Renegade Gold expands Red Lake land to 100K hectares

Executive Summary

• Renegade Gold Inc. has entered into a mineral property purchase agreement to acquire the Belanger property, a 105-claim package covering approximately 2,150 hectares, significantly expanding its Red Lake exploration footprint.
• The acquisition brings the company's consolidated land position within the Red Lake mining district to approximately 100,150 hectares, supporting its strategy of district-scale land consolidation and greenfield discovery.
• The Belanger property features historic high-grade gold and base metal mineralization, including surface samples up to 60.4 g/t Au and shallow drilling intersections up to 7.66 g/t Au, situated within favorable geological structures for VMS and orogenic gold deposits.

Key Details

• Transaction Structure: Renegade Gold agreed to purchase 105 unpatented mining claims known as the Belanger property from an arm's-length third party.
• Consideration: The total purchase price is $10,000, paid in two equal installments upon signing and closing, plus the issuance of 12,345 common shares at an issue price of $0.405 per share.
• Land Package Expansion: The Belanger property adds 2,150 hectares and approximately five kilometers of prospective strike length to the Confederation project. The total consolidated Red Lake land package now totals approximately 100,150 hectares.
• Historic High-Grade Surface Samples:
  • 60.4 g/t Au and 0.03% Cu
  • 24.8 g/t Au over 0.6 m (chip sample)
  • 45.26 g/t Au, 0.32% Cu, and 17.1 g/t Ag
  • 11.8 g/t Au, 59.7 g/t Ag, and 4.59% Cu
  • 3.8 g/t Au and 5.47% Cu
  • 3.41 g/t Au and 3.85% Cu
• Historic Drilling Results (2002/2021 re-log):
  • Hole GL-142: 7.66 g/t Au and 2.06% Cu over 0.3 m
  • Hole GL-152: 7.64 g/t Au and 2.08% Cu over 0.3 m
  • Hole GL-082: 1.11 g/t Au and 1.23% Cu over 1.22 m
  • Hole GL-038: 1.02 g/t Au and 0.9 g/t Ag over 0.91 m
• Geological Context: The property is underlain by Cycle-III volcanic rocks and granodioritic porphyries of the Confederation Assemblage, similar to those hosting the historic South Bay mine (10 km northeast). It is transected by north- and east-trending regional fault structures considered favorable for gold mineralization.
• Regulatory Status: Completion is subject to customary closing conditions, including approval from the TSX Venture Exchange.

Notable Quotes

• "The Belanger property represents a strategic addition along major regional structures within our Confederation project, adding approximately five km of prospective strike length with documented high-grade gold and base metal mineralization at surface and in shallow drilling. Together with the acquisition of the Arrow West claims in December and the recent staking of additional claims within the existing land package, we have further strengthened continuity across key geological corridors. These additions support our greenfield discovery strategy as we continue refining our exploration model and advancing new drill targets across the project." — Devin Pickell, President and CEO