Auric Minerals Corp. Completes Share Issuances Pursuant to Amending Agreements for Route 500, Portage and BUB Properties

Executive Summary

• Auric Minerals issued 1,500,000 common shares at a deemed price of $0.25 per share to acquire 100% ownership of the Route 500, Portage Lake and BUB properties.
• The issuance satisfied all remaining obligations under the original option agreements, waiving future cash payments, additional share issuances and exploration expenditures.
• The newly issued shares are subject to a four‑month hold period under Canadian securities laws.

Key Details

• Shares Issued: 1,500,000 common shares at $0.25 per share (aggregate deemed consideration of $375,000).
• Acquisition Target: Full (100%) interest in three properties – Route 500, Portage Lake and BUB.
• Consideration Structure: Original option obligations (future cash payments, additional share issuances, exploration spend) were waived; instead, 500,000 shares were issued to the optionor, completing a total of 1,500,000 shares issued for the three properties.
• Hold Period: The issued shares are subject to a four‑month hold period pursuant to Canadian securities regulations.
• Purpose: To consolidate ownership of uranium and gold exploration assets in Labrador’s Central Mineral Belt, Quebec, and British Columbia.

Notable Quotes

(No direct quotes were provided in the release.)