Askari Metals Limited has entered into a binding agreement to acquire 100% of the Nejo Gold Project, a large-scale brownfields asset located in central-western Ethiopia. The project covers approximately 1,174 square kilometers on the highly prospective Arabian-Nubian Shield—a region renowned for its significant gold and copper potential and proximity to major mining operations. The acquisition is structured with an initial payment of A$200,000 in cash and A$200,000 in shares, plus 20 million unlisted options, with further deferred payments and a capped 1% gross revenue royalty on future gold concentrate sales. The project’s geological setting is robust, situated in the same greenstone belt as renowned deposits like the Tulu Kapi Mine and Allied Gold’s Kurmuk Mine. Historical exploration data points to multiple high-grade gold targets including intercepts such as 7.1 meters at 30.3 grams per tonne from the Dina target, 14.2 meters at 8.2 grams per tonne at Soyoma, and promising results from the Guji and Komto targets. The discovery of visible gold has further underscored the project’s potential, although all historical results have yet to be independently verified to meet current JORC standards. Askari Metals plans to compile and confirm the extensive historical data with systematic drilling and exploration, aiming for a maiden JORC (2012) Mineral Resource Estimate. Strategically, this acquisition extends the Company’s African portfolio and positions it in an emerging Tier-1 jurisdiction. The Nejo Gold Project is expected to leverage a niche on the frontier of regional mineralisation, with multiple high-priority targets along the Tulu Dimtu Shear Belt that remain underexplored. Recent plans include an initial drilling campaign, comprehensive field surveys, and a robust 12-month exploration budget that forms part of the Company’s broader capital raising strategy. With a market capitalization of about A$2.4 million and a tightly held share structure, Askari Metals is well positioned for significant upside while managing leverage through discovery. Bullish sentiment is supported by the strategic location of the asset in one of Africa’s most promising gold regions, near established, large-scale deposits, and the potential to upgrade historical intersections into a formal resource. The acquisition, combined with a relatively low upfront cost and a structured deferred payment mechanism, gives the Company an opportunity to fast-track asset value through systematic exploration and discovery. On the bearish side, the reliance on historical data that has not been fully verified under modern JORC standards poses uncertainties. The conversion of these high-grade historical intersections into a compliant mineral resource remains subject to ongoing exploration and confirmatory drilling. Additionally, the need for further capital raising to fund the aggressive exploration program may dilute current shareholders in a volatile commodity market environment.