Santa Fe Minerals Limited (ASX:SFM) signed an agreement to acquire Eburnea Gold Project in central Cote d?Ivoire from Turaco Gold Limited (ASX:TCG) for AUD 0.5 million on July 3, 2025. Consideration to be received by Turaco for the sale of the Eburnea Gold Project will be 12 million fully paid ordinary shares in Santa Fe; and 4 million performance rights that convert into fully paid ordinary shares in Santa Fe upon meeting of certain milestones In addition to customary conditions, the sale is conditional upon Santa Fe shareholders approving the transaction and Santa Fe completing an equity raising of at least AUD 1.2 million.

Completion under the agreements is conditional upon various conditions precedent to be satisfied within four months of the date of the agreements, including: Santa Fe receiving confirmation from the ASX that it will not exercise discretion under Listing Rule 11.1.2 and 11.1.3 to require Santa Fe to obtain shareholder approval and re-comply with Chapters 1 and 2 of the ASX Listing Rules, or if Santa Fe does not obtain such confirmation, Santa Fe obtaining shareholder approval for the purposes of Listing Rule 11.1.2; Santa Fe receiving shareholder approval for the issue of the consideration shares and performance rights; Santa Fe completing an equity raising of at least AUD 1 million; Turaco obtaining consent from Fortuna Mines Corporation for the transaction under the Fortuna Option Agreement; and all other shareholders of Turaco Bouake consenting to the transfer of Turaco?s shareholding to Santa Fe.