Northern Lights' Medicine Springs NSR Royalty to be Acquired for US$2.2 Million

Executive Summary

• Northern Lights Resources entered into a definitive agreement to sell its 1% NSR royalty on the Medicine Springs Project to an indirect wholly‑owned subsidiary of Torex Gold Resources for US $2,200,000.
• The cash proceeds provide non‑dilutive funding to advance higher‑impact projects such as Horetzky and Pup.
• Transaction is expected to close in the near term, after which Northern Lights will have no further interest in the Medicine Springs Project.

Key Details

• Transaction Amount: US $2,200,000 cash consideration.
• Asset Sold: 1% Net Smelter Return (NSR) royalty on the Medicine Springs Project (Elko County, Nevada).
• Buyer: Indirect wholly‑owned subsidiary of Torex Gold Resources Inc.
• Closing Timeline: Expected to close in the near term (no specific date disclosed).
• Impact on Company: Removes all royalty interest in Medicine Springs; proceeds will be redeployed to advance the Horetzky Copper Project (BC), Pup Copper Project (Yukon), and Secret Pass Gold Project (Arizona).
• CEO Quote: Luka Capin highlighted the transaction as “a highly attractive monetization of a non‑core asset” delivering “meaningful non‑dilutive funding” and strengthening the company’s financial position.

Notable Quotes

“This transaction represents a highly attractive monetization of a non‑core asset and provides meaningful non‑dilutive funding to support advancement of the Company’s higher‑impact projects.” – Luka Capin, CEO, Northern Lights Resources Corp.