GoldArc to Consolidate Leonora South Gold Corridor

• GoldArc enters into agreement to acquire Niagara West and North tenements from Regener8 Resources NL
• Acquisition extends GoldArc's Leonora South Gold Corridor
• High-grade gold intercepts from historical and recent drilling highlight prospectivity

GoldArc Resources Limited (ASX:GA8) has entered into a binding agreement to acquire the Niagara West and North tenement package from Regener8 Resources NL (ASX:R8R). The acquisition comprises seven tenements located adjacent to GoldArc's existing Leonora South Gold Project in the Kookynie Goldfields of Western Australia. The acquisition is subject to GoldArc shareholders approving the issue of fully paid ordinary GoldArc shares as consideration. The package includes high-grade gold intercepts from historical and recent drilling, highlighting the prospectivity of the area. The acquisition will be funded by an upfront consideration of A$1.5 million in GA8 shares at $0.07 per share, with additional contingent consideration of A$1 million payable in two tranches contingent on achieving certain mineral resource milestones.

GoldArc expects the acquisition to fill an important gap in its Kookynie tenure and provide a clear geological framework for exploration moving forward.