News Bureau

GIB Sells Legacy Gold Royalties

Gibb River Diamonds Limited (GIB) announces the sale of three legacy gold royalties to Vox Royalty Corp for a total cash consideration of $325,000. The royalty portfolio which has been sold comprises a 1% Net Smelter Return royalty over the following projects, 1: Bulgera Gold Project operated by Norwest Mineral Limited, 2: Comet Gold Project operated by Accelerate Resources Limited, 3: Mount Monger Gold Project operated by.

Conditions Precedent to this transaction require third party consents to be executed (unless waived by GIB and VOX) to facilitate the sale and purchase of the royalties. It is anticipated this transaction will be completed in a timely manner.

These royalties were legacy assets held within GIB. The Company is pleased with this royalty sale to VOX, the significant cash consideration of $325,000 will be used to fund the upcoming drilling at the Edjudina Gold Project. This royalty deal does not cover the Edjudina Gold Project which is free from any private royalties.

RC drilling is scheduled to commence on 1 March 2021 at the Edjudina Gold Project. Drilling will be focused on further defining and expanding the mineralised zone at the Neta Lodes discovery, which is the most significant mineralisation identified by the company to date within the 13km long gold field.

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