Red Lake acquires Moray East gold project

Executive Summary

• Red Lake Gold Inc. has acquired 100 % of the Moray East gold project in Ontario, covering ~4,380 ha and 203 mining claims.
• The acquisition is strategically positioned adjacent to New Break Resources’ newly announced high‑grade drill intercepts and Alamos Gold’s historic syenite‑hosted district.
• The company paid the required Crown staking fees and now holds the project royalty‑free (subject only to Crown obligations), providing a platform for future exploration financing.

Key Details

• Project Size & Location: 203 mining claims, ~4,380 ha, situated south/southeast of Timmins, Ontario; borders New Break Resources Ltd.’s Moray gold project (north‑eastern side) and Alamos Gold Inc.’s claim area (eastern side).
• Strategic Rationale: Acquisition timed to leverage a newly announced discovery by New Break (4.11 g/t Au over 31.3 m in hole #5; 3.35 g/t Au over 14.8 m in hole #4) that highlights regional prospectivity.
• Ownership & Royalties: Red Lake Gold holds a 100 % interest, royalty‑free except for Crown obligations (staking fees paid).
• Geological Potential: Project spans multiple mapped geological settings, including volcanic rocks identified by New Break and historic syenite‑hosted zones associated with Alamos Gold’s Young‑Davidson mine.
• Future Exploration Outlook: Company plans to evaluate sub‑areas for focused drilling once financing is secured; expects the project to provide “robust exposure” to a high‑potential region.
• Qualified Person Review: Antonio Carteri, P.Geo., independent consultant, reviewed and approved all technical information per NI 43‑101.

Notable Quotes

(No direct quotes were provided in the release.)