Pasofino Gold Nears Potential US$75 Million Acquisition

A Deeper Dive into Pasofino Gold’s Recent Acquisition

Acquisition Overview

Pasofino Gold Ltd. (TSX: VEIN), a Canadian exploration company, is nearing a potential US$75 million acquisition of the Dugbe Gold Project in Liberia. The project comprises three contiguous exploration licenses covering 383 square kilometers in the highly prospective Bea Mountain greenstone belt. Pasofino has been conducting exploration work on the project since 2019 and has identified several high-grade gold targets.

The acquisition, if completed, would mark a significant milestone for Pasofino and would provide the company with a major foothold in West Africa. The Dugbe Gold Project has the potential to host a large-scale gold deposit, and Pasofino's exploration work to date has yielded promising results. The company has identified several high-grade gold targets, including the Central Zone, which has returned drill intercepts of up to 24.7 g/t gold over 6 meters.

The acquisition of the Dugbe Gold Project would be a major step forward for Pasofino and would provide the company with a significant asset in a highly prospective region. The project has the potential to host a large-scale gold deposit, and Pasofino's exploration work to date has yielded promising results.

Benefits to Pasofino Gold

The acquisition of the Dugbe Gold Project would provide Pasofino with a number of benefits, including:

• Exposure to a highly prospective gold belt: The Dugbe Gold Project is located in the Bea Mountain greenstone belt, which is known for its high-grade gold deposits.
• Access to a large-scale gold deposit: The project has the potential to host a large-scale gold deposit, which could provide Pasofino with a significant source of future revenue.
• Strong exploration upside: Pasofino's exploration work to date has yielded promising results, and the company believes that there is significant potential for further discoveries on the project.
• Experienced management team: Pasofino has a strong management team with a proven track record of success in the mining industry.

Acquisition Details

The acquisition of the Dugbe Gold Project is expected to be completed in the third quarter of 2023. The total consideration for the acquisition is US$75 million, which will be paid in a combination of cash and shares. Pasofino has the right to earn a 100% interest in the project by making certain staged payments and meeting certain performance milestones.

Conclusion

The acquisition of the Dugbe Gold Project would be a major step forward for Pasofino and would provide the company with a significant asset in a highly prospective region. The project has the potential to host a large-scale gold deposit, and Pasofino's exploration work to date has yielded promising results. The acquisition is expected to be completed in the third quarter of 2023.