American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to announce that it has entered into a definitive agreement, pursuant to which the Company will acquire all of the issued and outstanding common shares of Clearview Gold Inc (“Clearview”), a private exploration company that is part of the NewQuest Capital company.
The transaction further cements American Pacific as a premier exploration and development company, well-positioned to deliver results from three projects being aggressively advanced under strategic partnerships with well-respected major metal producers, as well as offer compelling organic growth from a highly prospective pipeline of 100%-owned mineral exploration projects.
Clearview owns three gold projects located in world-class mining districts of Nevada, including the Round Mountain, Carlin and Eureka trends. The Ziggurat Project, located on the northern end of the Round Mountain trend and proximal to the Northumberland Mine, is currently under a joint venture agreement with Centerra Gold Inc (TSX: CG / NYSE: CGAU) (“Centerra”). Centerra has the option to spend up to US $6 million to earn 70% of the project over five years. Presently, Centerra is in year two of the earn-in arrangement and has plans to aggressively explore the project in 2023.
The Danny Boy Mine property is located on the northern extension of the Carlin trend, adjacent to American Pacific’s Tuscarora property. Clearview has been exploring for epithermal and Carlin-type gold.
The Alpha Project is proximal to the Carlin and Battle Mountain-Eureka trends and previous exploration has targeted near-surface Carlin-type oxide gold.
“The strategic rationale of the transaction is compelling on many levels: it provides American Pacific shareholders with the opportunity to participate in an even more diversified portfolio, which includes three active exploration projects partnered with major mining companies—Rio Tinto, Dowa Metals and Mining and now Centerra—plus discovery exposure with a growing portfolio of highly prospective exploration assets in the western USA,” says Warwick Smith, CEO of American Pacific. “This private acquisition strengthens our position to create value for all stakeholders.”
