Americore closes initial payments under Primus option

Executive Summary

• Americore Resources Corp. completed the initial cash and share payments required under its option agreement with Primus Resources to acquire 42 unpatented lode mining claims adjacent to the Trinity silver project in Nevada.
• The acquisition expands Americore’s consolidated land position to ~22,700 acres, encompassing areas covered by a historic 2012 resource estimate of 36 million ounces of silver equivalent.
• Clarified NSR terms: Primus retains a 2% net smelter return, with Americore having the option to purchase 1% for $2 M or 38,000 oz Ag (correcting prior disclosure).

Key Details

• Initial Payments Completed:
• $8,900 cash paid upon execution of the agreement.
• $25,000 cash plus issuance of 100,000 common shares paid within five business days of TSX‑V filing.
• Future Payment Obligations:
• Year 1: $40,000 cash + 150,000 shares (anniversary).
• Year 2: $60,000 cash + 250,000 units (each unit = 1 share + 1 warrant).
• Year 3: $230,000 cash + 500,000 units.
• Land Position: Approximately 22,700 acres (9,200 ha) now under Americore control, contiguous with the Trinity project.
• Historic Resource Context: The land includes all areas from a 2012 historic resource estimate totaling 36 million oz silver equivalent.
• Historical Sampling Highlights: Up to 1,690 g/t Ag and 4.33 g/t Au reported in historic samples near the open pit.
• Drill Hole Inventory: The acquired claims contain 364 historic drill holes previously owned by Newmont.
• NSR Terms Clarified: Primus retains a 2% NSR; Americore may purchase 1% for either $2 M USD or 38,000 oz Ag (previously misstated as 30,000 oz).
• Transaction Nature: Arm’s‑length transaction per TSX Venture Exchange policies; no finders’ fees were paid.

Notable Quotes

“Completing the first two payments under the Primus agreement underscores our commitment to rapidly advancing the Trinity silver project,” said Jeff Poloni, CEO.
“The clarification of the NSR terms ensures our shareholders have clear and accurate information as we progress.”