Published: May 31, 2016 |

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Sarama Resources Ltd. has signed a binding heads of agreement with Orezone Gold Corporation for the company to acquire the Bondi gold deposit. Bondi is 100 percent owned by Orezone and is located immediately adjacent to Sarama’s South Houndé Project in southwestern Burkina Faso.

Completion of the acquisition will bolster Sarama’s position in the region, consolidating ownership of advanced assets in the highly prospective Houndé Belt and providing significant optionality for the development of a mine in the region.

Sarama and Orezone anticipate completing a definitive agreement in respect of the Bondi acquisition in the coming weeks.

“Sarama is excited to have entered into this agreement with Orezone to acquire the Bondi deposit. Orezone has undertaken a great deal of work on the deposit which complements our South Houndé Project and is expected to be highly accretive to Sarama on a NAV per share basis. We are also pleased that a successful industry player like Orezone recognizes the value of combining the projects and starting the consolidation of the highly prospective southern Houndé Belt,” said Sarama’s President and CEO, Andrew Dinning.

“We look forward to the completion of this transaction which will result in Sarama having significant interests in three advanced gold projects in the region which the company sees as providing optionality and pathways for potential project development. We would also like to welcome Orezone to Sarama’s register as a significant shareholder and look forward to realizing the mutually beneficial outcomes that this transaction can deliver,” added Dinning.

About Sarama Resources Ltd
Sarama Resources Ltd is a West African focused gold explorer with substantial landholdings in Burkina Faso. Sarama is focused on consolidating under-explored landholdings in Burkina Faso and other established mining jurisdictions. Sarama’s flagship properties are situated within the company’s South Houndé Project area in southwest Burkina Faso. Sarama holds a 30 percent participating interest in the Karankasso Project joint venture, which is situated adjacent to the company’s South Houndé Project in Burkina Faso and is a JV between Sarama and Savary Gold Corp. Sarama has also agreed to acquire a 100 percent interest in the Bondi gold deposit from Orezone Gold Corporation. Together, the South Houndé Project, Bondi deposit and the Karankasso Project form a cluster of advanced gold deposits, within trucking distance of one another, which potentially offers a development option for a multi-source fed central processing facility in the southern Houndé Belt region of Burkina Faso.

Incorporated in 2010, the company’s board and management team have a proven track record in Africa and a strong history in the discovery and development of large-scale gold deposits. Sarama is well positioned to build on its current success with a sound exploration strategy across its property portfolio.

To stop by Sarama’s website, CLICK HERE

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