Trek Metals (ASX:TKM) has entered a tenement sale and purchase agreement with Kairos Minerals (ASX:KAI) to divest its non-core Pincunah gold and base metals project in Western Australia’s Pilbara region.
The project adjoins Kairos’ 1.4Moz Mt York Gold Project, making it a strategic fit for the buyer.
Under the agreement, Trek will receive $100,000 in cash, $100,000 in KAI shares, and $200,000 in KAI performance rights, which vest upon Kairos announcing a mineral resource of at least 50,000 ounces of gold at 1g/t or higher.
Completion is subject to customary conditions, including third-party approvals and execution of related agreements.
The tenements involved are E45/4640, E45/4909, E45/4917, E45/6664, and E45/6240 (application).
Trek said the divestment aligns with its strategy to focus on its flagship Christmas Creek Gold and Manganese Project in the Kimberley region, while retaining potential upside through its stake in Kairos.
CEO Derek Marshall highlighted the strategic fit for Kairos and reiterated Trek's focus on advancing the high-grade 'Kuro' manganese discovery at Christmas Creek, with a maiden drilling campaign planned for Q2 2026.