Boroo Announces Agreement to Acquire Victoria Gold Corp. and Expects to Commit Over $1.5 Billion to the Yukon-Based Eagle Gold Mine

Boroo Pte. Ltd. (“Boroo” or the “Company”) announces that it has entered into a subscription agreement (the "Subscription Agreement") with PricewaterhouseCoopers Inc. as the Court-appointed receiver and manager (the “Receiver”) of Victoria Gold Corp. (“Victoria”), pursuant to which Boroo’s wholly-owned subsidiary, Gatsuurt Mining Inc. (the “Investor”), would become the sole shareholder of Victoria (the “Transaction”). 

1. Agreement marks a major milestone in progress toward the safe, responsible restart of the Eagle Gold Mine
    
2. Follows months of rigorous technical, environmental and financial due diligence conducted during the exclusivity period
    
3. Establishes a cooperative, responsible foundation for operations alongside local communities and the Government of Yukon 

Boroo Chief Executive Officer Mr Dulguun Erdenebaatar said, “Our agreement to acquire Victoria Gold and the Eagle Gold Mine marks a pivotal turning point for this foundational Yukon asset. Over the past year, our technical and environmental teams have spent countless hours on the ground conducting rigorous due diligence to ensure that the Eagle Gold Mine can be restarted responsibly and that the site's environmental challenges are addressed. 

Boroo has a demonstrated global track record of acquiring complex operations and responsibly unlocking long-term economic value. Our expectation to commit over $1.5 billion into Canada underscores our dedication to building a long-term enterprise in the Yukon. 

We recognize that sustainable operations are impossible without genuine partnership. We look forward to continuing to work hand-in-hand with the First Nation of Na-Cho Nyäk Dun, the Government of Yukon, and local communities to rebuild trust, restore environmental integrity, and return the Eagle Gold Mine to safe, responsible, and profitable production.”