Aranjin Resources Ltd. (TSXV:ARJN) entered into agreement to acquire 80% stake in Western Wood project in New South Wales from Western Wood Capital Pty Ltd. for CAD 0.23 million on October 5, 2023. Aranjin agreed to issue 15 million common shares to Western at a deemed price of CAD 0.02 per common share and a 3% net smelter returns royalty in the Western property. On completion of the transaction, Aranjin and Western will enter into joint venture for the Western Wood property with Aranjin holding an initial joint venture interest of 80%. The purpose of the joint ventures with Western Wood is the exploration of minerals, including base metals, and the potential development of mining operations pending establishment of a mineral resource. Completion of the transaction and issuance of the consideration shares is subject to the completion of customary closing conditions, as well as Western obtaining all required authorizations to give effect to the transaction and transfer and register of the Aranjin?s interest to the property and the receipt by Aranjin of all required shareholder and regulatory approvals, including the approval of the TSXV.

Aranjin Resources Ltd. (TSXV:ARJN) completed the acquisition of 80% stake in Western Wood project in New South Wales from Western Wood Capital Pty Ltd. on January 8, 2024.