CVK Mining Continues Its Investments in the Sarıalan Gold Operations Project Without Slowing Down
CVK Mining is undertaking initiatives to expand the license area of its Sarıalan Gold Operations Project and has acquired the Group IV Operating Licensed site bearing Registration No. 201201393 from Demir Export A.Ş.
In line with its long-term investment plans and growth targets, our company, CVK Maden İşletmeleri San. ve Tic. A.Ş., continues its investments in the mining sector at full speed.
In this context, an agreement has been reached between our Company and Demir Export A.Ş. for the acquisition of the Group IV Operating Licensed mining field with Registration No. 201201393, located adjacent to our property within the boundaries of the İvrindi district of Balıkesir province, for a consideration of 18,500,000 USD from Demir Export A.Ş.
Under the scope of the agreement reached, payments will be made in the amounts of 3,500,000 USD on the contract date, 3,000,000 USD in 2026, and 6,000,000 USD in two equal installments in 2027 and 2028. Furthermore, in addition to these payments, a 3% NSR Royalty (Net Smelter Return) will be paid to Demir Export A.Ş. from the production to be generated contingent upon the initiation of production activities in the relevant license area.
Official procedures for license transfer operations have been initiated in line with the board resolution, and the public will be further informed once the license transfer process is completed before the General Directorate of Mining and Petroleum Affairs ("MAPEG").
About the Acquired Mining Site Bearing Registration No. 201201393:
In the "UMREK Coded Mineral Reserve Report" dated October 21, 2025, prepared by authorities from the National Mine Resources and Reserves Reporting Committee ("UMREK") for the Group IV Operating Licensed mining field bearing Registration No. 201201393 acquired from Demir Export A.Ş., the reserves have been calculated as follows:
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Total measured gold reserve quantity: 69,626.86 ounces,
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Total indicated gold reserve quantity: 35,430.19 ounces,
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Total measured silver reserve quantity: 467,838.07 ounces.
The gold equivalent of the mineral ores specified in this report has been calculated as:
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Total measured reserve quantity: 75,435.30 ounces,
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Total indicated reserve quantity: 35,430.12 ounces.
Impact of the Acquired Field on the Sarıalan Gold Operations Project:
The Group IV Operating Licensed field bearing Registration No. 201201393 acquired by CVK Mining from Demir Export A.Ş. is situated directly to the east of and adjacent to the Group IV Operating Licensed field bearing Registration No. 200903319 held by CVK Mining. With this acquisition, the number of licenses in the Sarıalan Gold Operations Project has increased to 2, the license area to 2,727.38 hectares, and the total reserve quantity to 674,646.86 ounces of AuEq (gold equivalent).
Statement by Chairman of the Board Hüseyin Çevik:
CVK Mining Chairman of the Board Mr. Hüseyin ÇEVİK expressed the following in his evaluation on the matter:
"Today, we have executed yet another vital investment for the future of our Sarıalan Gold Operations Project, which was the core story of our Company's IPO in 2023. With this acquisition, we project an extension in the mine life of the project. It is well known that recent global developments have led to a surge in mineral and metal prices, resulting in increased interest and investments in the mining sector. We observe many groups demonstrating an interest in the mining domain. That said, as CVK Mining—a company originating from and operating exclusively within the mining industry with nearly half a century of mining heritage—we are pleased with this growing interest. Through our Sarıalan Gold Operations Project, we plan to take our place among our country's prominent gold producers. Empowered by our Republic and supported by our valuable stakeholders, we will resolutely continue to produce and generate value added for our nation."
Respectfully announced to the public.
Sincerely,
CVK MADEN İŞLETMELERİ SANAYİ VE TİCARET ANONİM ŞİRKETİ has completed one of the largest acquisition processes on a global scale in the mining sector. The company reached an agreement with Metallurgium Investment Limited to acquire 70% of the shares of Netherlands-based Virtus Mining Ltd., the sole shareholder of Aldridge Mineral Madencilik A.Ş., which holds the license for the Yenipazar Polymetallic Mining Project featuring mineral resources equivalent to 3.46 million ounces of gold. In accordance with the agreement, a payment of 159 million USD and 33,000 ounces of gold will be made to Metallurgium Investment.