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VANCOUVER, BC / ACCESSWIRE / October 23, 2023 / Taura Gold Inc. (TSXV:TORA) (the "Company" or "Taura") and Ensign Minerals Inc. ("Ensign") are pleased to announce that they have entered into a definitive business combination agreement dated October 23, 2023 (the "Definitive Agreement"), whereby Taura will acquire all of the issued and outstanding shares of Ensign by way of a statutory three-cornered amalgamation under the Business Corporations Act (British Columbia). Upon completion of the proposed business combination (the "Proposed Transaction"), Taura (as it exists upon completion of the Proposed Transaction, the "Resulting Issuer"), will be a Tier 2 mining issuer listed on the TSX Venture Exchange (the "TSXV") and will continue to further advance the Mercur Gold Project located in Utah, United States and its exploration property located in Ontario, Canada. Taura and Ensign are arm's length parties, and there are no current non-arm's length parties of Taura who are insiders of Ensign, or presently hold any direct or indirect beneficial interest in either Ensign or any of its assets.

John Dorward, President and Chief Executive Officer of Taura, stated, "We are very excited by the acquisition of the Mercur Gold Project with an Inferred Resource of ~1.7 million ounces, and what we believe to have favourable exploration potential in a major underexplored Carlin-type gold system. The strategically positioned land package is in a Tier 1 jurisdiction with a clear permitting process to navigate. The Mercur Gold Project is only 57km from Salt Lake City, has access to excellent infrastructure including paved access roads, grid power and potential access to historic water wells. Our initial path forward will be to initiate further metallurgical test work, including column testing, to complement the large database compiled by Barrick and Ensign over previous years. In addition, Taura plans to update baseline studies and mineral resource optimization ahead of completing a Preliminary Economic Assessment ("PEA") which is currently scheduled for early 2025." see & read more on
https://www.accesswire.com/795422/tauragoldincandensignmineralsincenterintodefinitiveagreementtocompletereversetake-over