WE ARE EXPANDING OUR EXPLORATION AND DEVELOPMENT ACTIVITIES AROUND THE SÖĞÜT GOLD MINE

04.01.2022

Our company, Gübretaş Maden Yatırımları signed a contract on 03.01.2022 with 80% shareholder Teck Anadolu Mining Inc. for the purchase of 80% of Kavak Mining Inc.'s shares, which is the owner of license area 200709861 located within the borders of Bilecik province, with a price of 1.800.000 USD and 2% royalty. The statement made by Gübretaş to the Public Disclosure Platform on the subject is as follows:

“Our Subsidiary Gübretaş Maden Yatırımları, signed a contract on 03.01.2022 with 80% shareholder Teck Anadolu Mining Inc. for the purchase of 80% of Kavak Mining Inc.’s shares, which is the owner of license area 200709861 located within the borders of Bilecik province, with a price of 1.800.000 USD and 2% royalty. Following the signing of the contract, approval procedures will be carried out by the relevant official authorities for the share transfer.

Kavaklıtepe Gold Project within the license area number 200709861 owned by Kavak Mining Inc. is located approximately 30 km west of the Söğüt Gold Mine site and is currently in the exploration phase. With the acquisition of the shares of Kavak Mining Inc., it is aimed to expand our exploration and development activities around the Söğüt Gold Mine and to identify possible new mineral resources.”