Alamos Gold Announced Strategic Agreement to Acquire Manitou Gold

The acquisition will extend the miner’s mineral tenure along strike to the east within the Goudreau Lake Deformation Zone.

SEATTLE (Scrap Monster): Toronto-based Alamos Gold Inc. announced that it has entered into a definitive agreement to acquire all of the issued and outstanding shares of Manitou Gold Inc.  The acquisition will further consolidate the company’s existing ownership of Manitou shares.

The addition of the Goudreau Property will increase Alamos’ regional land package around Island Gold. The addition of approximately 40,000 hectares of land adjacent to and along strike from the Island Gold Mine will also deliver significant exploration potential across the relatively underexplored Michipicoten Greenstone Belt. The deal is expected to increase Alamos’ land package around the Island Gold Deposit to 55,277 hectares.

The acquisition will extend the miner’s mineral tenure along strike to the east within the Goudreau Lake Deformation Zone. The expanded land package will now include the majority of the mineral tenure between the Island Gold Mine and the Renabie Gold Mine. The Goudreau Property also adds six additional belt-scale deformation zones with several gold occurrences.

As per terms of the agreement, Manitou shareholders will receive 0.003525 of an Alamos common share for each Manitou share held by them.

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