Argent Minerals to aquire new gold tenements

Company News

Argent Minerals Ltd (ASX:ARD) will acquire gold tenements from Barrick Gold Corporation for $5.7 million and 350,000 of its shares.

Argent has entered into an exclusivity period with Barrick, in respect to the acquisition of the Bullant Tenement Package near Kalgoorlie. Argent has paid Barrick a non-refundable deposit to secure exclusivity.

The board expect the agreement to be made within 21 days, pending shareholder agreement and regulatory approval.

Argent has also announced board changes: Jamie Ogilvile has resigned and Douglas Daws, Christopher Daws and Steve Gimell have been appointed as three new directors.

Argent Minerals reported a loss of $1.60 million for the year ending 30 June 2009.

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