Gunsynd PLC (LSE:GON) has signed a farm-in agreement over two uranium-copper-cobalt exploration sites in Canada.
The AIM-listed company is paying £150,000 in shares and £50,000 cash to acquire a 100% legal and beneficial interest from Pinwheel Resources of the Falcon Lake project and Bear-Twit VMS project.
Gunsynd has committed to minimum funding of £200,000 over two years for agreed work programmes and a right of first refusal on certain additional uranium licences that Pinwheel is in the process of securing.
Pinwheel is to be appointed as initial operator of the projects.
Gunsynd chairman Hamish Harris said: "These acquisitions align with our strategic objective of expanding our portfolio with high-potential exploration assets."