January 18, 2024 – In2Metals Explorer S.à.r.l, a privately owned exploration company supported by Naguib Sawiris, is pleased to announce that its subsidiary, Akh Gold Ltd (“Akh Gold” or the “Company”), has signed two gold exploration concession agreements in Ber Asad and Jabal Mayt in the Eastern Desert of Egypt with the Egyptian Mineral Resources Authority (“EMRA”). The two concessions, covering an area of 347 km2, were granted to Akh Gold in June 2022 through the second competitive bid round.
Gerard De Hert, CEO of In2Metals, commented:
“We are delighted and honoured that our subsidiary, Akh Gold, has signed two new exploration concession agreements in the Eastern Desert of Egypt. Our decision to expand our activities into Egypt following our acquisition of 80.1% of Akh Gold in September 2023 confirms our strong commitment to Egypt following the inception of our drilling campaign in our existing concessions in Egypt. It also reflects our belief in the substantial investment opportunities present in the country, and is in line with our strategy to continue to grow in emerging markets .”
About In2Metals
In2Metals is a privately owned exploration company supported by Naguib Sawiris. In2Metals holds 80.1% interest in Akh Gold. In2Metals’ strategy is intently trained on unearthing and advancing substantial resources, ensuring enduring value and profitability, and becoming a premier junior explorer with an attractive portfolio in gold and copper.
Gerard De Hert
CEO and Director
In2Metals Explorer S.à.r.l.
Corporate and Media Inquiries:
Luisa Ewing
VP—Senior Legal Counsel, In2Metals Explorer S.à.r.l.
[email protected]
