EQ Resources (ASX:EQR) said it has signed agreements to acquire Aus Critical Minerals (ACM) and TTTP1 for total consideration of AU$900,000 in cash and 30 million EQ Resources ordinary shares, according to a Tuesday Australian bourse filing.

The company said the proposed acquisition would add about 353 square kilometers of tungsten-focused tenure and applications in the Mareeba district of Far North Queensland, directly surrounding EQ Resources' Mt Carbine tungsten operation.

On completion, EQ Resources' Mt Carbine district tenure position will increase from about 783 square kilometers to about 1,136 square kilometers, with a further 824 square kilometers under application, it added.