Tincorp closes sale of Skukum project to Blue Jay

Executive Summary

• Blue Jay Gold Corp. has completed its acquisition of Whitehorse Gold (Yukon) Corp., securing 100 % ownership of the Skukum gold project in Yukon, Canada.
• The purchase price consisted of an issuance of 500,000 common shares plus 250,000 share‑purchase warrants valued at approximately $300,000, with a second cash/stock payment of $275,000 due on the first anniversary of closing.
• The transaction provides Blue Jay with a “cornerstone asset” and a lower‑risk platform for near‑term exploration and development, supporting its growth strategy in a jurisdiction with strong mining fundamentals.

Key Details

• Acquisition Effective Date: September 29, 2025.
• Target Entity: Whitehorse Gold (Yukon) Corp., wholly owned subsidiary of Tincorp Metals Inc.
• Asset Acquired: 100 % interest in the Skukum gold project (former production site).
• Consideration – Closing Payment:
• 500,000 Blue Jay common shares issued to Tincorp.
• 250,000 common share purchase warrants issued to Tincorp (aggregate value ≈ $300,000).
• Warrant Terms: Each warrant allows purchase of one additional common share at an exercise price of C$0.90 for two years from issuance; includes acceleration provisions.
• Deferred Consideration: $275,000 payable in cash and/or Blue Jay shares at Blue Jay’s election on the first anniversary of closing (September 29, 2026).
• Strategic Rationale (CEO Quote): The Skukum project is viewed as a “cornerstone asset” offering lower‑risk discovery potential, with plans to test growth potential in existing underground zones and develop new targets.

Notable Quotes

“Closing the Skukum project acquisition is a defining step for Blue Jay… Skukum is a cornerstone asset for us, and, as a former production site, we believe the area represents a meaningful opportunity for lower‑risk discovery and project reinvigoration.” – Geordie Mark, CEO, Blue Jay Gold Corp.