Dinero Ventures completes acquisition of Mount Bisson

Executive Summary

• Dinero Ventures Ltd. has completed the acquisition of a 100% interest in the Mount Bisson property, comprising 11 mineral claims in the Omineca mining division of British Columbia, Canada.
• The acquisition was structured through a combination of a property purchase agreement and an assignment agreement with Red Eye Resources Ltd., a related party.
• The transaction involves the issuance of common shares and the assumption of specific royalties and future cash obligations for option exercises.

Key Details

• Property Details: The Mount Bisson property consists of 11 mineral claims in the Omineca mining division, British Columbia.
• Interest Acquired: 100% interest in the property.
• Consideration Structure:
  • Shares Issued: 1,953,641 common shares issued to Red Eye Resources Ltd.
  • Deemed Price: 12 cents per common share.
  • Share Breakdown: The total includes 250,000 common shares payable pursuant to the assignment agreement.
• Royalties Assumed:
  • Purchase Agreement: Assumed a 1% Net Smelter Return (NSR) royalty on four claims.
  • Assignment Agreement: Assumed a 1.5% NSR royalty on the option claim, payable to the optionor upon commencement of commercial production.
  • Royalty Buyout Option: 1% of the NSR royalty on the option claim may be purchased for $1 million anytime before commercial production.
• Option Agreement:
  • Dinero assumed Red Eye's rights and obligations under an option agreement dated Sept. 1, 2023, with Glen Prior.
  • The option grants Dinero the right to acquire a 100% interest in one specific mineral claim.
  • Exercise Cost: Aggregate total of $20,000 in cash, payable in annual installments of $10,000.
• Technical Overview:
  • The property features REE (Rare Earth Element) mineralization associated with a northwest-trending magnetic high.
  • Historic airborne geophysical surveys identified a 1-2 km wide north-northwest-trending magnetic high within the property boundaries.
  • Silt samples collected by Red Eye showed high concentrations of REEs, suggesting widespread REE-bearing zones.
  • The company holds a drill permit for diamond drilling to evaluate these zones.
• Related Party Disclosure: The transaction is a related party transaction as Edward Kruchkowski and Randy Kasum are executive officers of Dinero Ventures and control persons of Red Eye. The transaction is exempt from minority approval and formal valuation requirements under Multilateral Instrument 61-101.

Notable Quotes

• "Ed Kruchkowski, PGeo, president of Dinero Ventures, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release."