Wildsky Signs Letter of Intent to Acquire NewRidge Gold Mine in Zimbabwe

en.Wedoany.com Reported - Canadian exploration company Wildsky Resources has signed a binding letter of intent (LoI) to acquire full interest in the NewRidge gold mine project in Manicaland Province, Zimbabwe. The company states that this arm's-length transaction is a strategic step in expanding its African mineral portfolio.

Under the agreement, Wildsky also obtained an option to purchase three adjacent mining claims, registered as 18035–18037 BM.

The NewRidge project is located in the Odzi-Mutare-Manica greenstone belt, which is known for its gold potential. The main mining claim covers 150 hectares (ha) and has valid mining permits and environmental impact assessment approval. According to Wildsky, the main mineralized zone extends over 1,100 meters along strike; gold mineralization occurs within diorite porphyry intrusions and at their contact zones with serpentinite, showing indications of both low-to-medium-grade and high-grade gold mineralization zones. The mine site is approximately 6.5 kilometers from the Red Wing gold mine and about 10 kilometers by road from Mutare.

It is reported that grid power, municipal water, road and rail access are already available on site, with accommodation facilities for up to 30 people; supplies and labor can be sourced locally in Mutare. In August 2026, Golden Cube Mining acquired full interest in the NewRidge gold mine project and obtained exclusive exploration rights to three adjacent mining claims totaling approximately 300 hectares. Wildsky's transaction will assume these rights and involves a series of cash payments and share issuances.

If the acquisition proceeds, Wildsky will first pay Golden Cube US$100,000 (C$142,454), followed by installment payments totaling US$2.9 million and 11 million Wildsky common shares; payments are subject to the transfer of mining claim title and the satisfaction of other agreed conditions. Completion of the transaction is also subject to due diligence, execution of a definitive agreement, and approval by the TSX Venture Exchange.