Dinero Ventures to acquire Mount Bisson property

Executive Summary

• Dinero Ventures Ltd. has entered into agreements to acquire a 100% interest in the Mount Bisson property, a mineral claim located in British Columbia, Canada, from Red Eye Resources Ltd.
• The acquisition involves two distinct transactions: a direct property purchase and the assumption of an existing option agreement, both settled via the issuance of common shares.
• The property features confirmed rare earth element (REE) mineralization associated with a magnetic high, with the company holding a drill permit to evaluate these zones.

Key Details

• Transaction Structure:
  • Property Purchase Agreement: Dinero Ventures acquires a 100% interest in the Mount Bisson property from Red Eye Resources Ltd.
  • Assignment and Assumption Agreement: Dinero Ventures assumes Red Eye's rights and obligations under an option agreement originally dated Sept. 1, 2023, between Red Eye and the optionor.
• Consideration:
  • Property Purchase: Issuance of 1,953,641 common shares to Red Eye Resources Ltd. at a deemed price of $0.12 per share.
  • Option Assignment: Issuance of 250,000 common shares to Red Eye Resources Ltd. at a deemed price of $0.12 per share.
  • Total Shares Issued: 2,203,641 common shares.
  • Total Deemed Value: $264,436.92 (based on $0.12/share).
• Royalty Obligations:
  • Dinero Ventures assumes Red Eye's obligation to pay a 1% net smelter return (NSR) royalty associated with the property.
• Property Technical Details:
  • Location: British Columbia, Canada.
  • Mineralization: REE (rare earth element) mineralization associated with a northwest-trending magnetic high.
  • Geophysics: Historical airborne survey identified a 1-2 km wide north-northwest-trending magnetic high within claim boundaries.
  • Sampling: Silt samples collected by Red Eye show high concentrations of REEs, suggesting widespread REE-bearing zones.
  • Exploration Status: The company holds a drill permit allowing for diamond drilling to evaluate parallel REE-bearing zones.
• Regulatory and Legal Status:
  • Transactions are subject to customary closing conditions, including TSX Venture Exchange acceptance.
  • Transactions constitute related party transactions under Multilateral Instrument 61-101 (MI 61-101) as Ed Kruchkowski and Randy Kasum are executive officers of Dinero and control persons of Red Eye.
  • Exempt from minority approval and formal valuation requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a).
  • No finders' fees will be paid.
• Qualified Person: Ed Kruchkowski, PGeo, President of Dinero Ventures, has reviewed and approved the technical contents.

Notable Quotes

• "The property has REE (rare earth element) mineralization associated with a northwest-trending magnetic high within the claim boundaries."
• "Red Eye has confirmed the magnetic anomaly as well, collected silt samples during the same program, which show an overall high concentration of REEs, suggesting widespread REE-bearing zones throughout the property."