US based Gold-focused Royalty Company Bullion Monarch Mining Wednesday said in a press release it has agreed to acquire Dourave Canada, a private mining and exploration company, along with the properties of its Brazilian subsidiary, Dourave Brazil, in an all share deal. The American said it has appended a letter of intent with the Canadian firm over its investment plans for a complete take over.

Dourave, a private mining and exploration company, along with the properties of its subsidiary Dourave Brazil, will be purchased for a combination of shares and warrants of Bullion Monarch. However, the finer details of the transaction are confidential while in the due diligence phase.

Dourave's key assets to be acquired are five highly prospective gold mining properties located in the traditionally mineral rich Para state of Brazil: Bom Jesus, Bom Jardim, Ouro Mil, and Pontal do Paranaita and Caldeiras. Bullion Monarch, as part of previous joint venture agreements, has conducted a diamond core drilling exploration project on the Bom Jesus property.

The US firm reiterated that its management was as well upbeat over acquiring regional geologic and business expertise in the transaction. Under the deal, some key Dourave personnel will join the Bullion Monarch exploration team and are inclusive of one Mr. Sergio Aquino, President of the West Para State Gold Miners Syndicate and a Board Member of the Tapajos Gold Miners Association; and Mr. Rauri McKnight, a founding partner of Dourave and VP Exploration and Country Director of Dourave Mineracao & Exploracao Mineral.

Bullion Monarch Mining chief executive officer R. Don Morris said the agreement to acquire the remaining two-thirds of Bom Jesus and Bom Jardim, which the firm has already begun exploring, is a major step forward for the future of Bullion Monarch Mining. Morris reiterated Bullion’s expectation that the incredible potential of the properties included in the deal, along with the added expertise to its exploration team, will significantly increase the overall value of the Company, he said.

Bullion Monarch Mining is a natural resource company that acquires mining properties to explore and develop. Bullion has excellent mining properties in Northern Nevada and throughout the Western United States.  The company also acquired a 60% interest in EnShale, Inc. in 2005 (now 80%) in order to profit from the growing demand for oil by mining and processing oil shale into oil products.

4 Nov 2010.