Bryah Resources Seals Deal for Golden Pike Gold Project in Canada

Strategic Acquisition in a Tier One Jurisdiction

Australian explorer Bryah Resources Limited has taken a decisive step in expanding its portfolio by signing a formal contract to acquire 100% ownership of the Golden Pike project, a high-grade gold and antimony asset located in New Brunswick, Canada. This move follows the exercise of an option agreement with Globex Mining Enterprises, signalling Bryah's commitment to growth beyond its established Australian base.

The Golden Pike project is notable for its rich mineralisation, offering Bryah a foothold in a globally recognised mining jurisdiction. The acquisition aligns with the company’s strategy to build a diversified portfolio of high-quality mineral assets, complementing its existing projects in Western Australia and Canada.

Financial and Operational Commitments

The contract outlines a structured payment schedule totaling CAD 1.78 million, split between cash and share components payable over four years. Bryah will make an initial payment of CAD 280,000 upon contract execution, with subsequent payments escalating to CAD 800,000 by 2028. Importantly, the share payments will be issued under ASX listing rule 7.1, priced according to the five-day volume weighted average price prior to issuance and adjusted for currency exchange rates.

In addition to the acquisition payments, Bryah is obligated to invest CAD 3 million in exploration activities on the Golden Pike mineral claim over the same four-year period. This exploration commitment underscores the company’s intent to advance the project’s development and unlock its resource potential.

Royalty Structure and Future Flexibility

Globex Mining Enterprises will retain a gross metal royalty (GMR) of 2% on the first 20,000 ounces of precious metals produced, increasing to 3% thereafter on all metals and minerals extracted. Bryah holds an option to buy back 1% of the 3% royalty for CAD 1 million before production reaches the initial 20,000-ounce threshold, providing some flexibility to manage future royalty costs.

This royalty arrangement balances Globex’s ongoing interest in the project’s success with Bryah’s need to control operating costs as it advances exploration and potential development.

Broader Portfolio Context

The Golden Pike acquisition complements Bryah’s existing assets, including its manganese joint venture with OM Holdings in the Bryah Basin and copper-nickel resources at Gabanintha. The company’s diversified holdings span multiple commodities and jurisdictions, positioning it to capitalise on evolving market opportunities.

CEO Greg Hill has emphasised the strategic value of the Golden Pike project, highlighting its high-grade nature and the potential to add significant value through focused exploration. The acquisition also strengthens Bryah’s presence in Canada, a Tier One mining jurisdiction known for its stable regulatory environment and rich mineral endowment.