eMetals' strategic acquisition in Uganda

eMetals (ASX:EMT) has announced the successful acquisition of an 80% interest in the Mubende Gold Project located in central Uganda. The recent exploration activities in the area have confirmed gold mineralisation, extending beyond the current workings. The company remains well-funded to further its exploration efforts.

eMetals' exploration and strategic outlook

eMetals (ASX:EMT) has made notable progress in its exploration activities with the acquisition of an 80% stake in the Mubende Gold Project in Uganda. Initial exploration efforts, including soil and rock-chip sampling, have confirmed gold mineralisation, indicating substantial potential for future gold production. Despite limited activities this quarter at the Meka and Salmon Gums projects in Australia, the company remains well-positioned financially, with a cash balance of $3.264 million, to support ongoing and future exploration initiatives. eMetals aims to advance its projects, focusing on unlocking the value of its diversified exploration portfolio while being mindful of associated risks and uncertainties.

Executive commentary on Mubende Gold Project

The acquisition of the Mubende Gold Project represents a significant step for eMetals in expanding our exploration portfolio. The initial exploration results are promising, and we are looking forward to further evaluating the project's potential.