Canadian firm strikes over US$1M deal to acquire second gold property in Guyana’s booming Oko district

Jun 16, 2026 News

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(Kaieteur News) – Canadian exploration company Lighthouse Gold Corp. has signed a deal valued at more than US$1M to acquire a second gold property in Region Seven, deepening its footprint in one of Guyana’s fastest-growing mining districts.

The binding letter of intent (LOI) that Lighthouse entered into with a “vendor” is to acquire a 100% interest in the Mariwa/Sardine Hill – Lower Cuyuni Gold Property which is located within the highly prospective Oko Gold District – an area where other Canadian firms are developing large-scale gold projects.

The property is located in the Cuyuni Mining District No. 4, northwest Guyana and covers over 13 square kilometers (km2). The property comprises of three contiguous Mining Permits Medium Scale (MPMS) which provide the holder with the right to explore and develop mineral resources within the permitted areas, subject to applicable regulatory approvals.  In addition to the property itself, the LOI includes a 10-kilometre area of interest provision, which will provide Lighthouse with the right to acquire certain additional mineral rights that may be staked or acquired by the “vendor” within the surrounding district during the term of the agreement.

Lighthouse noted that the property is part of a broader mineralised corridor where artisanal gold miners have been actively mining for more than 100 years and a belt that is host to several significant gold deposits. The company outlined that the acquisition will represent a strategic expansion of its Guyana-focused exploration portfolio and provides the company with exposure to a historically productive gold district situated within the prolific Guiana Shield, one of the world’s premier gold-bearing geological provinces.

Will Rascan, Interim Chief Executive Officer (CEO) of Lighthouse Gold, stated, “The Mariwa/Sardine Hill – Lower Cuyuni acquisition provides Lighthouse with a strategic foothold in one of Guyana’s emerging gold districts.”

“We believe the property hosts favourable geological characteristics for gold mineralisation and offers exploration upside through the application of modern exploration techniques and the reinterpretation of historical datasets,” he said.

Rascan further noted, “Management believes the Mariwa/Sardine Hill – Lower Cuyuni Property is well-positioned given its location along a regional mineralised corridor that hosts numerous historical gold occurrences, active mining operations and early  advanced-stage exploration projects. The company views the acquisition as an opportunity to leverage historical exploration and success while applying modern geological interpretation and targeting techniques across a consolidated land position.”

The terms of the LOI stipulates that the LOI will be superseded and replaced in its entirety by the terms and conditions of a definitive agreement between the parties, which will reflect Lighthouse being granted the right to acquire a 100% interest in the property through a combination of cash payments and common share issuances.

The consideration payable under the definitive agreement will consists of a US$100,000 non-refundable cash deposit payable within five business days of execution of the LOI;  US$150,000 cash payment payable within five business days of execution of the definitive agreement; issuance of 35,000,000 common shares of Lighthouse Gold within five business days of execution of the definitive agreement and  annual cash payments of US$200,000 on or before each of the definitive agreement anniversaries over four years, totaling US$800,000.

Upon completion of the required payments and the share issuance, Lighthouse will earn a 100% interest in the property, subject to a 1.0% Net Smelter Return Royalty (NSR) in favour of the vendor. However, the deal allows Lighthouse to repurchase the NSR at any time for US$4M.  The transaction remains subject to completion of satisfactory due diligence, execution of a definitive agreement, regulatory approvals and acceptance by the Canadian Securities Exchange.

According to Lighthouse, historical exploration spans more than three decades on the Mariwa/Sardine Hill gold property and has identified a structurally controlled gold system confirmed by shallow drilling across three blocks with significant exploration upside remaining.

Historical exploration programmes have been conducted by multiple operators since the early 1990s, including International Roraima Gold Corp (1994–1997), Newmont (2004), and Guyana Frontier Mining Corp (2011). The 1997 Roraima Summary Report established the Lower Cuyuni prospect as a drill-confirmed gold zone with consistent mineralisation across all three blocks, forming a coherent N-S corridor approximately 1,500 metres in strike length.

Lighthouse also disclosed that geological, geophysical and geochemical data outline anomalies and targets both in saprolite and hard rock that have not been tested to date by drilling. However, the company cautioned that historical results have not been independently verified and should not be relied upon as indicative of future exploration success.

For his part, the interim CEO further highlighted that the recent move for consolidation in the Cuyuni – Oko region has highlighted the value of district-scale land positions within the Guiana Shield.

The Mariwa/Sardine Hill property is located within an area that has recently attracted significant industry attention following the announced combination of fellow Canadian firms G Mining Ventures Corp. (GMIN) and G2 Goldfields Inc. to consolidate the companies’ adjacent gold projects in the Oko gold district into a 7-million ounce gold project controlled by GMIN. That deal is valued at approximately US$2.2B and is expected to be completed this month.

The Mariwa/Sardine Hill property is located within the same highly prospective regional geological terrain that continues to attract exploration and development activity from both junior and major mining companies. Lighthouse noted that the proximity of the property to other mineral deposits or occurrences does not necessarily indicate that the property hosts similar mineralisation or that economic mineralisation will be discovered on the property.

Over the term of the agreement, Lighthouse said it intends to undertake a comprehensive technical review of the district, including compilation and digitisation of historical exploration data; reconstruction of historical drill holes and geophysical databases, among other things.

The move to acquire the Mariwa/Sardine Hill property comes just months after 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.

Lighthouse Gold was formerly named Alerio Gold Corp. as of December 2025. Upon its arrival in June 2021, Alerio Gold entered into a deal with Goldeneye, to purchase two of the three gold fields first; the Tassawinni and the Harpy gold projects, located in Cuyuni Mazaruni.

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• Gold Mining, Guyana Gold, Lighthouse Gold Corp., Oko district, Sardine Hill Gold Project

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