Auric Minerals Corp. Completes Acquisition of English Lake Project, Otter Lake Project and Kan Project in Labrador's Central Mineral Belt, and Enters into Amending Agreements for Route 500, Portage and BUB Properties

Executive Summary

• Auric Minerals completed the acquisition of 100 % of mineral properties (≈26,500 ha) in Labrador’s Central Mineral Belt from Bellview Investments.
• Consideration consisted of 22 M common shares at $0.315 per share, 8 M warrants exercisable at $0.315 for 36 months, a cash payment of $32 000, and assumption of a 2.5 % NSR royalty.
• The company also entered into three amendment agreements to acquire the Route 500, Portage, and BUB properties by issuing a total of 1.5 M common shares, pending CSE approval.

Key Details

• Acquisition Scope: Full beneficial interest in mineral properties covering >26,500 ha across the English Lake, Otter Lake, and Kan projects (Central Mineral Belt, Labrador).
• Consideration Shares: 22,000,000 common shares issued at a deemed price of $0.315 per share to recipients designated by the vendor.
• Consideration Warrants: 8,000,000 warrants issued; each warrant allows purchase of one common share at $0.315 for 36 months from issuance.
• Cash Component: Reduced cash payment of $32,000 as stipulated in the Amending Agreement dated December 29 2025.
• Royalty Assumption: Auric assumed all rights and obligations related to a 2.5 % net smelter return royalty on the acquired properties.
• Exchange Hold Period: Both the consideration shares and warrants are subject to the CSE’s Exchange Hold Period requirements.
• Legal Title Arrangement: Legal title remains with the vendor in trust until transfer; a property management agreement will be executed for ongoing maintenance, fees, filings, and regulatory compliance.
• Technical Report Filing: Filed NI 43‑101 Technical Report for the English Lake Project (effective & signed 5 Dec 2025); available on SEDAR+.
• Amending Agreements – Route 500, Portage, BUB:
• Original option obligations (cash payments, share issuances, exploration spend) waived in exchange for issuance of 500,000 common shares per property (total 1.5 M shares).
• Issuances to be completed next week; upon completion Auric will hold 100 % interest in each of the three properties.
• Share issuances subject to CSE approval.

Notable Quotes

“We are pleased to finalize this strategic acquisition, which significantly expands our Labrador portfolio and positions us for accelerated exploration and development.” – Chris Huggins, CEO & Director, Auric Minerals Corp.