On September 9, 2024, G Mining Ventures Corp. (GMIN) entered into a purchase and sale agreement with BHP Group Limited to acquire the CentroGold Project, located in Brazil’s Gurupi Gold Belt. The project spans 47 tenements, covering approximately 1,900 km², and hosts 2.3 million ounces of JORC-compliant gold resources. As consideration, GMIN granted BHP a 1.0% net smelter return (NSR) royalty on the first 1 million ounces of gold produced, followed by a 1.5% NSR royalty on all additional production.

The transaction, which did not disclose a specific monetary value, was aligned with GMIN’s strategy to expand its gold resource portfolio. The CentroGold Project includes three major open-pit deposits (Blanket, Contact, and Chega Tudo) with significant exploration potential, further expanding GMIN’s long-term growth plans.

CentroGold’s development timeline is expected to be redesigned, considering modern economic and permitting requirements. The project will complement GMIN’s existing operations, which include the Tocantinzinho Gold Mine in Brazil and the Oko West Gold Project in Guyana.

RBC Capital Markets acted as financial advisor to GMIN, with Blake, Cassels & Graydon LLP and Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados serving as legal counsel.

The transaction was expected to close in Q1-2025, subject to customary closing conditions and regulatory approvals from Vietnam and Brazil.