Karora Resources Inc. announced that it has entered into a binding agreement to acquire the operating, fully permitted 1.0 Mtpa Lakewood Mill gold processing facility located near Kalgoorlie, Western Australia, approximately 60 kilometres from the Beta Hunt Mine. The acquisition price of AUD 80 million is comprised of AUD 70 million in cash and AUD 10 million in Karora shares. Karora successfully tolled Beta Hunt material through the Lakewood mill in First Quarter 2022, achieving 94% Au recovery. The transaction is subject to, among other conditions, satisfactory completion by Karora of its due diligence, Toronto Stock Exchange approval and Australian regulatory approval. Closing will occur three business days following the satisfaction or waiver of such conditions. The AUD 10 million in Karora share consideration will be satisfied by the issuance of shares based on a 20-day volume weighted average share price on the TSX and applicable currency exchange rates. Karora has paid a AUD 500,000 deposit to the seller to be deducted from the cash portion of the purchase price due at closing.