Tru Precious does not acquire more of Staghorn

Executive Summary

• Tru Precious Metals elected not to exercise its additional option, keeping its interest at 51 % and establishing a 51 %/49 % joint‑venture with Quadro Resources on the Staghord property.
• The decision avoids a $200k cash payment and $850k of required exploration expenditures (including $510k drilling) that would have been triggered by exercising the option.
• Tru will now negotiate a Joint Venture Agreement to formalize the new arrangement while continuing exploration across the broader Golden Rose project.

Key Details

• Original option exercised on 2025‑07‑10 gave Tru a 51 % interest in Staghorn; the additional 14 % option could have been exercised within a 30‑day notice period.
• Tru chose not to exercise the additional option; consequently, ownership stands at 51 % (Tru) / 49 % (Quadro).
• Exercising the additional option would have required:
• $200,000 cash payment to Quadro Resources.
• $850,000 of exploration expenditures within two years, including $510,000 allocated to drilling on Staghorn.
• Parties will commence negotiations on a Joint Venture Agreement (JVA) that will incorporate standard industry terms and provisions already outlined in the option agreement.
• CEO Steve Nicol stated the decision aligns with Tru’s “big picture” strategy for the Golden Rose land package, allowing flexible allocation of exploration capital across the entire project area.
• Ongoing activities: field mapping, ground‑truthing, and evaluation of assay results from earlier drilling programs; results to be reported when available.

Notable Quotes

“The decision not to exercise the additional option on the Staghorn licences… is in line with our stated aim of taking a ‘big picture’ perspective of the entire consolidated land package.” – Steve Nicol, CEO

Safe harbor statements omitted for brevity.