11:32 AM EDT, 10/11/2024 (MT Newswires) -- Golden Horse Minerals (GHML.V) on Friday said it agreed to acquire a "large and strategic" tenement package from ASX-listed Emerald Resources for a $3 million in cash or shares.

These tenements, referred to as the Project, cover a total area of 360km and consist of 11 exploration leases, four mining leases, and one prospecting lease.

"Golden Horse continues to execute its strategy of consolidating tenure across the Southern Cross Greenstone Belt, which is one of Australia's top producing gold provinces. For decades this tenure has been locked-up through fractured ownership, but with a concerted effort the company is now emerging as the dominant player in the region," said CEO Nicholas Anderson. "The Hopes Hill acquisition is particularly significant as it provides Golden Horse with another sizable land package within the Belt. The Hopes Hill mine itself is also a fantastic asset with excellent past production plus some exciting but early-stage exploration results which suggest a continuation of the gold-bearing structure."

The company's shares last traded Oct.4, closing at $0.275 on the TSX Venture Exchange.

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