Forty Pillars acquires option for Golden Link project

Executive Summary

• Forty Pillars Mining Corp. has acquired an option to acquire a 100% interest in the Golden Link gold project in central Newfoundland through an assignment and amendment agreement dated January 7, 2026.
• The initial consideration for the option assignment involved the issuance of 17.5 million common shares to the sellers and the assumption of $200,000 in liabilities.
• Exercising the option requires significant future cash payments, share issuances, and exploration expenditures over a four-year period.

Key Details

• Project Location & Scope: The Golden Link project consists of two contiguous mineral licences totaling approximately 36.25 square kilometres, located ~21 km north of Gander, Newfoundland, in the central Newfoundland gold belt.
• Initial Consideration:
  • Issuance of 17.5 million common shares to shareholders of 1487049 B.C. Ltd.
  • Assumption of $200,000 in liabilities of 1487049 B.C. Ltd.
• Option Exercise Requirements:
  • Cash Payments: Aggregate $375,000 payable to VOA Exploration Inc., split into $100,000 due by the first anniversary and $275,000 due by the second anniversary of the effective date.
  • Share Issuance: Aggregate 7 million common shares to VOA Exploration Inc., split into 3 million shares due by the first anniversary and 4 million shares due by the second anniversary.
  • Escrow Terms: All option shares are held in escrow and released in equal 25% tranches on dates 4 months + 1 day, 6 months, 12 months, and 18 months from issuance.
  • Exploration Expenditures: Aggregate $2.2 million required, structured as:
    • $200,000 by the first anniversary.
    • $500,000 by the second anniversary.
    • $500,000 by the third anniversary.
    • $1,000,000 by the fourth anniversary.
• Share Restrictions: All common shares issued under the assignment agreement are subject to a statutory four-month hold and a concurrent voluntary six-month hold from the date of issuance.

Notable Quotes

• None provided in the text.