G50 Corp Limited (G50 Corp Limited or the Company) (ASX: G50) has entered into an agreement with Renegade Exploration Limited (ASX: RNX) to assign its rights to purchase the Broken Hills, Caisson, Spitfire and Top Gun properties for nil consideration, with Renegade to assume all future asset obligations.
The transaction is expected to close on or before May 31st , 2025. The transaction allows for the divestment of non-core assets and enables G50 to streamline its project portfolio and focus its resources on continuing to deliver shareholder value at its Golconda project in Arizona and White Caps project in Nevada. Recent exploration success at Golconda including a large gallium halo discovery and high-grade precious metals discovery has culminated in a significant increase in activity at Golconda in 2025.
A multi month RC drilling program, first phase mineralogy test work and early-stage discussions with US government and partner initiatives remain our focus. The company also completed a maiden 4,500ft RC drilling program at its White Caps project in Nevada earlier this year and it will remain a core project for the G50 team. The company currently holds capitalised exploration costs of $2.34m USD regarding the divested portfolio.
G50 Corp MD Mark Wallace is a NED of Renegade Exploration
This announcement has been approved for release by the Board of G50.
Contact:
Rob Reynolds
Chairman
G50 Corp Limited
Email: queries@g50corp.com
Tel: +61 2 8355 1819
ABOUT G50
G50 is an exploration company focussed on the South West of the United States of America. G50 currently operates in Arizona at its Golconda Project and in Nevada at its White Caps Project.
(C) 2025 Electronic News Publishing, source ENP Newswire