Deccan Gold Mines Limited announced the signing of a definitive Earn-In, Option and Shareholders Agreement for the Logrosan Tungsten Project in Spain. The agreement provides a pathway for the Company to progressively earn an initial 51% stake in the project by March 2027.
Under the agreement terms, Deccan Gold will invest EUR 1.76 million to acquire the 51% stake in Logrosan Minera S.L. by March 2027. The Company subsequently has the option to increase its ownership to 75%, subject to agreed milestones and independent valuation. There is potential to further increase the stake to as much as 95% over time through future funding participation and dilution provisions, subject to applicable regulatory approvals.
The Logrosan and Maria Projects together represent a district-scale critical minerals opportunity located within a highly mineralised region of Spain. The project offers prospectivity for tungsten, gold, tin, rare earth elements, niobium, and tantalum.
Exploration results include diamond drilling intersections of 3 metres at 0.42% WO₃, 9 metres at 0.32% WO₃, and 2.7 metres at 0.29% WO₃. A drilling programme is currently underway aimed at extending and further defining the mineralised zones.
The announcement builds on Deccan Gold's strategic entry into the Logrosan Project announced in December 2025. The project aligns with the European Union's Critical Raw Materials Act and Spain offers 100% foreign ownership, competitive operating costs, and a skilled mining workforce.
Tungsten is classified globally as a critical mineral due to its strategic importance in defence, aerospace, semiconductors, electronics, advanced manufacturing, and industrial applications.
The disclosure was made pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and signed by Subramaniam Sundaram, Company Secretary & Compliance Officer (Membership No.: A12110).