Mashwa Minerals Ltd. to Acquire Holman Mining Project in Nova Scotia

Mashwa Minerals Ltd. have entered into a definitive purchase agreement with Holman Mining to acquire a 100% interest in the gold project, which lies approximately 35 kilometers southwest of their Drum Canyon Project in Nova Scotia.

To acquire the asset, Mashwa Minerals Ltd. make a USD $3.7 million payment to the vendor on closing and issue 18,000 warrants shares. In addition, Holman Mining will receive royalties of ten percent of total production until December 2027.

"We are very pleased to confirm the addition of the Holman Mining project to our existing project portfolio," said Mr. Philip Waterman, Founder & Director of Projects at Mashwa Minerals Ltd.

"The site has a great track record of successful gold production and we believe that the open pit and underground historical resources at the project could possibly be some of the highest-grade in the area based on our initial exploration results completed on the property which will very quickly part of our company's best producing mines," Philip Waterman added.

Holman Mining were operating the open pit mining site between 1991 and 2002 with underground test mining completed in the early 2010s but the mine has been under care and maintenance only since 2021.

The closing of this deal between the two companies is expected to take place in the second quarter of 2026, subject to regulatory and third-party approvals with Mashwa Minerals Ltd. already having approval to purchase further land surrounding the Holman Mining project.