Radius signs option deal to acquire Hidekel concessions

Executive Summary

• Radius Gold signed a mining assignment and option agreement to acquire the 1,800‑hectare Hidekel concessions adjoining its wholly owned Tierra Roja copper project in southern Peru.
• The company has secured key permits (environmental, archaeological, water supply, land‑use) needed to commence its first drill program at Tierra Roja, with final authorization expected by early November.
• Radius confirms it is well‑financed and has sufficient cash reserves to fund the upcoming drilling campaign once all approvals are in place.

Key Details

• Land Acquisition: Mining assignment and option agreement executed for 1,800 ha Hidekel concessions directly adjacent to Tierra Roja; consolidates land position and strengthens control over a premier copper target.
• Permitting Progress: Obtained Ficha Tecnica Ambiental (FTA) permitting up to 20 drill platforms and access roads, archaeological clearance, water supply contract, selection of local drill contractor, and federal land‑use certification confirming unoccupied government land.
• Remaining Requirement: An additional access waiver is pending; legal counsel expects final authorization for drilling activities by the beginning of November 2025.
• Financing Status: Company states it remains “well financed” with sufficient cash reserves to complete the planned drill program once permits are finalized.
• Management Comment (Bruce Smith, President & CEO): Emphasized that acquiring Hidekel secures a key extension of Tierra Roja, expressed eagerness to start drilling, and noted confidence in resolving remaining administrative steps despite delays.

Notable Quotes

“The acquisition of the Hidekel concessions secures a key extension of our Tierra Roja project. Our team is eager to commence the first drill program on this compelling copper target. While the administrative process for final approvals is taking longer than anticipated, we remain confident in resolving these outstanding requirements soon.” – Bruce Smith, President & CEO

Materiality Assessment: Material – Positive (significant land acquisition and permitting progress that materially advance the company’s primary copper project).