REV Doubles Size of JMW Gold Property in Chibougamau Camp

Executive Summary

• REV Exploration Corp. entered into a definitive agreement to acquire 41 mining claims, doubling the size of its JMW Gold Property to ~40 sq km in northern Quebec’s Chibougamau Camp.
• Transaction consideration includes a $35,000 cash payment, issuance of $40,000 of common shares, and a 1.0% Net Smelter Royalty (NSR) with an option for REV to buy back half of the NSR for $750,000.
• The acquisition is expected to enhance JMW’s exploration potential, leveraging existing historic drilling and proximity to successful regional projects.

Key Details

• Seller: Arms‑length private Quebec‑based company (the “Vendor”).
• Assets Acquired: 41 mining claims covering approximately 40 sq km, expanding the JMW Gold Property from its prior size to roughly double.
• Cash Consideration: $35,000 payable at closing.
• Equity Consideration: $40,000 worth of REV common shares issued to the Vendor at closing.
• Royalty Structure:
• Vendor receives a 1.0% Net Smelter Royalty (NSR) on the acquired claims.
• REV holds an option to repurchase 0.5% of the NSR for $750,000 (i.e., half of the royalty).
• Regulatory Conditions: Transaction subject to receipt of all required regulatory approvals, including TSX Venture Exchange approval where applicable.
• Share Hold Period: Shares issued in connection with the transaction will be subject to the standard statutory hold period under Canadian securities law.
• Strategic Rationale (CEO Comment):
• JMW is an “advanced prospect” with >30 historic diamond drill holes showing apparent gold enrichment along a 6 km felsic complex and under‑explored Caopatina Formation sediment contact.
• The Chibougamau Camp is active, highlighted by Iamgold’s nearby deposits; REV expects further exploration updates as drill permits are obtained.
• No Finder’s Fees: No finder’s fees payable in connection with the transaction.

Notable Quotes

“We’ve been increasingly impressed with the potential of JMW which is an advanced prospect with more than 30 diamond drill holes completed historically… We look forward to providing further updates on JMW as more exploration results come in ahead of anticipated drill permits.” – Jordan Potts, CEO