Tru Precious does not acquire more of Staghorn

Mr. Steve Nicol reports TRU ELECTS TO MAINTAIN A 51% INTEREST IN STAGHORN PROPERTY Tru Precious Metals Corp. has opted not to exercise the additional option that would have seen the company acquire an additional 14-per-cent interest in the Staghorn property. As such, Tru and Quadro Resources Ltd. are now deemed to have entered into a 51-per-cent/49-per-cent joint venture arrangement on the Staghorn property. On July 10, 2025, Tru announced that it had formally exercised the initial option to acquire a 51-per-cent interest in the Staghorn property pursuant to an option agreement between Tru and Quadro dated June 15, 2022, as subsequently amended. Section 3.3 of the option agreement provided Tru with a 30-day period during which it could provide written notice of its intention to exercise the additional option enabling it to acquire an additional 14-per-cent interest in the Staghorn property. The company has decided not to avail itself of this right to exercise the additional option accordingly, the parties will now commence negotiations aimed at finalizing the terms of the joint venture agreement (JVA) that will regulate the new arrangement between the parties. The JVA will contain normal industry standard terms and other terms broadly set out in the option agreement. Exercising the additional option would have seen Tru obliged to pay $200,000 cash to Quadro, and incur $850,000 of exploration expenditures, including $510,000 of drilling activity on the Staghorn property, within two years of having exercised the initial option. Tru chief executive officer Steve Nicol commented: "The decision not to exercise the additional option on the Staghorn licences, which cover approximately 11 per cent of the total project area of Golden Rose, is in line with our stated aim of taking a 'big picture' perspective of the entire consolidated land package. Exercising the additional option would have resulted in restrictions being placed upon where exploration dollars could have been spent in the next two years, and this was not considered the most efficient manner to advance our efforts aimed at discovering the full gold and copper potential that may exist within Golden Rose. "The Tru exploration team is now back out in the field advancing the mapping and ground truthing programs across the entire project area aimed at further refining the geological and structural site-wide model and expanding the pipeline of quality drill targets. Assay results from out drilling program completed earlier this season are now being received and will be reported upon when they have been compiled and assessed." About Tru Precious Metals Corp. Tru is on a mission to build long-term shareholder value through prudent natural resource property development. The company's flagship project is the Golden Rose project a regional-scale 297.50-square-kilometre land package in central western Newfoundland (includes a 33.25 square km package of claims over which Tru has a 51-per-cent interest) which straddles a 45 km strike length along the gold deposit-bearing Cape Ray-Valentine Lake shear zone, directly between Equinox Gold Corp.'s Valentine project and AuMEGA Metals Ltd.'s Cape Ray Gold project. Tru is currently focused on efficiently discovering the full gold and copper potential at Golden Rose, targeting continuity along this proven gold-bearing trend. The Golden Rose project is currently subject to an earn-in agreement with Toronto Stock Exchange-listed Eldorado Gold Corp., whereby Eldorado has the option to finance $15.25-million in cash payments and exploration expenditures over five years to earn an 80-per-cent interest in the Golden Rose project. Please refer to the company's July 30, 2024, press release for further details of the agreement. Tru is approximately 36 per cent owned by European strategic investor Ormonde Mining PLC. We seek Safe Harbor.