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Eldorado to earn into TRU’s Golden Rose

1st August 2024

By: Creamer Media Reporter

     

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Exploration company TRU Precious Metals has granted gold miner Eldorado Gold an option to acquire 80% of its Golden Rose project, in central Newfoundland.

Cofounder and CEO Joel Freudman says the partnership with Eldorado is a strong endorsement for the work completed since optioning the initial land package from Altius Minerals in 2021.

“Eldorado’s expenditures under the option agreement will accelerate the advancement of the project’s gold and copper potential, while the cash payments will help fund TRU’s corporate overhead as we remain operator of the project,” he says.

In total, Eldorado must make payments of C$8.25-million in cash and C$7-million in exploration expenditures.

Eldorado has mining operations in Türkiye, Canada and Greece.

Edited by Creamer Media Reporter

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