Vita Resources signs heads of agreement with Otago Gold for New Zealand gold exploration

Australian miner Vita Resources (ASX:VTA) has signed a heads of agreement with New Zealand explorer Otago Gold, granting Vita exclusive rights to evaluate, explore and potentially develop hard‑rock gold targets at depths greater than 10 m across Otago Gold’s project portfolio in the Southland and Otago regions. Otago Gold will retain alluvial rights and receive a free‑carried 20 % equity stake in any project until a feasibility study or decision to mine is reached, after which the stake can be converted into a joint‑venture interest, a 2 % net smelter royalty, or sold at market price with Vita holding a right of first refusal. Non‑executive chairman Gavin Rutherford highlighted the partnership’s potential to create jobs, boost industry and increase New Zealand’s GDP, noting a positive reception from Mining Minister Shane Jones during a July 2026 meeting. Vita has three months to complete due diligence before finalising a binding agreement.