AUE's acquisition of Boundiali South tenement and ongoing exploration

Aurum Resources Limited (ASX: $AUE) has signed a binding term sheet to acquire 100% interest in the advanced Boundiali South exploration tenement (PR-414) adjacent to its existing Boundiali Gold Project in Côte d'Ivoire, West Africa. The acquisition follows impressive exploration results, including high-grade gold intercepts, and the company's plan to increase drilling capacity to accelerate exploration diamond drilling at Boundiali with the goal of defining an initial resource by the end of CY 2024. Aurum's strong cash balance of $3.9M as of 29 February 2024, with a further $3.3M expected following shareholder approval from a recent $7.0m capital raising, supports its accelerated exploration efforts.

AUE's Managing Director on the Boundiali South acquisition

Aurum's Managing Director Dr. Caigen Wang expressed satisfaction with the acquisition, stating, 'We are very pleased to be able to secure such an advanced gold tenement to the immediate south of our highly prospective Boundiali Gold Project in Côte d'Ivoire. The wide and high-grade gold intercepts at the BST tenement are well in line with our recently reported excellent gold intercepts such as 73m@2.15q/t and 4 other diamond holes on the BD tenement. The combination of the three Boundiali tenements, the BD tenement and now the BST tenement, not only increases our prospective land holding but also enhances our confidence in defining large quantity of gold resources in 2024 and afterwards.'

AUE's outlook and corporate strategy

Aurum Resources' acquisition of the Boundiali South tenement in Côte d'Ivoire, along with the ongoing high tempo gold exploration drilling and increased drilling capacity, reflects the company's commitment to expanding its exploration footprint and defining an initial resource by the end of CY 2024. The company's strong cash balance and the expected funds from a recent capital raising provide the financial support to accelerate its exploration efforts. With the acquisition of the BST tenement and the ongoing exploration activities, Aurum aims to enhance its confidence in defining large quantities of gold resources in 2024 and beyond. The company's outlook remains focused on advancing its exploration activities and leveraging the potential of the Boundiali Gold Project in Côte d'Ivoire.