Goldrea signs option to earn 70% stake in Snip North

Executive Summary

• Goldrea Resources Corp. entered into an option agreement to acquire a 70 % interest in Hanstone Gold’s Snip North property (3,400 ha) in British Columbia’s Golden Triangle.
• To earn the interest, Goldrea must spend $1.25 M on exploration over four years ($100k per year for Years 1‑3; $950k in Year 4) and has already applied $100k of 2025 expenditures to keep the option active through Nov. 30 2026.
• Upon exercising the option, Goldrea will become the operator of a joint venture with Hanstone, expanding its total mineral land package to approximately 8,500 ha.

Key Details

• Property Size & Location: 3,400 hectares contiguous to Goldrea’s Cannonball property; borders Seabridge Gold’s Iskut property (home to Snip North porphyry prospect and Bronson Slope deposit).
• Option Terms:
• Total exploration spend required: $1.25 million over four years.
• Annual spend schedule: $100,000 by Sept. 30 for Years 1‑3; $950,000 in Year 4.
• Immediate $100,000 of 2025 exploration expenditures applied to maintain the option through Nov. 30 2026.
• Ownership Outcome: Upon meeting spend requirements, Goldrea obtains a 70 % interest; Hanstone retains 30 %.
• Joint Venture Structure: After exercising the option, Goldrea becomes the initial operator of the JV with Hanstone.
• Finder’s Fee: To be paid in accordance with Canadian Securities Exchange regulations.
• Strategic Impact: Increases Goldrea’s total land holdings to ~8,500 ha, enhancing its presence in the Golden Triangle and positioning it for a larger 2026 exploration program.

Notable Quotes

“The joint venture with Hanstone Gold on their Snip North property is a major addition to Goldrea's holdings in the increasingly important Golden Triangle… Robust gold and copper markets should help the company raise financing for a major exploration program in 2026.” – Jim Elbert, CEO