Zeus Resources (ASX:ZEU) agreed to acquire the Casablanca project in Morocco from Ashgill Morocco, according to a Monday filing with the Australian bourse.

The company agreed, pending shareholder approval, to issue the vendor 62.5 million shares, with 50% of the consideration shares escrowed for six months from the date of issue, and 12 million performance rights to settle the acquisition, the filing said.

The transaction is subject to shareholder approval and will be completed through the company's Moroccan subsidiary, Zeus Morocco Resources, according to the filing.