Sarama Resources Advances Gold Project Acquisition in Western Australia

Sarama Resources Ltd (ASX: SRR) has executed a binding agreement to acquire an 80% interest in the Cosmo Newbery Gold Project, covering 580km² in Western Australia. The project, located 85km northeast of Laverton, encompasses the largely unexplored Cosmo-Newbery Greenstone Belt. Sarama can increase its ownership to 100% over two years post-completion. The project is highly prospective for gold, with historical workings and modern exploration set to unlock significant potential. The transaction includes issuing 25 million Sarama shares 7.5 million unlisted options, and AU$427,000 in various payments. Sarama will assume operatorship upon completion, forming a joint venture with Cosmo Gold Limited. The JV will pursue exploration and development, with Sarama carrying Cosmo's interest through to a decision to mine.

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