Bessor Announces Entering Option for the Redhill Property

Recent Announcement (May 26, 2026)

• Bessor Minerals Inc. has transitioned its interest in the Redhill property from a potential 100% acquisition to holding a 30% ownership interest.
• Copper One Resources Corp. entered an option agreement to earn a 100% interest through cash payments and work obligations over 10 years.
• Bessor retains a 0.6% Net Smelter Return (NSR) royalty on the property.
• Bessor is entitled to 30% of a $500,000 bonus payment triggered by milestones or commercial production.
• The agreement includes cash consideration totaling $915,000 over 10 years, with Bessor receiving 30% of these payments.

Historical Context (2025-2026)

• April 22, 2026: Giant Mining Corp. was previously reported to have signed an option agreement for the Redhill property. The May 26 announcement indicates a shift in partner to Copper One Resources Corp., suggesting a restructuring or correction of the previous deal.
• March 25, 2026: Bessor terminated its acquisition of the Jagrite graphite project near Bella Coola, BC. This marked a reversal of strategy away from graphite expansion.
• July 9, 2025: Company completed a small non-brokered private placement raising $100,000 gross proceeds (5 million shares at $0.02).
• April 4, 2024 (Referenced): Option to earn interest in Easter Gold Project terminated.

Positive Factors

• The Redhill project remains active with a partner (Copper One) assuming the primary exploration risk and capital expenditure burden ($900,000 work obligations).
• Bessor secures immediate cash flow rights (30% of $915,000 total consideration) without bearing the full cost.
• Retention of 0.6% NSR royalty provides long-term upside if production commences.

Negative Factors and Risks

• Partner Instability: The change from Giant Mining (April news) to Copper One Resources Corp. (May news) within one month indicates potential deal volatility or confusion, which may erode investor confidence in management's execution capability.
• Diluted Upside: Bessor reduced its direct control from a potential 100% interest to 30%, limiting the company's ability to capture full project value independently.
• Capital Constraints: The July 2025 financing raised only $100,000 gross. This is insufficient for significant exploration without further dilution or reliance on partner funding.
• Asset Cancellations: Termination of Jagrite and Easter projects suggests a lack of clear strategic direction or inability to close deals at previous terms.

Corporate Profile

• Name: Bessor Minerals Inc.
• Focus: Exploration and development of mineral properties in Canada.
• Flagship Project: Redhill Property (British Columbia).
  • Location: South of Ashcroft, BC, Kamloops mining district.
  • Size: 18 claims, ~4,736 hectares (11,703 acres).
  • Type: Volcanogenic massive sulphide (VMS) target with historical copper and zinc mineralization.
• Secondary Assets:
  • Golden Eagle Property (Yukon).
  • 1% NSR royalty on claims at Blackwater Mine (operated by Artemis Gold Inc.).

Development Status

• Redhill is the primary focus following the cancellation of the Jagrite graphite project.
• Historical drilling (2022) showed 6.9m grading 0.61% copper and 0.55% zinc, providing a baseline for exploration but not defining a resource yet.