Sulliden Mining Capital Inc. (TSX: SMC) (“Sulliden” or the “Company”) is pleased to announce it has entered into a share purchase and subscription agreement dated July 9, 2023, pursuant to which the Company has agreed to purchase and subscribe for up to 70% of the total issued and authorised ordinary par value shares of a Namibian private company (“Privco”), subject to the terms and conditions set out in the agreement (the “Transaction”).

Privco holds, either directly or through option agreements, 14 exclusive prospecting licenses representing 307,778 hectares of exploration licenses, including the Khorixas Gold Project, the Omatjete Gold and Lithium Project, and the Outjo Gold Project (collectively, the “Damara Project”). The Damara Project is anticipated to provide Sulliden access to three distinct project areas that are highly prolific for gold and lithium deposits within Namibia.