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Rumble Resources Expands Wilmac Copper-Gold Project to 11,504 Hectares with Addition of Lamont Ridge and Plume
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Executive Summary
- Rumble Resources amends its option agreement to expand the Wilmac copper‑gold project from 2,355 ha to 11,504 ha by adding the Lamont Ridge and Plume areas.
- The amendment requires an additional $370,000 cash payment and issuance of 2.0 million units at a deemed price of $0.30 per unit, bringing total cash commitments to $700,000 and a total spend commitment of $3.99 M in exploration over five years for a 70% interest.
- Rumble engages PRAI Inc. to provide marketing services for up to C$350,000, aiming to raise public awareness and support future financing activities.
Key Details
- Project Expansion:
- New total area: 11,504 ha (up from 2,355 ha).
- Lamont Ridge: 7,086 ha (seven claims) with historic copper anomalies; 2024 IP/AMT survey shows two pipe‑like intrusions.
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Plume (application pending): 2,063 ha, includes iron‑carbonate‑silica alteration zones and a diorite‑gabbro exposure.
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Technical Highlights – Lamont Ridge:
- Soil sampling: 66 samples >100 ppm Cu, max 1,125 ppm Cu.
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Geophysical data indicate high‑chargeability and deep conductivity anomalies consistent with porphyry systems.
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Amended Option Terms:
- Additional cash payment: $370,000.
- Issuance of 2.0 million units at a deemed price of $0.30 per unit (each unit = 1 common share + 1 warrant).
- Warrants exercisable at $0.30 for 24 months from issuance.
- Total cash to earn 70% interest: $700,000 over three years ($25,000 paid now).
- Units to be issued: 1.0 million @ $0.10 (issued) and 2.0 million @ $0.30.
- Required exploration spend: $3.99 M over five years.
- Net smelter return royalty: 2%, with option to repurchase 1% for $2.0 M.
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Annual advance royalty after exercise: $100,000.
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Marketing Services Agreement (PRAI Inc.):
- Term: Commences Oct 15 2025, ends at the earlier of six months or budget exhaustion.
- Services: Content marketing, native ads, SMS/email, display ads, landing pages, influencer networking, push notifications, omni‑channel programmatic advertising, etc.
- Compensation: Up to C$350,000 (C$175,000 upfront, C$175,000 after three months).
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No securities issued; agreement subject to CSE acceptance for filing.
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Qualified Person: Rick Walker, P.Geo., reviewed technical information (NI 43‑101 qualified, not independent).
Notable Quotes
“The expansion of Wilmac significantly broadens our exploration footprint and positions us to target multiple high‑potential porphyry systems,” – Brian Goss, CEO, Rumble Resources.