Eagle Mountain Mining's acquisition of Cochise claim

Eagle Mountain Mining Limited (ASX: $EM2) has exercised its right of first refusal to acquire approximately 15 acres of the Cochise patented claim adjacent to existing patented claims owned by the Company. The acquisition is for 100% of the surface rights and is critical to the longevity of operations at the Oracle Ridge mine as the existing access lease expires in 2036. The acquisition terms amount to US$325,000, comprising a down payment of US$200,000 and a secured seller's loan of US$125,000 over a 5-year period at 6% interest per year.

Eagle Mountain Mining CEO's commentary on Cochise claim acquisition

The acquisition of the Cochise claim is a positive development for the Oracle Ridge Copper Project. Ownership of this land assists future haulage access and infrastructure between the mine and the tailing storage facility. As a future operation at Oracle Ridge is likely to extend beyond the term of the current access agreement to 2036, it is important as part of our development strategy to acquire key landholdings ahead of a decision to restart operations.

Summary of Eagle Mountain Mining's Cochise claim acquisition

Eagle Mountain Mining (ASX: $EM2) has successfully acquired the Cochise patented claim, which is crucial for the Oracle Ridge Copper Project's long-term operations. The acquisition provides opportunities for infrastructure development, drill sites targeting mineral systems, and avoids substantial lease payments. The acquisition supports the ongoing Scoping Study for the development of Oracle Ridge, with an outlook for future exploration activities to broaden the understanding of OREX and Golden Eagle targets. The Company's strategic acquisition reflects its commitment to securing key landholdings and infrastructure for the Oracle Ridge mine's future operations.