Churchill, Canstar have TSX-V OK for Golden Baie option

Executive Summary

• TSX Venture Exchange approved Churchill Resources Inc.'s definitive option agreement with Canstar Resources Inc. to acquire a 100% undivided interest in the Golden Baie antimony-gold property in central Newfoundland.
• Churchill immediately fulfilled the initial option terms by issuing 15,834,097 common shares and paying approximately $208,167 in cash to cover existing cash bonds on the property.
• The 39,925-hectare property features a 30-kilometre trend of gold-antimony occurrences, with immediate plans for data review, airborne geophysics, and spring 2026 fieldwork and drilling.

Key Details

• Transaction Approval: TSX Venture Exchange approved the definitive option agreement for a 100% undivided interest in the Golden Baie property.
• Consideration & Payment: Issuance of 15,834,097 common shares to Canstar Resources Inc. plus a cash payment of ~$208,167 to cover existing cash bonds.
• Property Size & Composition: 29 map-staked licences comprising 1,597 claims covering 39,925 hectares (399.25 square kilometres).
• Location & Access: Central Newfoundland; accessible via provincial highways 360 and 361; serviced by communities of St. Albans, Milltown, and Conne River.
• Exploration History: Canstar identified numerous gold-antimony occurrences along a 30-kilometre trend on the main licence block, including the high-grade Swanger's Cove prospect. Soil, prospecting, trenching, and drilling data suggest a large, outcropping gold-antimony system.
• Immediate Next Steps: Data deep-dive with Canstar technical team and advisers to prioritize prospects for 2026 fieldwork.
• 2026 Fieldwork Plans: Systematic trenching and channel sampling followed by drilling to initiate in spring 2026, mirroring the successful approach at the Black Raven property.
• Geophysics: Airborne geophysical surveys planned for the earliest possible date to augment the existing geophysical database across the entire property.
• Strategic Context: Antimony is designated a critical mineral by Canada and G7 allies; supply chain vulnerabilities and export controls by non-market actors drive the strategic focus on domestic production.