Badlands Resources options Rett property in Ontario

Executive Summary

• Badlands Resources Inc. entered into an option agreement to acquire the Rett mineral claims (91 unpatented claims, 1,950 ha) in Thunder Bay, Ontario.
• The company will issue 200,000 common shares to the optionor upon TSX‑V acceptance of the agreement; a further 2 million shares are payable if NI 43‑101 resources of ≥250,000 oz gold equivalent are demonstrated.

Key Details

• Property: Rett claim package in the Onion Lake area, ~31 km NE of Thunder Bay, comprising 91 contiguous unpatented claims covering 1,950 ha; accessible via Highway 527 and logging roads.
• Target Minerals: Historic work indicates potential for platinum‑group metals, copper, nickel, and rare‑element pegmatites containing lithium, tantalum, and rubidium.
• Share Consideration – Initial Issuance: 200,000 Badlands common shares to be issued upon acceptance of the option agreement by the TSX Venture Exchange (TSXV).
• Earn‑out Share Issuance: Additional 2,000,000 common shares contingent on issuance of an NI 43‑101 technical report showing mineral resources ≥250,000 oz gold equivalent across any or all of the property.
• Transaction Conditions: Completion subject to TSXV acceptance of the agreement and satisfaction of the resource threshold for the earn‑out component.

Notable Quotes

(No quotes provided in the release.)