Mineros S.A. to Acquire a Gold Exploration Project in Tolima, Colombia

Core Insights - Mineros S.A. has entered into a definitive agreement to acquire a 100% interest in a gold exploration project in Tolima, Colombia from AngloGold Ashanti PLC, acquiring all outstanding shares of AngloGold Ashanti Colombia S.A.S. [1] - The acquisition reflects Mineros' commitment to responsible mining in Colombia, leveraging its local expertise and community engagement [1] - The transaction is structured on a cash-free, debt-free basis, with a total consideration including up to $60 million contingent on mineral ore tonnage and $10 million payable at closing [1] Transaction Details - The acquisition will be completed on a cash-free, debt-free, zero net working capital basis [1] - The consideration includes contingent payments of up to $60 million linked to mineral ore tonnage and $10 million in cash at closing [1] - The transaction is expected to close in the first quarter of 2026, pending customary conditions [1] Project Overview - The project, historically known as La Colosa, is located approximately 150 km west of Bogotá and 30 km west of Ibagué [1] - Exploration activities have been largely suspended since 2017 due to delays in obtaining environmental permits [1] - The historical mineral resource estimate includes 4.98 million ounces of inferred resources at an average grade of 0.71 g/t and 23.35 million ounces of indicated resources at an average grade of 0.87 g/t [1] Community Engagement Strategy - Mineros plans to redefine the project's identity, moving away from its historical legacy and initiating a collaborative process with local stakeholders [1] - The new project identity will reflect shared values and local perspectives, emphasizing environmental stewardship and social responsibility [1] - Advancement of the project will depend on achieving regulatory clarity, environmental authorization, and community consensus [1] Company Background - Mineros S.A. is a leading Latin American gold mining company headquartered in Medellín, Colombia, with over 50 years of operating history [1] - The company operates a diversified portfolio of assets in Colombia and Nicaragua and maintains a pipeline of development and exploration projects [1]