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Aruma acquiring Westgold's Trojan gold property to expand Slate Dam

Aruma Resources Ltd. entered into a binding agreement with Westgold Resources Ltd. subsidiary HBJ Minerals Pty. Ltd. to acquire the past-producing Trojan gold property in Western Australia for 6 million shares.

Aruma said March 15 that the acquisition expands the land position of its early stage Slate Dam gold project area by 8.75 square kilometers, noting that historical production from the open pit at Trojan totaled 130,000 ounces of gold.

The Trojan open cut extension hosts indicated and inferred resources containing 144,814 ounces of gold within 2.8 million tonnes grading 1.61 g/t of gold using a cutoff of 0.70 g/t of gold.

Aruma Resources will evaluate the Trojan database over the coming months, with plans to further investigate mineralization under and around the Trojan open pit alongside targeted exploration.