Fairchild Gold to acquire Carlin Queen project

Executive Summary

• Fairchild Gold Corp. has entered into a binding purchase agreement to acquire a 100% interest in the Carlin Queen gold and silver property, a drill-ready advanced-stage project located in Nevada.
• The acquisition adds to Fairchild's Nevada-focused portfolio, positioning the asset near world-class mines including Goldstrike, Hollister, and Midas.
• The transaction involves cash payments totaling up to $450,000 and a 2% Net Smelter Return (NSR) royalty, with a buyback option available for $4 million.

Key Details

• Target Asset: 100% interest in the Carlin Queen gold and silver property.
• Property Size: 73 unpatented lode mining claims totaling 1,508 acres.
• Location: 48 miles northwest of Elko, Nevada; approximately 11 miles northwest of the Goldstrike mine complex; adjacent to the north side of Hecla Mining Company’s Hollister Au-Ag mine.
• Geological Context: Situated at the intersection of the Carlin and Midas-Hollister gold trends. The area has produced over 98 million ounces of gold through 2022. The property features Carlin-type Eocene targets and low sulphidation epithermal vein/breccia-fill types. Local anomalous values up to 1,500 ppm tungsten suggest potential magmatic intrusions and skarn-tactite rocks.
• Additional Resource: A potentially significant deposit of bentonite clays is present at the surface, requiring further evaluation.
• Technical Work: The property has undergone USGS geological mapping, geochemical sampling, ground magnetic, gravity, CSAMT, and induced polarization geophysical surveys.
• Consideration Structure:
  • Three annual cash payments of $150,000 (USD).
  • Discounted price of $375,000 (USD) available if settled before April 30, 2026.
  • Total potential cash consideration: $450,000 (USD).
• Royalty Terms: A 2% Net Smelter Return (NSR) royalty is granted to the seller.
• Buyback Option: Fairchild holds the option to buy back up to 100% of the NSR for $4 million (USD).
• Area of Interest: The parties agreed to a two-mile area of interest surrounding the claims.
• Qualified Person: Richard R. Redfern, MS, CPG No. 10717, independent consulting geologist, reviewed and approved the technical information.

Notable Quotes

• "With this additional 100-per-cent acquisition of the Carlin Queen project, Fairchild has in less than 18 months, established a significant Nevada-focused gold and copper portfolio. Carlin Queen combines strong exploration upside with a unique strategic positioning in a proven district location alongside world-class mines such as Hollister, Midas, and Goldstrike." — Nikolas Perrault, CFA, Executive Chairman of Fairchild Gold Corp.