Southern Empire Resources (TSX-V: SMP) and MAS Gold (TSX-V: MAS) announced Monday that Southern Empire has agreed to acquire all of the issued and outstanding common shares of MAS Gold.
MAS Gold has two advanced stage gold deposits in the La Ronge Gold Belt of Saskatchewan, Canada: the North Lake Gold Deposit containing 417,000 ounces gold and the Greywacke North Gold Deposit containing 95,600 oz.
Significant potential for resource expansion exists at both Greywacke North and North Lake, the companies said in a joint statement.
MAS Gold has two advanced stage gold deposits in the La Ronge Gold Belt of Saskatchewan, the North Lake Gold Deposit containing 417,000 ounces gold and the Greywacke North Gold Deposit containing 95,600 oz.
“With this transaction, Southern Empire will emerge as a company having NI 43-101 gold resources in Saskatchewan, which we will target to expand and enhance,” said Southern Empire CEO Dale Wallster.
“Together with our Oro Cruz and Eastgate gold projects in the southwestern U.S.A. we will be a multi-asset, advanced stage gold exploration and development company with holdings in some of the best mining jurisdictions in the world.”