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Oct 21, 2026 News
…project located within 9M ounce gold district
(Kaieteur News) – Canadian gold exploration company Lighthouse Gold Inc. has signed an agreement to acquire a second gold project in Guyana, with the transaction involving cash payments totalling US$1.05 million and 35 million company shares.
Lighthouse announced that it had executed a property option purchase agreement granting it the exclusive right to acquire a 100% interest in the Mariwa-Sardine Hill–Lower Cuyuni Gold Property. The agreement gives Lighthouse four years to exercise its option to acquire the property, which comprises three contiguous medium-scale mining permits covering approximately 3,240 acres or 13 square kilometers (km2).
查看配图：Canadian firm advances US$1M deal to acquire second gold project in Guyana
A map showing the location of Mariwa-Sardine Hill Gold Project.
The property is located within the highly prospective Oko Gold District – an area where other Canadian firms are developing large-scale gold projects. Under the terms of the agreement, Lighthouse will pay a US$100,000 non-refundable deposit, which was previously paid when the company signed a letter of intent, and a further US$150,000 within five business days of the Canadian Securities Exchange (CSE) accepting the transaction. The company will also issue 35 million common shares and make annual cash payments of US$200,000 for four years, totalling US$800,000.
The total cash consideration is US$1.05 million, with the share issuance is additional consideration. Lighthouse said once it exercises the option and pays the outstanding consideration, it will acquire the vendor’s interest in the property, subject to a 1% net smelter returns royalty in favour of the vendor. However, the deal allows Lighthouse to retain the right to purchase the entire royalty for US$4 million.
The transaction remains subject to due diligence, acceptance by the CSE and applicable regulatory approvals in Guyana, including any required approvals from the Minister of Natural Resources and the Guyana Geology and Mines Commission (GGMC).
Interim Chief Executive Officer Will Rascan said, “The execution of the Definitive Agreement marks an important milestone for Lighthouse Gold and secures the Company’s path to acquiring this property.”
“We have now secured the exclusive right to acquire, a land package within an active gold district in Guyana. With the transaction now formalised, our focus shifts toward unlocking the exploration potential of the Property through modern geological interpretation, data compilation and systematic exploration,” Rascan said.
Rascan added that Lighthouse believe the Mariwa–Sardine Hill Property offers the rare combination of extensive historical exploration, compelling drill and trench results, district-scale land position and considerable exploration upside.
Lighthouse said it had mobilised its technical team and begun preparing a work programme that includes digitising historical exploration data, validating previous drilling and geophysical information, and conducting geological and structural assessments to identify priority targets. The programme is also expected to include planning and permitting for follow-up geological mapping, geochemical surveys, trenching and drilling. The company expects exploration activities to commence immediately and said it would provide updates as milestones are achieved.
In addition, the definitive agreement includes a 10-kilometre Area of Interest provision under which Lighthouse may elect, within 60 days of notice, to add to the property, at cost, any mineral rights staked or acquired by the vendor or its affiliates within 10 kilometres of the property during the term of the definitive agreement.
Earlier this year, Lighthouse entered into a definitive option agreement to acquire 100% interest in the Aurora NW project, consisting of associated mineral rights, permits and claims. In February 2026, Lighthouse entered into the agreement which includes US$100,000 in cash payments and the issuance of two million common shares, alongside a Net Smelter Royalty tied to annual production levels, as defined under the Guyanese Mining Act and its applicable regulations. Similar to the Mariwa/ Sardine Hill property LOI, Lighthouse retains the option to repurchase that royalty but for US$500,000.
Since finalising the agreement for the Aurora property, the company has been preparing the ground for exploration, including assembling a local operational team and logistical support to execute field activities. In May, the company announced that it has moved from acquisition to active exploration at its Aurora NW gold project, commencing phase one of its exploration programme at the project which consists of four prospecting permits totalling 19.4 km2 in the Cuyuni–Mazaruni district.
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