(Kaieteur News) – Days after Canada-based mining company XAU Resources Inc. announced that it is evaluating additional acquisition opportunities in Guyana, the company has secured the option to acquire a 100% interest in the Matthews Ridge gold property in Region One (Barima-Waini), which spans more than 15,000 acres.

In an August 20 update, XAU Resources Inc. said it entered into the option agreement on 18th August with Russian company Consolidated Northwest Resources Incorporated (CNRI). Under the agreement, XAU has been granted the exclusive option to acquire a 100% interest in the Matthews Ridge Gold Project in northwestern Guyana.

The Matthews Ridge Property comprises 15 medium-scale mining permits covering approximately over 15,000 acres (or 60.97 square kilometres) and is located approximately three-km south of the town of Matthews Ridge.