Pereira-Velho Gold Project

The Pereira-Velho project is located in inland Alagoas state, Brazil, a jurisdiction where copper ore and concentrates represent the state's second-largest export. The area features access to significant infrastructure, an experienced local work force that supports mining development and is road accessible. With a historical resource (108k ounces of oxide AU @ 0.6 g/t) that’s open in all directions, Pacific Bay is keen to unlock investor value with this project.

Pacific Bay Minerals Ltd. has signed a non-binding letter of intent (LOI) with Appian Capital Advisory LLP to acquire 100 per cent of the Pereira-Velho gold prospect (the project), containing 11 mineral claims totalling 14,596 hectares in an option agreement.