Precore Gold Corp. announced that further to it's Definitive Option Agreement announced February 04, 2025 to acquire a 100% undivided interest in the Lac Big-Rush Gold Property from a single private owner, it has accelerated and modified it's Agreement to immediately own 100% of the Property. Initially the Company entered into a Definitive Option Agreement to acquire 100% of the property over a 3-year period.
However, given the discovery potential of the property in this prolific mining camp, the Company has accelerated the original terms to complete 100% ownership. This development is especially important as it comes on the heels of a noteworthy sector M&A transaction within the region, namely Iamgold Corporation completing the acquisition of Northern Superior Resources Inc. on December 19, 2025, to create the "Nelligan Mining Complex", one of the largest pre-production gold camps in Canada, with Measured & Indicated Mineral Resources of 3.75 Moz Au and Inferred Mineral Resources of 8.65 Moz Au. The close proximity of Iamgold's primary deposits to each other supports the conceptual vision of a central processing facility within the Chibougamau camp, that could be fed from multiple ore sources within a 17-kilometre radius (Iamgold, October 20, 2025).
Precore's Lac Big-Rush Property is located along the east-west Faribault and Croteau inverse faults and shears, and is included in a gold bearing area, neighboring to the west of Iamgold's Croteau Project, which hosts an Inferred near surface resource of 640,000 oz at 1.73 g/t, located a mere 300 meters from Precore Gold's property boundaries. The common shares issued in connection with the 100% acquisition are subject to a statutory hold period of 4 months and 1 day in accordance to the Canadian securities laws. The Vendor will retain a 2% Net Smelter Royalty (NSR) from the proceeds of any commercial production.
The Company will have the right to purchase up to 1.5% of the remaining NSR for the sum of $1,000,000 at any time, by providing the Vendor written notice to that effect. The Vendor will have no area of interest surrounding the Property. The Transaction is subject to the CSE approval.
