Critical Resources to acquire Suriname gold project for US$2M

• Critical Resources has secured exclusive terms to acquire a 90% interest in the Gonini Gold Project in Suriname.
• Shares in the business rose 14.29% following the announcement of the acquisition terms.
• The company plans to use the 164-square-kilometre project to establish a regional gold exploration hub in the Guiana Shield.

Critical Resources (ASX:CRR) has agreed to terms to buy a 90% stake in the Gonini Gold Project in Suriname for up to US$2 million in cash plus shares.

The deal gives the business access to two mining rights covering 164 square kilometres that run through August 2030.

"We believe Gonini gives Critical Resources a rare first-mover position on the ASX: a large, granted gold tenure package in Suriname at a time when global mining capital is increasingly recognising the discovery potential of the Guiana Shield,” said Critical Resources Managing Director Tim Wither.

Upfront costs include US$250,000 in cash, 10 million shares, and a US$2.5 million exploration spending commitment over five years.

The company stated that the project will serve as the foundation for a broader regional gold growth strategy.

Following the announcement, the Critical Resources share price was up at $0.0080.

The property features extensive historical small-scale mining activity, though no modern systematic exploration results have ever been recorded.

Work will begin immediately with data analysis and local community outreach ahead of an initial field sampling programme in the dry season.