Auric Minerals Consolidates Strategic Land Position in Labrador's Central Mineral Belt with Acquisition of Three Uranuim / Critical Mineral Projects

Executive Summary

• Auric Minerals Corp. announces the acquisition of three uranium exploration properties (English Lake, Otter Lake, and Kan) in Labrador’s Central Mineral Belt, covering over 26,500 hectares.
• The acquisition consideration includes the issuance of 22 million common shares and 8 million warrants, plus a $250,000 cash payment and assumption of a 2.5% NSR.
• Concurrently, the company is executing significant debt restructuring, converting convertible debentures, unsecured loans, and consultant fees into equity at a deemed price of $0.315 per share, totaling approximately 3.86 million new shares.

Key Details

• Property Acquisition:
  • English Lake Project: 7,375 hectares; historic sampling up to 0.1% U₃O₈; lake sediment assays up to 572 ppm U; multi-element anomalies (Cu, Mn, Ba, Zn, Li, Pb, Y, Au).
  • Otter Lake Project: 7,125 hectares; on trend with Moran Lake Deposit; contains two large airborne radiometric anomalies (6 km² and 41 km²).
  • Kan Project: 4,025 hectares; historic channel sampling up to 6.9% U₃O₈; 3,000m of historic drilling intercepted mineralization; strong uranium in lake sediment (up to 730 ppm).
  • Total Area: Over 26,500 hectares across multiple mineralized corridors in the Central Mineral Belt (CMB).
• Acquisition Consideration:
  • Equity: 22,000,000 common shares issued at $0.315 per share.
  • Warrants: 8,000,000 warrants issued at $0.315 per share, expiring 36 months from closing.
  • Cash: $250,000 payment due on the earlier of 5 months post-effective date or when gross equity proceeds reach $2,000,000.
  • NSR: Assumption of all rights/obligations of the Seller regarding a 2.5% Net Smelter Return (NSR).
• Convertible Debenture Amendments:
  • Amendment of conversion price from $0.95 to $0.315.
  • Amendment of warrant exercise price from $1.25 to $0.35.
  • Implementation of a "Forced Conversion Process" if stock trades at or above $0.35 + 25% for 10 consecutive days.
• Debt Conversions into Shares (at $0.315/share):
  • Debenture Settlements: Conversion of $798,738.81 in outstanding debentures into 2,535,679 shares.
  • Loan Settlements: Conversion of $154,917.59 in unsecured loans (principal + interest) into 491,802 shares.
  • Consultant Debt: Conversion of $262,500 owed to a consultant into 833,333 shares.
  • Total Debt Conversion Shares: 3,860,814 shares.
• Hold Periods:
  • Loan Conversion Shares subject to a statutory 4-month and 1-day hold.
  • Debenture Conversion Shares and Property Acquisition Shares are not subject to Exchange Hold.
• Exploration Plans:
  • 2025/2026 work includes data compilation, lake sediment/soil sampling, geological mapping, scintillometer/prospecting, and geophysical interpretation to refine drill targets for uranium and IOCG-style systems.

Notable Quotes

• "The acquisition of English Lake, Otter Lake, and Kan projects adds to our uranium focused portfolio in Labrador's Central Mineral Belt. These projects not only offer potential for high-grade uranium discoveries, but they are also well positioned within a geological environment that is increasingly recognized for hosting IOCG-type metasomatic iron and alkali-calcic systems (MIAC). The combination of uranium and critical and precious metals associated with these diverse mineral systems creates a larger foundation for Auric to explore for the next energy and strategic metal resources within the CMB." — Chris Huggins, CEO