Triton Minerals (ASX:TON) acquires Aucu Project in Mozambique

Triton Minerals Limited (ASX:TON) has entered into a binding memorandum of Understanding to acquire up to 80% of the 'Aucu' project, a highly prospective gold and copper project located in the province of Tete in central west Mozambique.

Executive Commentary on Aucu Project Acquisition

We are excited to be acquiring the Aucu Project located in a highly prospective and prolific part of the Tete province in central west Mozambique. The scale of the Project area, favourable geological setting, historic copper and gold showings and the complete lack of modern exploration presents the company with a unique exploration opportunity upon closure of this potential acquisition. We are look forward to completing the transaction and commencing field work and generating drilling targets in the near term. The Company considers the Project to be highly prospective for a number of commodities, primarily Gold and Copper and its scale, location, favourable geological setting and truly underexplored status presents a unique exploration opportunity to the company.

Summary of Triton Minerals' Aucu Project Acquisition

Triton Minerals Limited (ASX:TON) has successfully entered into a binding memorandum of Understanding to acquire up to 80% of the 'Aucu' project, a highly prospective gold and copper project located in the province of Tete in central west Mozambique. The Project comprises a large landholding of 588km2 within close proximity to the provincial capital city and regional service centre of Tete in Mozambique, major infrastructure, and nearby producing gold and coal mines. The acquisition represents the first of the planned business development activities with the goal of increasing shareholder value. The Project is strategically located, enhancing logistical feasibility and access to established mining facilities, potentially streamlining future development initiatives in the event of a discovery. Triton's Executive Director and COO, Adrian Costello, expressed excitement about the acquisition, highlighting the unique exploration opportunity presented by the Project's scale, location, and underexplored status. The Company's refreshed Corporate Objective aims to deliver long-term shareholder value through successful exploration, acquisition, and Project development and operations of mineral deposits. Triton has already commenced additional business development activities, identifying and assessing a number of opportunities in Australia and Africa across a range of commodities. The acquisition of the Aucu Project marks the first step in delivering the strategic plan, with the Company's ambition to become a small to mid-tier resource company in the short to medium term through the discovery, acquisition, and development of small to medium economic mineral deposits. The Project's expansive land area represents a significant opportunity for exploration and development within the region, and Triton is set to commence initial project works, including field mapping, rock chip/soil sampling, aeromagnetic study, and a first pass drilling program, subject to the approval of the INAMI application. The Company's Business Strategy aims to achieve the corporate objective by becoming a small to mid-tier resource company, generating free cash flow to fund corporate overheads, exploration activity, development, and acquisition of further projects. Triton's future exploration programs will initially follow-up preliminary targets generated from regional soil sampling and limited reconnaissance drilling programs, with the Project now available for systematic and modern-day exploration programs to be conducted on a broad scale. The Company's ambition, through the acquisition of the Aucu Project, is to capitalize on the highly prospective nature of the Project for commodities such as Gold and Copper, leveraging its scale, location, and underexplored status to drive successful exploration and potential discovery.