Thackeray Mines & Minerals Inc. to Acquire Bendime Mining Project in Nova Scotia

Thackeray Mines & Minerals Inc. have entered into a definitive purchase agreement with Bendime Mining to acquire a 100% interest in the gold project, which lies approximately 35 kilometers southwest of their Catcha Lake Project in Nova Scotia.

To acquire the asset, Thackeray Mines & Minerals Inc. make a USD $3.7 million payment to the vendor on closing and issue 18,000 warrants shares. In addition, Bendime Mining will receive royalties of ten percent of total production until December 2027.

"We are very pleased to confirm the addition of the Bendime Mining project to our existing project portfolio," said Mr. Anton Windsor, the Chief Operations Director at Thackeray Mines & Minerals Inc.

"The site has a great track record of successful gold production and we believe that the open pit and underground historical resources at the project could possibly be some of the highest-grade in the area based on our initial exploration results completed on the property which will very quickly part of our company's best producing mines," Anton Windsor added.

Bendime Mining were operating the open pit mining site between 1991 and 2002 with underground test mining completed in the early 2010s but the mine has been under care and maintenance only since 2021.

The closing of this deal between the two companies is expected to take place in the fourth quarter, subject to regulatory and third-party approvals with Thackeray Mines & Minerals Inc. already having approval to purchase further land surrounding the Bendime Mining project.