously consolidated ground held by a successor to Homestake Mining Company and various other owners. Revival Gold completed a Preliminary Economic Assessment on the Mercur Gold Project in mid-2025 (the “PEA”) and undertook a 13,000-meter drill program this year to, among other things, support a planned 2
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