Gowest Gold Ltd.(TSX VENTURE:GWA)is pleased to announce that it has entered into a definitive share purchase agreement (the “Purchase Agreement”) with Northern Sun Mining Corp. (“Northern Sun”), pursuant to which Gowest will acquire a 50% interest in a joint-venture corporation (“JVco”) that will own and operate the Redstone Mill (the “Transaction”). Upon completion of the Transaction, each of the parties will hold a 50% interest in JVco. The Transaction was originally announced by Gowest on January 23, 2017.
The Redstone Mill, located near Timmins, Ontario, is currently wholly-owned by Northern Sun and has the capacity to process approximately 1,500 tonnes of ore-per-day. Located just south of Gowest’s Bradshaw Gold Deposit, which forms part of its North Timmins Gold Project, the Redstone Mill is well-situated to satisfy Gowest’s anticipated future ore processing requirements.