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    Golden Horse Minerals Key Acquisition and Corporate Update

    Perth, Western Australia--(Newsfile Corp. - October 11, 2024) - Golden Horse Minerals Limited, (TSXV: GHML) ("Golden Horse" or the "Company") is pleased to provide an update on:

    • The acquisition of a large and strategic tenement package from ASX-listed Emerald Resources NL (ASX: EMR) ("Emerald") and certain Emerald subsidiaries (the "Acquisition");
    • Amendments to the agreement with respect to the Hakes Find project (the "Hakes Find Agreement") to align with Golden Horse's proposed ASX listing; and
    • Other corporate activities.

    Golden Horse and Emerald Resources NL Agreement Update

    Golden Horse, Emerald and certain subsidiaries of Emerald, have on October 11, 2024 executed final long form agreements in respect of the Acquisition (the "Acquisition Agreements"). As previously announced by the Company on September 3, 2024, the parties had entered into a binding term sheet in respect of the Acquisition.

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    Image 1: Image of Hopes Hill historical open pit.

    To view an enhanced version of this graphic, please visit:
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    The Acquisition Agreements are substantially on the terms as set out in the September 3, 2024 press release, however, the parties agreed to amend the potential deferred consideration payable to Emerald from common shares ("Shares") only to a cash payment or share issuance, at the election of the Company, as follows:

    • A$1,000,000 in cash or A$1,000,000 of Shares to Emerald at a 30-day volume-weighted average price ("VWAP"), subject to a minimum deemed issue price of C$0.195 per Share (the "TSXV Floor Price"), at the time of releasing a JORC resource of 250,000 ounces of gold in respect of the Project within five years of closing;

    • A$1,000,000 in cash or A$1,000,000 of Shares to Emerald at a 30-day VWAP, subject to the TSXV Floor Price, at the time of releasing a JORC resource of 500,000 ounces of gold in respect of the Project within five years of closing; and

    • A$1,000,000 in cash or A$1,000,000 of Shares to Emerald at a 30-day VWAP, subject to the TSXV Floor Price, at the time of announcing a decision to mine in respect of the Project within eight years of closing.

    The TSXV Floor Price is only applicable so long as the Company remains listed on the TSXV.

    Closing of the Acquisition will provide Golden Horse 100% ownership over the highly strategic tenement package (including the historic Hopes Hill and Greenmount mines) within the Southern Cross region.[1]

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    Golden Horse Minerals Key Acquisition and Corporate Update Perth, Western Australia--(Newsfile Corp. - October 11, 2024) - Golden Horse Minerals Limited, (TSXV: GHML) ("Golden Horse" or the "Company") is pleased to provide an update on:The acquisition of a large and strategic tenement package from …