NatBridge Advances Cahuilla Consolidation with New LOI for Additional Deeded Parcels

Executive Summary

• NatBridge Resources entered into a binding Letter of Intent with Teras Resources USA to acquire four additional deeded parcels (“Acquisition Parcels”) and secure an option for three more parcels (“Option Parcels”) within the Cahuilla Gold Project, completing its Phase 2 parcel acquisition framework.
• Purchase price for the Acquisition Parcels will be based on the gold resource estimate from the March 10 2021 NI 43‑101 Technical Report; the Option exercise price will be set in a future definitive agreement.
• The transaction remains subject to execution of definitive agreements, customary closing conditions, regulatory approvals and other standard contingencies.

Key Details

• Parties: NatBridge Resources Ltd. (CSE: NATB) and Teras Resources Ltd. USA.
• LOI Date: March 9 2026 (binding).
• Acquisition Scope:
• Four deeded parcels to be purchased under terms consistent with the previously announced Phase 1 acquisition framework.
• Option secured for an additional three parcels, exercisable any time prior to closing of the Acquisition Parcels or as otherwise agreed.
• Pricing Mechanism: Purchase price tied to the gold resource estimate in the NI 43‑101 Technical Report titled “Amended Technical Report on the Cahuilla Project Gold and Silver Resources” (dated March 10 2021).
• Option Terms: Exercise price and other commercial terms for the Option Parcels will be defined in the definitive agreement(s).
• Relationship to Prior Agreements: The Phase 2 LOIs do not amend the Mineral Rights Purchase Agreement from September 2025 covering Phase 1 parcels; they pertain solely to additional, distinct parcels.
• Closing Conditions: Execution of definitive agreements, satisfaction of customary closing conditions, receipt of all required regulatory approvals, and compliance with applicable laws. No guarantee that transactions will be completed.
• Technical Report Update: Following a shareholder update on December 9 2025, NatBridge engaged Capps Geoscience LLC to prepare a supplemental NI 43‑101 technical report; a draft has been submitted to the BCSC and is pending final filing on SEDAR+.

Notable Quotes

• “We are pleased to have reached this milestone, further expanding NatBridge's presence at the Cahuilla Gold Project,” – Stephen Moses, CEO, NatBridge Resources.
• “This LOI reflects the constructive working relationship between our teams and our shared objective of progressing these transactions in an orderly and collaborative manner,” – Joseph Carrabba, CEO, Teras Resources.