Antler Gold Inc. has terminated the sale of its Erongo Central Gold Project in Namibia following a settlement agreement, bringing an end to a previously announced asset purchase deal.
The agreement, initially signed in September 2024 and amended in December 2024, was concluded between Antler, its subsidiary Antler Gold Namibia (Proprietary) Limited, and Fortress Asset Management LLC, whose interest had been assigned to Fortress Gold Ltd.
The settlement cancels the planned transfer of the Erongo Central Gold Project, with the parties confirming that the termination was reached without any admission of liability.
“Antler Gold Inc. is pleased to announce that it has reached a settlement to terminate the definitive asset purchase and sale agreement dated September 18, 2024, as amended on December 5, 2024, among Antler, its subsidiary Antler Gold Namibia (Proprietary) Limited and Fortress Asset Management LLC, as assigned to Fortress Gold Ltd., for the Erongo Central Gold Project in Namibia. The settlement was made without any admission of liability by any party,” the company said.
Following the termination, Antler Gold Namibia retains full ownership of the project, which comprises five contiguous exclusive prospecting licences covering approximately 185 square kilometres within the Damara Mobile Belt, a region known for its gold potential.
The licence package includes about 28 kilometres of prospective strike length and shares geological characteristics with the nearby Twin Hills gold deposit, one of Namibia’s most significant recent discoveries.
One of the licences, EPL 8010, borders the Twin Hills Mining Licence, which hosts an estimated 3.1 million ounces of gold, highlighting the strategic significance of the Erongo project area.
The company said it will now assess future development options for the asset as part of an ongoing internal strategic review.
“Antler Namibia now owns the Erongo Project and intends to consider next steps for it as part of its ongoing internal strategic review process,” the company said.
Antler Gold Inc. is a Canadian-listed mineral exploration company focused on the acquisition and development of mineral projects across Africa.
