PERTH, Australia, Jan. 31, 2022 /CNW/ - Resolute Mining Limited, through a subsidiary ("Resolute Mining"), is announcing that it has entered into a private share purchase agreement by which it has agreed to sell 39,092,233 common shares of Orca Gold Inc. ("Orca Gold") for a price of US$0.3505 per share (C$0.4470 per share) for aggregate consideration of US$13,702,536 (C$17,474,228). The shares sold represent approximately 15.1% of the presently issued and outstanding Orca Gold common shares and represent the entirety of Resolute Mining's shares held in Orca Gold. Following completion of the transaction Resolute Mining will not have ownership, control or direction over any securities of Orca Gold. The shares were disposed of in a single transaction off-market to a single buyer. Resolute Mining has no intention to acquire any further securities of Orca Gold.

Orca Gold's common shares are listed on the TSX Venture Exchange under the symbol "ORG".

Resolute Mining has its head office at Level 2, Australia Place, 15-17 William Street, Perth, Western Australia, 6000.

Orca Gold's head office is located at 2000 - 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8.

SOURCE Resolute Mining Limited

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