E79 Gold’s Cue Metals Deal Hinges on Milestone Payments and Tenement Grants

Acquisition Completion and Strategic Board Appointment

E79 Gold Mines Limited (ASX, E79) has successfully completed the acquisition of 90% of Cue Metals Pty Ltd, securing the highly prospective Cue Gold Project located in Western Australia's Murchison Gold Province. This milestone was marked by the issuance of over 14 million fully paid shares to Cue Metals shareholders as part of the initial consideration.

Complementing this corporate development, E79 Gold has welcomed Matthew Bowles to its board as a Non-Executive Director. Bowles brings over two decades of mining industry expertise, notably leading Alto Metals through significant growth and acquisition phases. His appointment signals E79 Gold’s intent to leverage seasoned leadership as it advances its exploration ambitions.

Exploration Program Set to Accelerate

With the acquisition complete, E79 Gold is poised to initiate an aggressive exploration campaign. Central to this is a high-resolution ground gravity survey scheduled to begin in mid-December 2025. This survey aims to delineate the key geological structures that control gold mineralisation, providing critical data to guide subsequent drilling and resource definition.

The company has already secured contracts and is finalising logistics to mobilise gravity crews, underscoring its commitment to rapid progress. Additionally, heritage agreements are being drafted to facilitate tenure approvals, which remain a prerequisite for full operational access.

Milestone-Linked Consideration and Future Tenement Acquisitions

The acquisition deal includes deferred share payments contingent on achieving exploration and tenement milestones, such as the transfer of optioned tenements and the granting of currently applied-for tenements. This structure aligns Cue Metals’ former shareholders’ interests with the project’s success while managing E79 Gold’s capital deployment prudently.

Moreover, E79 Gold intends to exercise an option agreement to acquire six additional tenements in the Cue region, further expanding its footprint in this prolific gold province. These strategic moves position E79 Gold to capitalize on the region’s rich endowment, which includes nearby operations by established producers like Westgold and Ramelius Resources.

Looking Ahead

CEO Ned Summerhayes expressed enthusiasm about the acquisition and upcoming exploration activities, highlighting the importance of the Cue Gold Project within E79 Gold’s broader portfolio. The company’s motto, “Money in the ground,” reflects its focus on tangible asset growth through disciplined exploration and development.

As E79 Gold embarks on this next phase, investors and industry watchers will be keenly observing the results of the gravity survey and subsequent drilling campaigns, which will be pivotal in unlocking the project’s value.