AngloGold Ashanti and some of its affiliates have entered into a binding agreement to acquire Augusta Gold Corp in an all-cash transaction valued at approximately C$152 million (US$111 million), strengthening the company’s position in Nevada’s rapidly emerging gold-rich district, which continues to attract growing interest from the industry.

The terms of the deal state that AngloGold will acquire all issued and outstanding shares of Augusta Gold at C$1.70 per share, representing a 28% premium to Augusta Gold’s closing share price on the Toronto Stock Exchange on July 15, 2025, and a 37% premium to its 20-day volume-weighted average.

As part of the transaction, AngloGold Ashanti will also fund the repayment of certain stockholder loans totalling around US$32.6 million as of March 31, 2025.

The acquisition will give AngloGold control over Reward—a permitted, feasibility-stage project—the Bullfrog deposit, and the surrounding tenements, which sit adjacent to the company’s existing claims in the region. The strategic move is expected to enhance the company’s mineral resource base and accelerate integrated development plans across the district.

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“This acquisition reinforces the value we see in one of North America’s most prolific gold districts,” said AngloGold Ashanti CEO Alberto Calderon. “Securing these properties will not only solidify our leading position in the most important new gold district in the U.S., but also improve our ability to develop the region under an integrated plan—with more flexibility, greater access, better infrastructure sharing, and cohesive engagement with all stakeholders.”

The company mentioned that this transaction is expected to close in the fourth quarter of 2025, subject to customary conditions, including shareholder approval from a majority of Augusta Gold’s outstanding common stockholders. A special meeting of shareholders is expected later this year.

Once completed, Augusta Gold will become an indirect, wholly-owned subsidiary of AngloGold Ashanti and will be delisted from all public markets.

The Augusta Gold board approved the deal, following a recommendation from its audit committee. Directors, certain executives and Augusta Investments Inc., together holding roughly 31.5% of the company’s shares, have already committed their support through voting agreements with AngloGold Ashanti.