Update on South Korean Gold Interests
Summary by AI BETAClose X
1 June 2026
Bluebird Mining Ventures Ltd
("BMV" or the "Company")
Update on South Korean Gold Interests
Bluebird Mining Ventures Ltd (LSE: BMV), the gold streaming, mining and treasury company, is pleased to announce that it has restructured its exposure to the South Korean assets through a Share Purchase Agreement ("SPA") with 1575275 B.C. Ltd, a newly formed company incorporated in British Columbia, Canada, founded by Latika Prasad, an experienced mining executive based in Vancouver.
Under the terms of the SPA, 1575275 B.C. Ltd. will assume direct ownership of the South Korean mining interests and responsibility for all future funding, associated liabilities and obligations relating to the assets. BMV will transfer the assets to 1575275 B.C. Ltd. for a nominal consideration and will retain a 2.5% Net Smelter Return from both South Korean projects, Gubong and Kochang. 1575275 B.C. Ltd will have the right to buy-out the royalties for USD 2.5 million at each project.
The assets currently lack a JORC-compliant Mineral Resource Estimate or production approvals. Whilst the geology remains attractive, BMV considers the assets to be at an early-stage of development and carrying exploration risk.
The Board believes restructuring the South Korean gold interests, while retaining exposure through a royalty, better aligns the Company with its strategic focus and materially simplifies its structure, reducing future administrative and audit complexity.
Sath Ganesarajah, Chief Executive Officer of BMV, commented: "The restructure of our South Korean mining interests is an important step in BMV's transition into a focused gold streaming, mining and treasury company. While Gubong and Kochang remain geologically attractive assets, the permitting pathway, development timeline and capital requirements are no longer aligned with our strategic priority of building a lower-risk, cash-generative platform.
"By transferring the assets to an experienced Vancouver-based mining team while retaining a 2.5% royalty over each project, BMV preserves meaningful upside exposure without the ongoing operational, administrative and funding burden. This transaction completes the transition of our legacy owned South Korean gold interests into potential royalty revenue streams and allows management to focus capital and resources on scalable streaming and royalty opportunities capable of delivering recurring cash flow and long-term shareholder value."
For further information, please contact:
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Bluebird Mining Ventures Ltd |
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Sath Ganesarajah, Chief Executive Officer |
c/o +44 (0)20 4582 3500 |
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Gracechurch Group |
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Harry Chathli, Alexis Gore, Anysia Virdi |
+44 (0)20 4582 3500 |
About Bluebird Mining Ventures Ltd
Bluebird Mining Ventures (LSE: BMV) is a gold streaming, mining and treasury company. The Company's mission is to build and manage a gold-backed treasury through streaming agreements, providing investors with exposure to physical gold without the operational risk of mining.
BMV focuses on streams from producing assets within the ore concentrate to bullion value chain. Its investments secure multi-year flows of gold that can be recycled into new transactions. This model enables scalable exposure to gold without capital expenditure, or execution risks.
Drawing on its heritage in gold, BMV combines the stability of physical bullion with the benefits of a scalable, disciplined business model. With a focus on prudent capital allocation and treasury management, BMV aims to deliver sustainable, long-term value for shareholders.
For more information, please visit: www.bmvbtc.com
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