Loyalist Announces Amendment to Gold Rush Option Agreement to Accelerate the Earning of a 100% Interest
Accelerated Gold Rush acquisition sharpens Loyalist’s “Buy Timmins” play
Loyalist announced an amendment to its March 31 2025 option agreement for the Gold Rush property, allowing it to earn a 100 % interest within 60 days. To trigger the accelerated option the company paid $20,000 cash and issued 4 million common shares (already delivered). A further $10,000 cash payment is due within five business days of execution. All newly issued shares are subject to a four‑month hold period and completion remains conditional on CSE and other regulatory approvals.
- Asset ownership: The amendment moves Gold Rush from a partially owned (option) asset to full 100 % ownership, completing Loyalist’s “four‑key‑property” portfolio in Timmins (Tully, DeSantis, Loveland, Gold Rush).
- Capital efficiency: Only $30,000 cash was required; the bulk of consideration is equity, preserving cash for ongoing exploration and permitting work.
- Strategic alignment: Full ownership enables unfettered decision‑making on drilling, permitting and future financing, directly supporting the “Buy Timmins, Mine Timmins” strategy outlined in earlier outlooks.
- Market perception: The transaction was previously disclosed as a planned step; however, the accelerated timeline and cash payment are new, reducing execution risk and signalling management confidence. This constitutes a material positive development relative to prior expectations.
Loyalist Exploration focuses on acquiring and advancing gold‑rich properties in the Timmins Gold Camp (Ontario). Its flagship suite now comprises four contiguous projects:
- Tully – 458 ha, historic resource up to ~144 koz Au, pending NI‑43‑101 update.
- DeSantis – ~850 ha on the Destor‑Porcupine Deformation Zone, historic production of 35.8 koz Au.
- Loveland – polymetallic (Ni‑Cu‑Au) project with historic non‑NI‑43‑101 resources and ongoing technical report preparation.
- Gold Rush – newly secured 100 % owned 41‑claim, ~877 ha gold‑silver target with recent high‑grade grab samples (up to 7.36 g/t Au).