Aldoro Resources Limited (ASX:ARN) entered into a binding heads of agreement to acquire E58/571 Located in the Mt Magnet Area of Western Australia from Mining Equities Pty Ltd for AUD 0.22 million on July 29, 2021. Aldoro Resources will pay Mining Equities AUD 0.05 million in cash and 325,000 shares on the date that is ten business days following grant of the tenement application. The transaction is subject to completion of financial, legal and technical due diligence by Aldoro on the tenement, to the satisfaction of Aldoro, the parties obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules, the parties obtaining all third-party approvals and consents, including the consent of the Minister responsible for the Mining Act 1978 (WA) (Mining Act) (if required), Mining Equities, Aldoro and, if necessary under the third party agreements, the relevant third party, executing a deed of assignment and assumption in relation to each third party agreement. If the conditions precedent are not satisfied on the date that is 270 days following the execution date, then any party may terminate the agreement by notice in writing to the other party. Settlement of the acquisition will occur on the date that is two business days after the satisfaction or waiver of the last of the conditions precedent. As of July 19, 2022, shareholders of Aldoro Resources Limited have approved the deal.

Aldoro Resources Limited (ASX:ARN) completed the acquisition of E58/571 Located in the Mt Magnet Area of Western Australia from Mining Equities Pty Ltd on December 6, 2022.