Rocky Shore Strengthens Its Gold Anchor Project by Adding Two Significant Historical Gold Resources
Executive Summary
- Rocky Shore Gold entered into an option agreement for the Huxter Lane property and a purchase agreement for the Brady property, adding two historic gold deposits to its 100 % owned Gold Anchor Project.
- The transactions involve cash payments totaling up to $1,025,000 and issuance of up to 13,500,000 Rocky Shore common shares, with the vendors retaining modest NSR royalties that Rocky Shore may repurchase.
- Historical resource estimates for Mosquito Hill (≈196k oz indicated + 570k oz inferred) and Reid (≈173k oz inferred) provide a substantial gold inventory, though they are not classified as current resources.
Key Details
- Huxter Lane Option Agreement – Right to earn 100 % of the Huxter Lane Property (90 claims; 2,250 ha).
- Cash milestones: $100k (signing), $125k (1‑yr), $150k (2‑yr), $175k (3‑yr), $200k (4‑yr).
- Share issuances: 2,000,000; 2,500,000; 3,000,000; 3,500,000; 4,000,000 shares at each milestone.
-
Vendor retains a 2 % NSR royalty; Rocky Shore may repurchase 50 % for $2 M cash and has ROFR on the remaining 50 %.
-
Brady Property Purchase Agreement – Acquisition of 100 % interest in Brady Property (4 claims; 100 ha).
- Consideration: $75,000 cash + 1,000,000 Rocky Shore shares.
- Vendor retains a 0.5 % NSR royalty, which can be repurchased for $250k cash.
-
An underlying 2 % NSR may be repurchased at any time for $1 M cash.
-
Historical Mineral Resource Estimates (for context only; not current resources):
- Mosquito Hill Deposit – Indicated: 11.18 Mt @ 0.55 g/t Au = 196,257 oz; Inferred: 38.76 Mt @ 0.46 g/t Au = 569,496 oz.
-
Reid Deposit – Inferred: 9.57 Mt @ 0.56 g/t Au = 173,000 oz.
-
Strategic Rationale – Both deposits lie adjacent to the Gold Anchor Project’s Lane Pond Gold Target and are open along strike and at depth, supporting planned winter drill program and future resource upgrades.
-
Closing Conditions – Standard customary conditions apply; share issuances rely on prospectus exemptions under NI 45‑106.
Notable Quotes
“With the gold price near all‑time highs, both properties are logical and strategically important acquisitions which will add significant historical gold resources to our 100 %-owned Gold Anchor Project.” – Ken Lapierre, President & CEO
All non‑material boilerplate, forward‑looking disclaimer text, and company background have been omitted for brevity.