Inventus Mining acquires historic Golden Rose Mine

Inventus Mining is acquiring the historic Golden Rose Mine from Conquest Resources, expanding its regional land position to 681 km2 and adding a significant gold asset 14 km from its flagship Pardo Project. The company entered into a definitive property purchase agreement on 27 August to acquire a 100% interest in the Belfast-Teck Mag property package, which includes Golden Rose.

Under the agreement, Inventus will issue Conquest 8 million common shares at C$0.295 on closing. A 2.0% net smelter return royalty also applies to mining claims not subject to existing royalties. Inventus retains the right to purchase 0.5% of this royalty for C$1 million. Completion requires acceptance from the TSX Venture Exchange.

Golden Rose is located approximately 70km northeast of Sudbury, Ontario, in Canada. Gold mineralisation is associated with quartz-carbonate veining and sulphide replacement within Archean banded iron formation across a 2.2km favourable iron-formation horizon.