Wafa Mining & Petroleum SA entered into a letter of intent to acquire 10% stake in Tijirit Mining Permit and Gold Development Project from Algold Resources Ltd..

Wafa Mining & Petroleum SA entered into a letter of intent to acquire 10% stake in Tijirit Mining Permit and Gold Development Project from Algold Resources Ltd. (TSXV:ALG) on July 13, 2018. Wafa will acquire a 10% interest in Tijirit mining permit and gold development project as well as a subscription by Wafa for approximately 8.8 million common shares of Algold at a price of CAD 0.10 per Share, for a total amount of $4.2 million in cash.