NSJ Gold signs option to acquire Antimony 2.0 property

Executive Summary

• NSJ Gold Corp. has entered into an option agreement with Edge Exploration Inc. to acquire 100% ownership of the Antimony 2.0 property, a 35-square-kilometre antimony exploration project located in New Brunswick, Canada.
• The property is situated near the historic Lake George antimony mine and features three robust antimony soil anomalies identified through recent reconnaissance soil and drone magnetic surveys.
• NSJ plans to initiate an immediate work program including the analysis of over 400 soil samples and five kilometres of induced polarization (IP) surveying to define drill targets for testing in the coming winter.

Key Details

• Transaction Structure: NSJ earns 100% of the Antimony 2.0 property through a two-stage earn-in process.
• First 50% Earn-In:
  • Issuance of 450,000 shares to Edge Exploration Inc.
  • Exploration expenditures of $250,000 total, structured as:
    • $100,000 and 150,000 shares due on or before the first anniversary of the agreement.
    • $150,000 and 300,000 shares due on or before the second anniversary of the agreement.
• Remaining 50% Earn-In:
  • Incurring exploration expenditures totaling $3,000,000 on the property before the fifth anniversary of the agreement.
  • Issuance of a further 2,000,000 shares.
• Royalty Terms: NSJ has granted a 2% Net Smelter Return (NSR) royalty. NSJ retains the right to purchase one-half of this royalty (1.0% NSR) for $1,000,000 at any time.
• Property Location: Approximately 25 km west of Fredericton, NB, and 15 km north-northeast of the historic Lake George antimony mine.
• Property Characteristics: 35-square-kilometre area with access via provincial and logging roads and hydro power availability.
• Geological Context: Geology consists of interbedded Silurian greywacke and argillite, similar to the Lake George mine. Recent work by Edge Exploration identified three robust antimony soil anomalies from a 395-sample reconnaissance survey and drone magnetic survey.
• Immediate Work Program: Analysis of over 400 previously collected soil samples and five kilometres of induced polarization (IP) surveying at various dipole spacings to detect subsurface mineralization and outline resistivity differences.
• Market Context: Antimony is classified as a critical mineral with high global demand for battery technology and military systems. Prices have seen significant rallies due to supply shortages and export restrictions from China.

Notable Quotes

• "We are very excited to option this highly prospective antimony project. New Brunswick has always been a great place for exploration and mining. The New Brunswick government geological and mining staff are very helpful, and have conducted regional and local surveys and investigations across the province to aid mineral exploration. We will be able to access some of this work to aid our exploration." — Jag Sandhu, CEO of NSJ