Royalty Portfolio Update: Calidus Consolidates Key Warrawoona Tenements

Trident Royalties Plc (AIM:TRR, FSX:5KV), the growth-focused mining royalty and streaming company, is pleased to note the announcement on 1 February 2021 by ASX-listed Calidus Resources Limited (“Calidus”)* that it has successfully consolidated key exploration and infrastructure tenements** as part of the broader Warrawoona Gold Project (“Warrawoona” or the “Project”). Calidus previously owned the tenements in a joint venture arrangement with TSX-listed Novo Resources Corp (“Novo”) and is now moving to 100% ownership.

Trident has a binding agreement to acquire a 1.5% Net Smelter Royalty over the eastern part of the planned Warrawoona mine through tenement E45/3381 (which is pending conversion to Mining Lease M45/1290***). The acquisition is expected to complete in Q1 2021. Trident announced the Warrawoona Royalty acquisition on 28 August 2020.

Calidus Resources Managing Director Dave Reeves said:

“The purchase of the 30% interest in these tenements not only consolidates ownership in these key exploration and infrastructure tenements but also assists greatly in funding and operational administration by reducing cross ownership and guarantee structures. We are well on track to start main construction activities at Warrawoona this quarter, with final operating approvals expected shortly.”

Adam Davidson, Chief Executive Officer and Executive Director of Trident commented:

“We are pleased to note Calidus’ continued positive momentum as it progresses the 1.5Moz Warrawoona Gold Project, over part of which Trident holds a 1.5% Net Smelter Royalty. Calidus has achieved a number of important financing and development milestones at Warrawoona subsequent to Trident announcing the acquisition of the royalty as part of a portfolio of four gold royalties on 28 August 2020.

“The consolidation, which does not fundamentally impact the royalty, is another meaningful step by Calidus toward operation and further de-risks Trident’s investment. We look forward to following developments at the project as main construction commences in Q1 2021.”

References

* Source: Calidus Resources press release dated 1 February 2021 (https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02336194-6A1018144?access_token=83ff96335c2d45a094df02a206a39ff4)

** Source: General Purpose Leases are for mine infrastructure purposes such as operating machinery, depositing or treating mining tailings, etc. and are valid for a period of 21 years (renewable). The royalty tenement E45/3381 footprint includes General Purpose mine infrastructure leases G45/345 and G45/349.

*** Source: Government of Western Australia Mineral Titles Online search result. Search date 1 February 2021 (https://emits.dmp.wa.gov.au/emits/enquiry/home2.xhtml ,and Tengraph system https://tgw.dmp.wa.gov.au/tgw/# )