Mako Mining to Acquire Mt. Hamilton Gold-Silver Project in Nevada

Mako Mining Corp. has announced its plan to acquire the Mt. Hamilton Gold-Silver Project in Nevada. This acquisition will include the entire ownership of Mt. Hamilton LLC. The project, approved for open-pit heap leach mining, holds significant gold and silver resources. Additionally, the project contains an independent tungsten target, identified as a metal critical to U.S. national interests.

The acquisition involves a transaction with Sailfish Royalty Corp., without issuing new equity. Mako will transfer ownership through a gold stream arrangement and a 2% net smelter return royalty. The project spans 4,530 acres, including federal and privately owned land, with exploratory drilling revealing potential tungsten, copper, and molybdenum mineralization.

Sailfish will initially acquire MH LLC for $40 million financed through Wexford Capital affiliates. Upon completion, Mako aims to develop the tungsten-copper-molybdenum target quickly, addressing the U.S. supply needs.