Jupiter Gold Acquires Licensed Iron Ore Mine and Expands its Mineral Portfolio
Jupiter Gold (JUPGF) has announced a merger agreement with Apollo Resources , acquiring its permitted iron ore project in Brazil's Iron Quadrangle region. The flagship asset, the Rio Piracicaba Project, spans 260 hectares with identified resources of 7.85 million tonnes of iron ore averaging 31.53% grade. Metallurgical studies show the ore can be processed to 64.8% grade. The project received a 10-year renewable mining license in May 2024. Apollo Resources shareholders will receive Jupiter Gold shares in exchange for their holdings. The deal includes additional mineral rights for iron ore, rare earths, graphite, and copper.
Jupiter Gold (JUPGF) ha annunciato un accordo di fusione con Apollo Resources, acquisendo il suo progetto minerario di ferro autorizzato nella regione del Quadrilatero Ferroviario in Brasile. L'asset principale, il Rio Piracicaba Project, si estende per 260 ettari con risorse identificate di 7,85 milioni di tonnellate di minerale di ferro con una media del 31,53% di grade. Gli studi metallurgici mostrano che il minerale può essere trattato fino a un grado del 64,8%. Il progetto ha ricevuto una licenza mineraria rinnovabile di 10 anni nel maggio 2024. Gli azionisti di Apollo Resources riceveranno azioni di Jupiter Gold in cambio delle loro partecipazioni. L'accordo include diritti minerari aggiuntivi per minerale di ferro, terre rare, grafite e rame.
Jupiter Gold (JUPGF) ha anunciado un acuerdo de fusión con Apollo Resources, adquiriendo su proyecto de mineral de hierro autorizado en la región del Cuadrángulo de Hierro de Brasil. El activo insignia, el Proyecto Rio Piracicaba, abarca 260 hectáreas con recursos identificados de 7.85 millones de toneladas de mineral de hierro con un grado promedio del 31.53%. Los estudios metalúrgicos muestran que el mineral se puede procesar hasta un grado del 64.8%. El proyecto recibió una licencia minera renovable por 10 años en mayo de 2024. Los accionistas de Apollo Resources recibirán acciones de Jupiter Gold a cambio de sus participaciones. El acuerdo incluye derechos minerales adicionales para mineral de hierro, tierras raras, grafito y cobre.
주피터 골드 (JUPGF)는 아폴로 리소스와의 합병 계약을 발표하며, 브라질의 철광석 다이아몬드 지역에 있는 허가된 철광석 프로젝트를 인수했습니다. 주요 자산인 리오 피라치카바 프로젝트는 260헥타르에 걸쳐 있으며, 31.53% 품질의 785만 톤의 철광석이 확인되었습니다. 제련 연구 결과, 이 광석은 64.8% 품질로 가공될 수 있습니다. 이 프로젝트는 2024년 5월에 10년 갱신 가능한 채굴 허가를 받았습니다. 아폴로 리소스의 주주들은 자신들의 지분에 대한 대가로 주피터 골드의 주식을 받을 것입니다. 이 거래에는 철광석, 희토류, 흑연 및 구리에 대한 추가 광물권이 포함됩니다.
Jupiter Gold (JUPGF) a annoncé un accord de fusion avec Apollo Resources, acquérant son projet de minerai de fer autorisé dans la région du Quadrilatère de Fer au Brésil. L'actif phare, le Projet Rio Piracicaba, s'étend sur 260 hectares avec des ressources identifiées de 7,85 millions de tonnes de minerai de fer avec une teneur moyenne de 31,53%. Des études métallurgiques montrent que le minerai peut être traité pour atteindre une teneur de 64,8%. Le projet a reçu une licence minière renouvelable de 10 ans en mai 2024. Les actionnaires d'Apollo Resources recevront des actions de Jupiter Gold en échange de leurs participations. L'accord inclut des droits miniers supplémentaires pour le minerai de fer, les terres rares, le graphite et le cuivre.
Jupiter Gold (JUPGF) hat eine Fusionsvereinbarung mit Apollo Resources angekündigt, mit der das genehmigte Eisenerzprojekt in der Eisen-Quadrant-Region Brasiliens übernommen wird. Das Flaggschiff-Asset, das Rio Piracicaba Project, erstreckt sich über 260 Hektar und verfügt über identifizierte Ressourcen von 7,85 Millionen Tonnen Eisenerz mit einem durchschnittlichen Gehalt von 31,53%. Metallurgische Studien zeigen, dass das Erz auf einen Gehalt von 64,8% verarbeitet werden kann. Das Projekt erhielt im Mai 2024 eine 10-jährige, verlängerbare Bergbaulizenz. Die Aktionäre von Apollo Resources erhalten im Austausch für ihre Anteile Aktien von Jupiter Gold. Der Deal umfasst zusätzliche Mineralrechte für Eisenerz, Seltene Erden, Graphit und Kupfer.
- Acquisition of permitted iron ore mine with 7.85 million tonnes of identified resources
- Project has 10-year renewable mining license already secured
- Ore can be upgraded to premium 64.8% grade through processing
- Expansion potential with only 10% of total property area explored
- Portfolio diversification with additional mineral rights for rare earths, graphite, and copper
- Current iron ore grade of 31.53% is relatively low, requiring processing to reach commercial grade
- Additional processing costs needed to achieve premium grade
Belo Horizonte, Brazil--(Newsfile Corp. - November 6, 2024) - Jupiter Gold Corporation (OTCQB: JUPGF) ("Jupiter Gold" or "Company") is pleased to announce that it has entered into a merger agreement with Apollo Resources Corporation ("Apollo Resources"), a private mineral exploration company with a permitted iron ore project in the Iron Quadrangle region of the state of Minas Gerais in Brazil. The transaction was evaluated by a special committee of the Company's Board of Directors (the "Board"), with RPM Global Holdings Limited serving as independent advisor to the special committee and the Board. Legal representation was provided by DLA Piper U.S. LLP and Seward and Kissel LLP.
The transaction, structured as a merger with Jupiter Gold as the surviving entity, was approved by the boards of directors of both companies on October 31, 2024. Under the terms of the merger agreement, the shareholders of Apollo Resources will receive Jupiter Gold shares in exchange for their holdings. Further transaction details are available in the Company's Form 6-K filed today with the Securities and Exchange Commission ("SEC").
The flagship asset of Apollo Resources is its mineral right 833.114/2012, known as the "Rio Piracicaba Project" for its location in a municipality with the same name in the Iron Quadrangle region of Minas Gerais. Within this property's total size of approximately 260 hectares, geological exploration has been conducted on ~23 hectares (less than
Metallurgical studies performed at SGS-Geosol laboratory in Vespasiano, Minas Gerais, a renowned facility for such studies, demonstrated that a representative sample from the ore derived from the Rio Piracicaba Project could be processed to
Apollo Resources' property portfolio also includes additional mineral rights for iron ore, rare earths, graphite, and copper, among other substances. These greenfield properties represent future exploration opportunities.
About Jupiter Gold Corporation
Jupiter Gold Corporation (OTCQB: JUPGF) owns a producing quartzite mine and several gold mineral rights in exploration phase. More information on Jupiter Gold is available at www.jupitergoldcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based upon the current plans, estimates and projections of Jupiter Gold Corporation and its subsidiaries (collectively, "Jupiter Gold" or "Company") and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events and regulatory changes; availability of capital; Jupiter Gold's ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.
Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled "Risk Factors" in the Company's Annual Report on Form 20-F filed with the SEC on April 12, 2024. Please also refer to the Company's other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.
Investor Relations:
Brian Bernier
VP, Investor Relations
Jupiter Gold Corporation
www.jupitergoldcorp.com
ir@jupitergoldcorp.com
@JupiterGoldCorp
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229059
FAQ
What is the size of the iron ore resource acquired by Jupiter Gold (JUPGF) in the Rio Piracicaba Project?
When did Jupiter Gold (JUPGF) receive the mining license for the Rio Piracicaba Project?
What grade can the iron ore be processed to at Jupiter Gold's (JUPGF) Rio Piracicaba Project?
