Bocana Resources Corp. Signs Letter of Intent to Acquire an Equity Interest in Venture Gold, Inc.

Executive Summary

• Bocana Resources Corp. has signed a non‑binding Letter of Intent to invest up to US $20 million in Venture Gold, Inc., acquiring a substantial equity interest in VG’s treasury shares.
• The investment will be made through a newly formed joint venture, Arizore LLC, and is subject to definitive agreements, financing confirmation, due‑diligence satisfaction, and regulatory approvals (including TSX V).
• The transaction does not alter Bocana’s business model, nor will it change its directors or officers.

Key Details

• LOI Date: October 6 2025.
• Proposed Investment Amount: Up to US $20 million.
• Target Company: Venture Gold, Inc. (Nevada corporation).
• Purpose of Funds: Exclusively for development and exploration of VG’s properties and related working‑capital needs.
• Structure: Equity subscription for newly issued shares of VG on a fully‑diluted basis; exact share count to be disclosed upon execution of a definitive agreement.
• Financing Vehicle: Joint venture entity Arizore LLC (Nevada limited liability company).
• Conditions Precedent:
• Execution of a definitive investment agreement between Bocana and Venture Gold.
• Confirmation that Bocana has secured financing for the transaction.
• Completion of satisfactory due‑diligence by Bocana.
• Receipt of all required regulatory approvals, including TSX V clearance.
• Finder’s Fee: A negotiated fee will be paid in connection with the transaction (terms not disclosed).
• Strategic Rationale (CEO Quote): “The proposed equity investment … strengthens our growth trajectory… enhances our asset base and accelerates our corporate development plans.” – Tim Turner, CEO, Bocana Resources Corp.
• Regulatory Note: The TSX Venture Exchange has not reviewed or approved the transaction; it is disclosed solely for informational purposes.

Notable Quotes

“Bocana is pleased to announce the proposed equity investment in Venture Gold, a strategic step that strengthens our growth trajectory. The acquisition of our interest in these high‑grade sites represents a significant opportunity to enhance our asset base and accelerate our corporate development plans.” – Tim Turner, Chief Executive Officer, Bocana Resources Corp.