Forty Pillars Acquires Golden Link Project Option

Executive Summary

• Forty Pillars Mining Corp. acquired the option to earn‑in a 100 % interest in the Golden Link Project (≈36.25 km²) in the Central Newfoundland Gold Belt.
• Consideration includes issuance of 17.5 M common shares and assumption of $200,000 of liabilities; further cash payments, share issuances and exploration spend commitments are required to exercise the option.
• The earn‑in schedule mandates up to $2.2 M of exploration expenditures over four years, with specific cash and share milestones tied to anniversaries of the effective date.

Key Details

• Option Acquisition: 100 % interest in Golden Link Project via Assignment & Amendment Agreement dated Jan 7, 2026 (Effective Date).
• Initial Consideration Paid:
• Issuance of 17,500,000 common shares to shareholders of 1487049 B.C. Ltd. (“1487”).
• Assumption of $200,000 in liabilities of 1487.
• Cash Payments Required to Exercise Option (to VOA Exploration Inc.):
• $100,000 payable on or before the first anniversary of the Effective Date.
• $275,000 payable on or before the second anniversary of the Effective Date.
• Share Issuances Required to Exercise Option (to VOA):
• Total of 7,000,000 common shares:
  • 3,000,000 shares issuable on or before the first anniversary.
  • 4,000,000 shares issuable on or before the second anniversary.
• All shares placed in escrow; released in equal tranches of 25 % on dates that are respectively 4 months + 1 day, 6 months, 12 months and 18 months from issuance.
• Exploration Expenditure Obligations: $2,200,000 total, to be spent as follows:
• $200,000 by the first anniversary of the Effective Date.
• $500,000 each by the second and third anniversaries.
• $1,000,000 by the fourth anniversary.
• Share Holding Requirements: All shares issued under the Assignment Agreement are subject to a statutory four‑month hold and a voluntary six‑month hold from issuance.
• Project Location & Access: Approximately 21 km north of Gander, Newfoundland; accessible via Trans‑Canada Highway and forest service roads; transmission line located ~15 km east of the project.

Notable Quotes

(No direct quotes were provided in the release.)