Black Dragon Gold completes sale of Padbury Gold assets

Black Dragon Gold (ASX: $BDG) has successfully executed the sale of Padbury Gold tenements E51/1942 and E51/1969 to Parbo Resources for a cash consideration of AUD$150,000. The sale, which includes the Padbury Gold and adjoining Padbury Gold Extension tenements totaling 366km2, was completed under a binding Tenement Sale and Purchase Agreement. Black Dragon retains the 115km2 Ivan Well tenement (E69/3818) near Wiluna in the northern Goldfields.

Executive Chairman Dominic Roberts' Commentary

This has been a seamless transaction and we are pleased to have executed the divestment rapidly with Parbo Resources to inject $150,000 into our Company treasury. In the short-term, this funding will assist continued activity related to our flagship 1.5Moz plus Salave Gold Project in Spain, which is currently undergoing land rezoning and environmental permitting approvals.

Summary of Black Dragon Gold's Padbury Gold asset sale

Black Dragon Gold (ASX: $BDG) has completed the 100% sale of Padbury Gold assets to Parbo Resources for a cash consideration of AUD$150,000. The company retains the Ivan Well tenement near Wiluna in the northern Goldfields. The cash from the sale will boost BDG funding activity relating to the Salave Gold Project in northern Spain, which is currently undergoing land rezoning and environmental permitting approvals. This divestment aligns with the company's strategy to focus on its flagship Salave Gold Project and signifies a step towards strengthening its financial position for future endeavors.