Uvre Limited (ASX: UVA), a company focused on resource exploration, has announced the completion of its acquisition of highly prospective gold exploration projects in New Zealand. The company acquired 100% of Minerals Exploration Limited (MEL), whose wholly owned subsidiary is New Zealand Gold explorer, Otagold Limited (Otagold). In conjunction with this acquisition, Uvre has appointed experienced mining executives Norman Seckold and Peter Nightingale as Non-executive Directors. Steven Wood and Peter Woods have resigned from their positions as Non-executive Directors. All board changes are effective today, 14 July 2025.
As part of the acquisition, Uvre issued 75 million fully paid ordinary shares to the vendors of MEL at a deemed issue price of $0.08 per share. These consideration shares are subject to a 12-month voluntary escrow period. The company recently completed a $4 million equity raise and is now focused on accelerating exploration programs at the Waitekauri Gold Project and Oturehua Gold Project, following promising initial rock chip assays.
Rock chip assays from the brownfields Waitekauri Gold Project and Oturehua Gold Project have highlighted the strong potential of the acquired New Zealand project portfolio. Results of up to 18.4g/t Au with visible gold have paved the way for Uvre’s first drilling program at Waitekauri, a brownfields gold project located only 8km from OceanaGold Corp’s Waihi Gold mine.
The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement on 27 June 2025. This announcement has been authorised by the Board of Uvre Limited.
