Evolution Mining Completes Acquisition of Battle North Gold
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Evolution Mining Limited has completed the acquisition of Battle North Gold Corporation.
On March 15, 2021 Evolution entered an agreement to acquire all of the outstanding shares of Battle North for a total consideration of approximately C$343 million. Battle North’s assets include the Bateman Gold Project, contiguous to Evolution’s Red Lake Operations in Ontario, Canada, and a large gold exploration land package on the Long Canyon gold trend near the Nevada-Utah border in the United States.
Evolution intends to provide further details on the long term outlook at the Red Lake Operation early in the September 2021 quarter post integrating the Battle North assets into an updated life of mine plan.
“This acquisition provides Evolution with an opportunity to expand our footprint in the region and create value by leveraging the infrastructure of the two operations. The additional processing capacity from the new Bateman mill will also accelerate our ability to achieve our objective of producing in excess of 300,000 ounces of gold per annum from Red Lake. In the 12 months that we have been operating at Red Lake we have demonstrated that we are a committed steward of the region,” said Evolution’s Executive Chairman Jake Klein.
“This expansion of our footprint will provide us with an opportunity to build on our track record as a safe and sustainable operator for the long term benefit of a broad range of stakeholders including the local workforce, regional communities and our Wabauskang and Lac Seul First Nation Partners,” added Klein.
“I would like to thank George Ogilvie and his Battle North team for their professionalism and engagement throughout the negotiation and integration process and wish them all the best for their future endeavors,” concluded Klein.
About Evolution Mining
Evolution Mining is a leading, growth-focused Australian gold miner. Evolution operates five wholly-owned mines — Cowal in New South Wales, Mt Carlton and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada. In addition, Evolution holds an economic interest in the Ernest Henry copper gold mine in Queensland.
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