Precore Gold Completes 100% Acquisition of the Lac Big-Rush Gold Property in the Prolific Chibougamau Mining Camp of Quebec

Executive Summary

• Precore Gold Corp. accelerated its Definitive Option Agreement to acquire 100% of the Lac Big‑Rush Gold Property (now 2,712 ha across 49 claims) immediately, rather than over three years.
• The transaction was completed for a total cash payment of $20,000 and issuance of 250,000 common shares; the vendor retains a 2% NSR with an option for Precore to purchase up to an additional 1.5% NSR for $1 M.
• The acquisition adds 498 ha adjacent land and positions Precore within the prolific Chibougamau mining camp, near Iamgold’s Croteau Project, supporting a planned preliminary exploration program in H2 2026.

Key Details

• Original Agreement (Feb 4 2025): Option to acquire 100% of Lac Big‑Rush over three years.
• Accelerated Completion: Effective Feb 5 2026, Precore now owns the entire property outright.
• Consideration Paid:
• Cash: $20,000 (up from $15,000 previously paid).
• Shares: 250,000 common shares issued (vs. 200,000 originally contemplated), subject to a statutory hold period of 4 months + 1 day.
• Net Smelter Royalty (NSR): Vendor retains 2% NSR on any future commercial production. Precore may purchase up to an additional 1.5% NSR for $1,000,000 upon notice.
• Land Package: Total of 49 claims covering 2,712 hectares, including an added 498 ha contiguous parcel.
• Location & Geology: Property sits on the east‑west Faribault and Croteau inverse faults/shears, adjacent to Iamgold’s Croteau Project (inferred 640,000 oz Au @ 1.73 g/t, ~300 m from property boundary). Historical drill data exist but no recent work since the early 1980s.
• Strategic Rationale: Accelerated acquisition aims to secure a discounted asset in a Tier‑1 jurisdiction with high discovery potential, leveraging recent regional M&A activity (Iamgold’s purchase of Northern Superior Resources).
• Future Plans: Preliminary exploration campaign slated for the second half of 2026.
• Regulatory: Transaction subject to Canadian Securities Exchange (CSE) approval; shares issued in compliance with Canadian securities laws.

Notable Quotes

“We are pleased to have acquired 100% of the Lac Big‑Rush Property… at what we believe to be a discounted cost. We believe this asset has great discovery potential… We look forward to the planning of a preliminary exploration campaign in the second half of 2026.” – Paul A. Dumas, Executive Chairman, Precore Gold Corp.