WSK Signs LOI to Acquire 100% of NewRidge Gold Project, Advancing Strategic Entry into Zimbabwe's Prolific Greenstone Belt

Wildsky Resources Inc. (TSXV: WSK) has signed a binding Letter of Intent to acquire a 100% interest in the NewRidge Gold Project in Zimbabwe from Golden Cube Mining Corporation. The transaction includes an option to purchase three adjacent mining claims totaling approximately 300 hectares in Manicaland Province. Total consideration for the deal is US$2,800,000 in cash plus 11,000,000 common shares, to be paid in four tranches over approximately 12 months.

To concentrate resources on NewRidge, Wildsky terminated previous non-binding agreements for the Midau/Krumlin EPOs and the Phoenix Art Ltd. (Felsite Gold Project) acquisition. Phoenix agreed to repay a USD$255,000 loan as part of this termination. The deal qualifies as a Fundamental Acquisition under TSXV Policy 5.3, triggering a trading halt pending regulatory review. Wildsky has been granted a 60-day exclusive due diligence period.

The project is hosted in the Odzi-Mutare-Manica greenstone belt, located approximately 6.5 km from the Red Wing Gold Mine. An active mining permit and Environmental Impact Assessment (EIA) approval are already in place for the property.

Wildsky Resources Inc. (WSK) has announced an acquisition that marks a strategic pivot away from the previously announced Phoenix/Felsite and Midau/Krumlin deals, which have now been terminated. This move demonstrates management's willingness to cut losses on stalled assets, though it also highlights execution challenges in securing definitive agreements.

Financially, the US$2.8M cash requirement consumes approximately 92% of the company's current cash balance of $3.04M. Combined with a monthly operating burn rate of approximately $0.38M, based on $1.09M in operating cash flow over nine months, the company's cash runway post-acquisition drops to less than one month.

The transaction involves the issuance of 11,000,000 shares, representing approximately 19.6% dilution on the current 56.24M share base. When combined with the 7.5M full warrants outstanding from the Dec 2025 financing, fully diluted shares could approach 67.24M.

Wildsky Resources Inc. (WSK) is a Vancouver-based exploration and development company focused on mineral assets in Africa. Its primary project is the Nasarawa Nb-Ta Project in Nigeria, which targets Niobium, Tantalum, and Iron. The project is currently in the exploration phase with no feasibility study completed, and management plans geochemical and drilling programs to evaluate license renewals.

The company’s secondary focus is on Zimbabwe gold assets. Wildsky previously pursued the Felsite Gold Project (Phoenix Art Ltd.) and Munathy/Lily shear zone EPOs, both of which have been terminated or are in early option stages. The NewRidge Gold Project is now the current priority.

The management team includes CEO Wilson Jin, who has 32 years in exploration and financing, VP Exploration Kairan Liu, who holds a PhD from the Colorado School of Mines, and CFO Andrea Yuan, a CPA. The board includes John Anderson, a turnaround specialist, and Zonglin Zhang, formerly of Zijin Mining. Kairan Liu serves as the Qualified Person for technical data.