Aruma Resources Limited (ASX:AAJ) agreed to acquire Portfolio of copper and uranium exploration assets in South Australia and Queensland from NHM Holdings (Australia) Pty Ltd for AUD 1.5 million on May 27, 2024. Aruma Resources Limited will issue 26.5 million fully paid Aruma ordinary shares which will be subject to a voluntary escrow period of 6 months from the date of issue. It will also issue 52.5 million options each non-transferable and exercisable into one Share for a nil exercise price.

Aruma will also pay a 2% net smelter royalty to NHM Holdings (Australia) Pty Ltd shareholders. The transaction is subject to due diligence and is also subject to Aruma Resources Limited shareholders approval. James Dickson, Bonnie Doyle and Ashleigh De Silva of Piper Alderman acted as legal advisor to Aruma Resources.