VANCOUVER, BC, Jan. 31,
2024 /CNW/ - OceanaGold Corporation (TSX: OGC)
(OTCQX: OCANF) ("OceanaGold" or the "Company") is pleased to
announce the execution of a Sale and Purchase Agreement ("SPA")
with Tasman Mining Limited ("Tasman"), a wholly owned subsidiary of
Federation Mining Inc. ("Federation"), to acquire OceanaGold's
interest in the Blackwater project in New
Zealand. The execution of the SPA follows the receipt of
formal notice from Tasman to exercise its exclusive option on
Blackwater, which has been held under a Project Deed since
July 2018.
Under the terms of the SPA, OceanaGold is to receive
US$30 million in cash upon closing of
the transaction. The SPA is subject to a number of conditions
including regulatory approval and is expected to close in 2024.
For further details and background on the Blackwater option
see the Company's most recent AIF (Section 11.4 Other Projects).
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer
committed to safely and responsibly maximizing the generation of
Free Cash Flow from our operations and delivering strong returns
for our shareholders. We have a portfolio of four operating mines:
the Haile Gold Mine in the United States
of America; Didipio Mine in the
Philippines; and the Macraes and Waihi operations in
New Zealand.
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SOURCE OceanaGold Corporation