Additional $1.83M Received by Great Pacific Gold on Australian Asset Sales
Great Pacific Gold (OTCQX: FSXLF) has received AUD$2,058,000 (CAD$1,830,000) from selling its Future Consideration rights in the previously announced Adelong Gold asset sales. The company had earlier sold its Golden Mountain and Lauriston Projects to Adelong Gold, receiving upfront payments of AUD$850,000 in cash and AUD$750,000 in shares.
The company still maintains 3.6 million shares in Golden Cross Resources valued at CAD$2,200,000 from its Reedy Creek Project sale. Additionally, GPAC is progressing with the 1:1 spin-out of its Walhalla Project, which includes over 1,400km² of concessions and the promising Pinnacles target. The spin-out transaction, announced with a CAD$1,500,000 funding, awaits TSX Venture Exchange approval.
[ "Immediate cash injection of CAD$1.83M from selling Future Consideration rights", "Holds Golden Cross Resources shares worth CAD$2.2M from previous asset sale", "Secured CAD$1.5M funding for Walhalla Project spin-out", "Walhalla Project includes 1,400km² of concessions with permitted, drill-ready Pinnacles target" ]Great Pacific Gold (OTCQX: FSXLF) ha incassato AUD$2.058.000 (CAD$1.830.000) cedendo i diritti di Future Consideration relativi alle vendite degli asset di Adelong annunciate in precedenza. La società aveva già venduto i progetti Golden Mountain e Lauriston ad Adelong Gold, ricevendo in anticipo AUD$850.000 in contanti e AUD$750.000 in azioni.
Detiene inoltre 3,6 milioni di azioni di Golden Cross Resources valutate CAD$2.200.000 derivanti dalla vendita del progetto Reedy Creek. GPAC sta procedendo con lo spin-out 1:1 del progetto Walhalla, che include oltre 1.400 km² di concessioni e il promettente target Pinnacles pronto per la perforazione. L'operazione di spin-out, annunciata con un finanziamento di CAD$1.500.000, è in attesa dell'approvazione della TSX Venture Exchange.
- Iniezione di liquidità immediata di CAD$1,83M dalla vendita dei diritti Future Consideration
- Detiene azioni di Golden Cross Resources per un valore di CAD$2,2M dalla precedente vendita di asset
- Assicurato un finanziamento di CAD$1,5M per lo spin-out del progetto Walhalla
- Il progetto Walhalla comprende oltre 1.400 km² di concessioni con il target Pinnacles autorizzato e pronto per perforazioni
Great Pacific Gold (OTCQX: FSXLF) ha recibido AUD$2.058.000 (CAD$1.830.000) por la venta de sus derechos de Future Consideration relacionados con las ventas de activos de Adelong anunciadas anteriormente. La compañía ya había vendido los proyectos Golden Mountain y Lauriston a Adelong Gold, recibiendo por adelantado AUD$850.000 en efectivo y AUD$750.000 en acciones.
Además mantiene 3,6 millones de acciones de Golden Cross Resources valoradas en CAD$2.200.000 procedentes de la venta del proyecto Reedy Creek. GPAC avanza con el spin-out 1:1 del proyecto Walhalla, que incluye más de 1.400 km² de concesiones y el prometedor objetivo Pinnacles, listo para perforación. La operación de spin-out, anunciada con un financiamiento de CAD$1.500.000, está a la espera de la aprobación de la TSX Venture Exchange.
- Inyección inmediata de efectivo de CAD$1,83M por la venta de derechos Future Consideration
- Mantiene acciones de Golden Cross Resources por un valor de CAD$2,2M tras una venta previa de activos
- Financiamiento asegurado de CAD$1,5M para el spin-out del proyecto Walhalla
- El proyecto Walhalla abarca más de 1.400 km² de concesiones con el objetivo Pinnacles permitido y listo para perforar
Great Pacific Gold (OTCQX: FSXLF)는 이전에 공지된 Adelong 금 자산 매각과 관련한 Future Consideration 권리를 매각해 AUD$2,058,000 (CAD$1,830,000)을 확보했습니다. 회사는 앞서 Golden Mountain 및 Lauriston 프로젝트를 Adelong Gold에 매각하고 AUD$850,000 현금과 AUD$750,000 주식을 선지급으로 받았습니다.
또한 Reedy Creek 프로젝트 매각으로 확보한 Golden Cross Resources 주식 360만 주(평가액 CAD$2,200,000)를 보유하고 있습니다. GPAC는 1:1 비율의 Walhalla 프로젝트 스핀아웃을 진행 중이며, 이 프로젝트는 1,400km²가 넘는 광구와 시추 허가가 완료된 유망한 Pinnacles 타깃을 포함합니다. CAD$1,500,000의 자금 지원 발표가 있었고 스핀아웃은 TSX 벤처 거래소의 승인을 기다리고 있습니다.
- Future Consideration 권리 매각으로 즉시 CAD$1.83M 현금 유입
- 이전 자산 매각으로 Golden Cross Resources 주식 보유액 CAD$2.2M
- Walhalla 프로젝트 스핀아웃을 위한 CAD$1.5M 자금 확보
- Walhalla 프로젝트는 1,400km² 이상의 광구와 시추 준비가 된 Pinnacles 타깃 포함
Great Pacific Gold (OTCQX: FSXLF) a obtenu AUD$2 058 000 (CAD$1 830 000) en vendant ses droits de Future Consideration liés aux cessions d'actifs d'Adelong annoncées précédemment. La société avait précédemment vendu les projets Golden Mountain et Lauriston à Adelong Gold, recevant en avance AUD$850 000 en numéraire et AUD$750 000 en actions.
Elle détient également 3,6 millions d'actions de Golden Cross Resources évaluées à CAD$2 200 000 suite à la vente du projet Reedy Creek. GPAC progresse sur le spin-out 1:1 de son projet Walhalla, qui comprend plus de 1 400 km² de concessions et la prometteuse cible Pinnacles, prête au forage. La transaction de spin-out, annoncée avec un financement de CAD$1 500 000, est en attente de l'approbation de la TSX Venture Exchange.
- Injection de liquidités immédiate de CAD$1,83M suite à la vente des droits Future Consideration
- Détention d'actions Golden Cross Resources d'une valeur de CAD$2,2M après une cession d'actifs antérieure
- Financement de CAD$1,5M sécurisé pour le spin-out du projet Walhalla
- Le projet Walhalla comprend plus de 1 400 km² de concessions avec la cible Pinnacles autorisée et prête pour le forage
Great Pacific Gold (OTCQX: FSXLF) hat durch den Verkauf seiner Future Consideration Rechte im Zusammenhang mit den zuvor angekündigten Adelong-Asset-Verkäufen AUD$2.058.000 (CAD$1.830.000) erhalten. Das Unternehmen hatte zuvor die Projekte Golden Mountain und Lauriston an Adelong Gold verkauft und Vorauszahlungen von AUD$850.000 in bar und AUD$750.000 in Aktien erhalten.
Außerdem hält es weiterhin 3,6 Millionen Aktien von Golden Cross Resources, bewertet mit CAD$2.200.000, aus dem Verkauf des Reedy Creek Projekts. GPAC arbeitet am 1:1 Spin-out seines Walhalla-Projekts, das über 1.400 km² Konzessionen sowie das aussichtsreiche, bohrbereite Pinnacles-Ziel umfasst. Die Spin-out-Transaktion, mit einer Ankündigung über eine Finanzierung von CAD$1.500.000, wartet auf die Zustimmung der TSX Venture Exchange.
- Sofortige Liquiditätszufuhr von CAD$1,83M durch Verkauf der Future Consideration Rechte
- Hält Golden Cross Resources Aktien im Wert von CAD$2,2M aus einem früheren Asset-Verkauf
- CAD$1,5M Finanzierung für den Walhalla-Spin-out gesichert
- Walhalla-Projekt umfasst über 1.400 km² Konzessionen mit dem genehmigten, bohrbereiten Pinnacles-Ziel
- None.
- Complete exit from Golden Mountain and Lauriston Projects, foregoing future milestone payments and 2% NSR
- Reduction in Australian asset portfolio to only Walhalla Project
Vancouver, British Columbia--(Newsfile Corp. - August 11, 2025) - Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) (FSE: V3H) ("Great Pacific Gold," "GPAC," or the "Company") is providing an update on its Victoria, Australia asset divestitures. All dollar figures in this release are Canadian dollars unless otherwise specified (AUD = Australian dollars).
The Company previously announced the sale of its non-core assets, the Golden Mountain and the Lauriston Projects, to Adelong Gold Limited (ASX: ADG) ("Adelong") in February and May 2025. Under the sale of each project, the Company received significant upfront payments including total cash payments of AUD
The Company has entered into a binding assignment agreement dated July 25, 2025 with an arm's length individual investor (the "Investor") to sell its current Adelong shares and all Future Consideration for an immediate lump sum payment of AUD
The Company still holds 3.6 million shares in Golden Cross Resources Inc (TSXV: AUX) from its sale of the Reedy Creek Project with a current market value of
Walhalla Project Spin-out Update
The Company's only remaining tenements in Australia are the Walhalla Project tenements. Located in the state of Victoria, the district-scale Walhalla project consists of over 1,400km2 of concessions. In addition to multiple areas with past historic production, Walhalla contains a high-priority greenfield target called Pinnacles. Extensive soil geochemistry at Pinnacles has highlighted a 400m x 1,100m gold mineralized aplitic dyke which contains disseminated sulphides and outcrops at surface. The Pinnacles target is fully permitted, accessible, and ready for immediate drilling.
On May 2, 2025 the Company announced a 1:1 spin out of the Walhalla Project to GPAC shareholders and on June 23, 2025 the Company announced it had entered into an Arrangement Agreement and received
Progress is being made on the spin-out transaction with a NI43-101 technical report being prepared on the property and carve out financial statements being prepared and reviewed by auditors. The Company expects to announce a management team and board of directors for Walhalla Gold Corp in due course, along with a schedule for completion and a record date for the transaction.
The spin out transaction remains subject to the approval of the TSX Venture Exchange and the conditions set forth in the Company's news release dated June 23, 2025.
On behalf of Great Pacific Gold
Greg McCunn, Chief Executive Officer and Director
For further information visit gpacgold.com or contact:
Email: info@gpacgold.com
Tel: +1 778 262 2331
Qualified Person
The technical content of this news release has been reviewed, verified and approved by Callum Spink, the Company's Vice President, Exploration, who is a member of the Australian Institute of Geoscientists, MAIG, and a Qualified Person as defined by National Instrument NI 43-101 Standards of Disclosure for Mineral Projects. Mr. Spink is responsible for the technical content of this news release. Mr. Spink is not independent of the Company.
About Great Pacific Gold
Great Pacific Gold has a portfolio of exploration-stage projects in Papua New Guinea ("PNG"). The Company is focused on developing gold-copper resources from its highly prospective land packages. Its core projects include:
- Kesar Project: located in the Eastern Highlands province of PNG and contiguous with the mine tenements of K92 Mining Inc. ("K92"), the Kesar Project is a greenfield exploration project with several high-priority targets in close proximity to the property boundary with K92. Multiple epithermal veins at Kesar are on strike and have the same orientation as key K92 deposits, such as Kora. Exploration work to date by the Company at the Kesar Project has shown that these veins have high grades of gold present in outcrop and very elevated gold in soil grades, coincident with aeromagnetic highs. The Company conducted a diamond drill program on key target areas at the Kesar Project from November 2024 to May 2025.
- Wild Dog Project: located in the East New Britain province of PNG, the Wild Dog Project is a brownfield exploration project with a history of small-scale gold mining. The Wild Dog Project contains numerous epithermal and porphyry hydrothermal-magmatic targets evidenced by previous exploration and operations. The Company completed a road refurbishment in August 2024 and baseline environmental work in Q4 2024. In Q1 2025, the Company began preparing for a drilling program with camp and infrastructure being established, airborne geophysics (MobileMT) survey completed and a geological team in place. A first phase of diamond drilling is underway on the property.
- Arau Project: located in the Eastern Highlands province of PNG, the Arau Project contains the highly prospective Mt. Victor exploration target with potential for a high sulphidation epithermal gold-base metal deposit. A Phase 1 Reverse Circulation drilling program was completed at Mt. Victor in August 2024, with encouraging results. The Arau Project includes the Elandora licence, which also contains various epithermal and copper-gold porphyry targets.
The Company also holds the Tinga Valley Project in PNG.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Great Pacific Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Great Pacific Gold's limited operating history, its exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Great Pacific Gold does not undertake to publicly update or revise forward-looking information.
Mineralization at the properties held by K92 Mining is not necessarily indicative of mineralization at the Kesar Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261877
FAQ
How much did Great Pacific Gold (FSXLF) receive for selling its Future Consideration rights?
What assets does Great Pacific Gold (FSXLF) still hold in Australia after recent sales?
What is the status of Great Pacific Gold's Walhalla Project spin-out?
What are the key features of Great Pacific Gold's Walhalla Project?
What was the total value of upfront payments received from Adelong Gold for the asset sales?
