Zodiac Gold Extends Exclusivity Period with Avesoro Resources
Zodiac Gold Extends Exclusivity Period with
Avesoro Resources
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2025) -
Zodiac Gold Inc.
(TSXV:
ZAU) ("
Zodiac Gold
" or the "
Company
"), a West African gold exploration company, announced today
that it is continuing to advance its previously announced negotiations with
Avesoro Resources Inc.
("
Avesoro
") in respect of a potential strategic transaction pursuant to which the Company would transfer
its mineral exploration licenses covering the Todi Project to Avesoro in return for, among other things, a
cash payment and a 10% net profit interest royalty in respect of mineral production from the licensed
areas or, if the gold price falls below an agreed benchmark price, a 1% net smelter returns royalty.
In order to provide both parties with additional time to finalize the terms of a definitive agreement in
respect of the proposed strategic transaction, Zodiac Gold has extended the exclusivity period in favour
of Avesoro for an additional 30 days.
Zodiac Gold has also engaged Evans & Evans, Inc., a financial advisory firm, to provide an independent
fairness opinion in respect of the proposed transaction to the Company's board of directors.
About Zodiac Gold
Zodiac Gold Inc. (TSXV: ZAU) is a West-African gold exploration company focused on its flagship Todi
Project situated in Liberia-an underexplored, politically stable, mining friendly jurisdiction hosting several
large-scale gold and iron ore deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac
Gold is developing a district-scale gold opportunity with additional iron ore potential, covering a vast
2,316 km
2
land package. The Todi Project has undergone de-risking, showcasing gold mineralization at
both surface and depth, with five drill-ready targets, of which two have been drilled with high-grade gold
intercepts reported.
About Avesoro
Avesoro is a leading, West Africa-focused, privately owned mid-tier gold exploration, development, and
production company. With a proven track record of operational excellence, the company is recognized
for its strategic focus on responsible resource development and its commitment to advancing world-
class mining operations across the region.
At the core of Avesoro's portfolio is Bea Mountain Mining Corporation (BMMC), the company's flagship
operation in Liberia, which stands as one of the most significant gold producers in West Africa. The
operation integrates both open-pit and underground mining, showcasing Avesoro's technical depth and
operational diversity. Currently, two open-pit projects are in production, complemented by six active
underground mines.
Guided by a deep commitment to sustainability, community engagement, and responsible mining,
Avesoro upholds rigorous environmental, social, and governance (ESG) standards. The company
fosters a diverse and inclusive workforce, builds strong partnerships with host governments and
communities, and continuously strives to deliver meaningful social and economic value through ethical
and transparent resource management. For further information on Avesoro, please visit
www.avesoro.com
.
For further information, please visit the Zodiac Gold website at
www.zodiac-gold.com
or contact:
David Kol President & CEO
+1 702.296.1156
Forward-Looking Information
This news release includes certain "forward-looking statements" within the meaning of Canadian
securities legislation, including statements regarding the potential strategic transaction with Avesoro and
its expected terms.
Forward-looking statements include predictions, projections, and forecasts and are often, but not always,
identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast",
"expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event
or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions
and includes the negatives thereof. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such
statements. Forward-looking statements are based on a number of material factors and assumptions.
Important factors that could cause actual results to differ materially from Company's expectations include
the risk that the Company may not enter into the Definitive Agreement on the terms currently anticipated
or at all, availability of capital, and financing on acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, defects in title, delays in receiving government
approvals, or other risks detailed herein and from time to time in the filings made by the Company with
securities regulators. Although the Company has attempted to identify important factors that could cause
actual actions, events, or results to differ from those described in forward-looking statements, there may
be other factors that cause such actions, events, or results to differ materially from those anticipated.
There can be no assurance that forward-looking statements will prove to be accurate, and accordingly
readers are cautioned not to place undue reliance on forward-looking statements.
The securities described herein have not been, and will not be, registered under the United States
Securities Act, or any state securities laws, and accordingly may not be offered or sold within the
United States except in compliance with the registration requirements of the U.S. Securities Act and
applicable state securities requirements or pursuant to exemptions therefrom. This news release does
not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/274716