Trident closes claim buy from Eagle Plains for $14,370

Executive Summary

• Trident Resources Corp. has closed the acquisition of 16,245 ha of gold‑bearing claims from Eagle Plains Resources Ltd., securing a 100 % interest in four blocks within the La Ronge Gold Belt, Saskatchewan.
• Purchase price consists of $14,370 cash plus a net smelter return (NSR) royalty (2 % NSR on all 24 claims with a $1 M buy‑back for 1 %).
• The acquisition adds high‑grade gold showings up to 45.5 g/t Au and positions Trident’s flagship Contact Lake project for its upcoming summer drilling program, supported by >$11 M of cash and marketable securities.

Key Details

• Acquired Assets: 16,245 ha across four contiguous blocks bordering Trident’s Contact Lake and Greywacke projects in the La Ronge Gold Belt.
• Location: Road‑accessible claims ~30 km NE of La Ronge, situated along a high‑voltage transmission line.
• Gold Showings: Documented assays ranging from trace mineralization to 45.5 g/t Au within pyrite‑bearing, rusty quartz veining in andesitic–dacitic host rocks.
• Purchase Consideration:
• Cash payment of $14,370.
• Ongoing NSR royalty: 2 % on all 24 claims, with an option for Eagle Plains to repurchase 1 % for $1 M.
• Related Party Note: Transaction is not arm‑length; Trident director Tim Termuende also serves as a director/officer of Eagle Plains.
• Financing Position: Trident holds > $11.0 million in cash and marketable securities, fully financing its summer drilling program at Contact Lake.
• Qualified Person: Technical data approved by Cornell McDowell, P.Geo., non‑independent qualified person under NI 43‑101.

Notable Quotes

(No direct quotes were provided in the release.)