Sabre Resources Ltd. agreed to acquire Scarce Minerals Pty. Ltd., which holds the 15-square-kilometer Beacon gold project in Western Australia.

The tenement adjoins the southern boundary of Sabre's recently acquired Bonanza gold project and will increase its footprint to 33 square kilometers in the highly prospective gold district.

The company said Aug. 15 that it will issue 6.0 million common shares and 6.0 million options exercisable at 0.8 Australian cent per share before Sept. 30, 2022.