Natbridge signs Cahuilla project LOI with Teras

Executive Summary

• Natbridge Resources Ltd. has entered into a binding Letter of Intent (LOI) with Teras Resources Inc. to acquire the Cahuilla gold project in Imperial County, California.
• The acquisition is structured in two phases, with Phase 1 covering approximately 1,680 acres and Phase 2 covering additional parcels, both containing significant indicated gold resources.
• The transaction is tied to Natbridge's strategy to supply gold resources for NatGold Digital Ltd.'s tokenization ecosystem, with payments contingent upon the tokenization of the titles.

Key Details

• Transaction Structure: Binding Letter of Intent for the purchase of mining claims and related property interests comprising the Cahuilla gold project.
• Location: Northwestern Imperial County, California, approximately two miles west of Salton Sea Beach and 30 miles south of Indio, in the eastern foothills of the Santa Rosa Mountains.
• Phase 1 Details:
  • Covers title to two parcels comprising approximately 12,290,139 tonnes.
  • Contains 122,211 indicated ounces of gold at a cut-off grade of 0.005 ounce per ton.
  • Teras will divest subsurface mineral rights and convey a 100% interest in the titles to Natbridge.
  • Payment Terms: $50,000 USD payable upon execution of the LOI (deductible from total purchase price); an additional 10% of the purchase price payable within 60 days of signing the definitive agreement; the balance due after tokenization of the titles.
• Phase 2 Details:
  • Includes additional parcels with an indicated resource of approximately 50,702,466 tonnes containing 596,535 oz of gold at a cut-off grade of 0.005 ounce per ton.
  • Expected to be based on similar conditions to Phase 1, including payment terms following tokenization, though the schedule may be modified.
• Timeline: Parties agreed to enter into a definitive agreement within 45 days, subject to satisfactory due diligence and regulatory compliance.
• Strategic Context: The acquisition supports Natbridge's strategy to build a portfolio of properties meeting the strict tokenization requirements of NatGold Digital Ltd.
• Technical Approval: Lawrence Segerstrom, CPG, an adviser to Natbridge and a qualified person under NI 43-101, has approved the scientific and technical disclosure.

Notable Quotes

• "We are excited to move forward with the acquisition of the titles in the Cahuilla project. The project marks a significant step in our strategy to build a portfolio of properties that will meet the strict tokenization requirements set out by NatGold Digital Ltd. We thank the management team of Teras for their professionalism and look forward to collaborating toward a successful closing." — Stephen Moses, CEO and Director, Natbridge Resources Ltd.