Antilles Gold's Acceptance of Settlement Proposal

Antilles Gold Limited (ASX: $AAU) has agreed to the Dominican Republic Government's proposal to negotiate a Settlement Agreement with its subsidiary, EnviroGold (Las Lagunas) Limited, by July 31, 2024. This agreement aims to resolve all outstanding matters related to the Las Lagunas gold tailings retreatment project, which concluded in December 2019.

Executive Commentary

The Company is pleased to have accepted the Dominican Republic Government's proposal to negotiate a Settlement Agreement. This decision reflects our commitment to resolving all outstanding matters from the Las Lagunas project in a mutually beneficial manner. We believe that reaching a Settlement Agreement will provide clarity on the remaining commitments, including those arising from the recent Arbitration Award, and facilitate the completion of the Project Closure Plan. We are also actively progressing the sale of surplus plant and equipment as part of this process.

Summary of Settlement Proposal Acceptance

Antilles Gold Limited (ASX: $AAU) has accepted the Dominican Republic Government's proposal to negotiate a Settlement Agreement for its subsidiary, EnviroGold (Las Lagunas) Limited, by July 31, 2024. The agreement aims to address outstanding matters from the Las Lagunas gold tailings retreatment project, including commitments from a recent Arbitration Award, the sale of surplus plant and equipment, and the completion of items under the Project Closure Plan. The Company has also initiated the program for the sale of surplus assets, with offers for various items under consideration. The acceptance of the settlement proposal reflects the Company's dedication to resolving these matters in a timely and constructive manner, ultimately aiming to bring closure to the project and related obligations.