QcX Gold Acquires the Olsen Project, Expanding the Batchawana Project Footprint Adjacent to Sterling Metals' Soo Copper Discovery

On December 12, 2025, QcX Gold announced it has acquired the Olsen Project, a 3,715-hectare land package in Ontario. This acquisition expands its flagship Batchawana Project, which is adjacent to Sterling Metals Corp.'s Soo Copper Project discovery. The terms include staggered payments of $28,000 in cash and 500,000 common shares upon closing, with further cash and share payments over the next three years. The vendors will retain a 1.5% net smelter returns (NSR) royalty, of which the company can purchase 0.5% for $500,000. The release notes historical mineral occurrences on the new property, including a 1.98 g/t gold grab sample and a drill intercept of 0.03% copper over 1.18 meters.

This news is a logical and material continuation of the company's dramatic strategic pivot initiated in October 2025. After teetering on the edge of insolvency earlier in the year, requiring a share consolidation and a lifeline financing, QcX has gone all-in on a high-risk, high-reward "nearology" play in the Batchawana Greenstone Belt.

The acquisition of the Olsen Project solidifies this new direction, expanding the company's land position around a known discovery by a neighboring company. The market reacted with extreme enthusiasm to the initial Batchawana acquisition in October, sending the stock from $0.16 to $0.57. This follow-on acquisition, while smaller, reinforces the story that initially captured speculative interest. The payment terms are structured favorably, staggering cash outlays and preserving the company's limited treasury for exploration work.

However, from a risk-averse perspective, this is simply the acquisition of more unproven, early-stage exploration ground. The historical results cited are not economically significant and serve only as geological indicators. The entire value proposition of the Batchawana project currently rests on the hope that mineralization from Sterling Metals' property extends onto QcX's ground. Until QcX produces its own meaningful drill results, this remains a speculative bet.

The impact is positive because it demonstrates management's commitment to the new strategy and expands their footprint in a prospective area with manageable terms. It is material because it significantly increases the size of their now-flagship project. It is not a "game changer" as it does not de-risk the project or confirm any mineralization of their own.

QcX Gold Corp. is a Canadian junior mineral exploration company. Historically, it focused on gold projects in Quebec, namely the Golden Giant and Fernet properties. In Q4 2025, the company executed a major strategic pivot, acquiring the Batchawana Project in Ontario.

The company's flagship project is now the Batchawana Project, located in the Batchawana Greenstone Belt. It is a copper-gold exploration play whose primary thesis is its proximity to Sterling Metals Corp.'s high-grade Soo Copper discovery. With the addition of the Olsen Project, QcX has amassed a large, contiguous land position adjacent to and on-trend with known mineralization. The project is at a very early stage of exploration, with work to date focused on consolidating the land package and planning initial geophysical surveys.