Sranan options Lawantino from vendor

Executive Summary

• Sranan Gold Corp. has entered into an option agreement to acquire up to a 100% interest in the 18,468-hectare Lawantino gold property in southeastern Suriname, strengthening its position along the prolific Antino-Sela Creek trend.
• The acquisition targets a region with active artisanal alluvial mining and significant geological potential, including recent sampling results showing gold intercepts of 4.24 g/t and 1.88 g/t in shear-hosted quartz veins.
• The earn-in structure requires $1.9 million in cash, the issuance of 1.8 million common shares, and $1.7 million in exploration expenditures over five years to earn a 90% interest, with the vendor retaining a 10% interest and a 2% NSR.

Key Details

• Property Details: The Lawantino gold property covers 18,468 hectares in southeastern Suriname, situated along the Central Guiana Shear Zone (CGSZ), the same structural trend hosting Founders Metals' Antino project and Miata Metals' Sela Creek project.
• Geological Context: The area is currently focused on extensive artisanal alluvial mining. Sampling of limited saprolite exposure encountered shear-hosted quartz veins cutting granite near the contact with basaltic rocks.
• Assay Results: Two samples returned significant gold grades:
  • 4.24 grams per tonne gold
  • 1.88 grams per tonne gold
• Remote Sensing Analysis: Auracle Geospatial Science Inc. analyzed the property using a proprietary remote sensing system, revealing a distinct increase in fracture density associated with small-scale miners, particularly on the east portion of the property.
• Earn-In Terms (90% Interest):
  • Cash Payments: $1.9 million (U.S.) over a five-year period.
  • Share Issuance: 1.8 million common shares to the vendor.
  • Exploration Expenditures: $1.7 million (U.S.) on the property.
• Vendor Retention: Upon completion of the 90% earn-in, the vendor retains a 10% interest and a 2% net smelter return (NSR) royalty.
• Repurchase Options:
  • Sranan may repurchase the 2% NSR for $3.0 million (U.S.).
  • Upon establishing a minimum 750,000-ounce measured and indicated gold resource, Sranan may acquire the remaining 10% interest based on an independent valuation.
• Future Exploration: Initial programs will integrate artisanal mining areas with satellite interpretation, geological mapping, geochemical sampling, and structural analysis to prioritize targets for trenching and drilling.
• Qualified Person: Dr. Dennis LaPoint, EVP of Exploration and Business Development, reviewed and approved the technical information.

Notable Quotes

• Oscar Louzada, CEO: "The Lawantino acquisition is a strategic addition to our Suriname exploration portfolio, strengthening our position along a proven and highly prospective structural corridor... Lawantino fits well with our disciplined growth strategy and complements our ongoing work at Tapanahony as we continue to build value through systematic exploration."
• Dr. Dennis LaPoint, EVP: "The agreement with Lawantino NV represents a major step in expanding our footprint within Suriname's highly prospective southeastern part of the Marowijne greenstone belt along one of the major controlling structures for large gold deposits."