Black Dragon Gold Corp. (ASX:BDG) agreed to acquire Marlee Gold Pty Ltd for AUD 2.2 million on July 6, 2022. Marlee Gold holds two 100% owned projects – Padbury Gold (366km2) and Ivan Well (115km2). The consideration for the acquisition of Marlee Gold comprises AUD 10,000 fee for exclusive due diligence, AUD 0.07 million in cash, 1.4 millions shares and 1 million unlisted options exercisable at AUD 0.098 each and an expiry date of 24 months from date of issue (Initial Consideration Options). The Initial Consideration Shares and Initial Consideration Options will be issued on or about 11 July 2022 pursuant to the Company's placement capacity under ASX Listing Rule 7.1. Royalty: Net smelter royalty of 1.5%. Deferred consideration: of: AUD 1 million payable in cash or shares subject to Black Dragon announcing to ASX a mineral resource estimate (of at least indicated category) for the Marlee Gold project(s) in accordance with the JORC Code of at least 500,000 ounces of gold at a grade of at least 2 grams per tonne. B. AUD 1 million payable in cash or shares subject to Black Dragon announcing to ASX a mineral resource estimate (of at least indicated category) for the Marlee Gold project(s) in accordance with the JORC Code of an additional 500,000 ounces of gold at a grade of at least 2 grams per tonne. The election to pay the deferred consideration in cash or shares is at the sole discretion of Black Dragon. Should Black Dragon elect to issue shares, the deemed issue price will be equal to the 20-day VWAP to the date of satisfaction of the relevant milestone. The option period expires on 30 January 2030 and allows Marlee Gold to explore on P51/3158 and purchase the prospecting license outright for AUD 100,000 with AUD 1 per ounce payable on resources.

Black Dragon Gold Corp. (ASX:BDG) completed the acquisition of Marlee Gold Pty Ltd on July 28, 2022.