Bocana's LOI with Venture Gold lapses

Executive Summary

• Bocana Resources Corp. provided a corporate update regarding its joint venture with Arizore Ltd. for a precious metals tokenization platform, noting that the platform is in the chain completion and registration phase with a preliminary launch anticipated by the end of January 2026.
• The company reported that the previously announced letter of intent with Venture Gold Corp. has lapsed, though management continues discussions regarding a potential transaction with no assurance of completion.
• Updates were provided on assay results from the Arizona project, where additional samples have been submitted for testing following analysis of previously cored samples.

Key Details

• Arizore Partnership & Tokenization Platform:
  • The joint venture with Arizore Ltd. is advancing the development of reserve and ledger architecture to house verified in-ground and delivered assets.
  • The platform aims to bridge digital finance and verified precious metals, allowing independent mining operators to securitize verified assets into liquid capital subject to regulatory approvals.
  • Development is currently focused on finalizing the underlying blockchain and reserve reporting infrastructure.
  • Arizore is engaging with strategic and financing partners aligned with responsible resource development and emissions reduction frameworks.
  • A preliminary launch of the platform is anticipated by the end of January 2026.
  • The model intends to enable investors to gain exposure to tangible mineral reserves through digital tokens underpinned by real-world geological verification in accordance with National Instrument 43-101.
• Venture Gold Corp. Transaction:
  • The previously announced letter of intent with Colorado-based Venture Gold Corp. has lapsed.
  • Management from both companies is continuing discussions regarding a potential transaction, but there is no assurance an agreement will be reached or completed.
• Arizona Project Updates:
  • Recently cored samples and portions of previously cored samples have been analyzed by several accredited independent laboratories (including labs previously used by local geologists).
  • Several additional samples have been submitted for assay testing.
• Regulatory & Legal Disclaimers:
  • The partnership and platform launch are subject to necessary regulatory approvals, including from securities regulators, the TSX Venture Exchange, and cryptocurrency/digital asset regulators.
  • Compliance with securities laws, anti-money laundering legislation, and cryptocurrency regulations is required.

Notable Quotes

• Tim Turner, CEO, Bocana: "Together, we're combining the trust and credibility of traditional mining with the scalability and accessibility of blockchain. This represents a significant evolution in how value from physical resources can be realized."
• John Smith, Director, Arizore: "The partnership with Bocana marks an important milestone for Arizore. We're creating an entirely new framework that merges tangible reserves with digital liquidity, a model we believe will define the next generation of asset-backed finance."