Marvel Gold (ASX:MVL) signed a binding term sheet with American mining company Anchises Capital to sell its interests in the Tabakorole and Yanfolila gold projects in Mali for AU$1.7 million, according to a Tuesday filing with the Australian bourse.

Under the agreement, Marvel will sell its full equity interest in the subsidiary companies holding the Tabakorole and Yanfolila tenements, which are being renewed by the Mali Mining Cadastre.

The deal includes an upfront exclusivity fee of AU$150,000, with the remaining AU$1.5 million payable within 14 days after the renewal of the tenements, the filing said.

The transaction is subject to regulatory approvals and other conditions.