Auric Mining (ASX:AWJ) is seeking to acquire Lindsay's gold project in Western Australia from Top Global Mining and NBC Mining, subject to due diligence, according to a Thursday Australian bourse filing.

The company executed a binding letter agreement through a new wholly owned entity LMG (WA).

It will pay Top Global and NBC AU$100,000 by way of a nonrefundable deposit in consideration for being granted the exclusive right to complete due diligence on the project up to April 3.

At the execution of the tenement sale agreement, Auric will pay AU$2 million to the firms, including the deposit, subject to the successful completion of the due diligence. It will also issue shares worth AU$2 million to the firms, subject to shareholder approval.

The company will also grant Top Global and NBC a royalty of 3.5% of the net smelter return from the sale of gold from the project, the filing said.