Azucar Announces TSXV Approval of Option Agreement and Management Changes

Executive Summary

• The TSX Venture Exchange approved Azucar Minerals’ previously announced option‑joint venture agreement with Almadex Minerals, giving Azucar the right to acquire a 60% interest in three Nevada claim blocks (Pilot, Confusion Hills, Red Ring).
• Douglas McDonald resigned as Director and Executive Vice President effective October 2, 2025; he will remain in an advisory capacity to support succession initiatives.

Key Details

• Agreement Approval: TSX Venture Exchange formally approved the option‑joint venture exploration agreement originally announced on May 1, 2025.
• Option Terms: Azucar may acquire a 60% working interest in each of Almadex’s wholly owned claim blocks: Pilot, Confusion Hills, and Red Ring located in Nevada.
• Project Focus: The three prospect areas are targeted for porphyry copper‑gold exploration consistent with Azucar’s strategic focus on Nevada assets.
• Resignation: Douglas McDonald stepped down from all roles (Director & Executive Vice President) effective 2025‑10‑02.
• Advisory Role: McDonald will continue to serve in an advisory capacity to assist with succession planning and ongoing business activities.
• Corporate Sign‑off: Release signed by J. Duane Poliquin, Chairman of the Board.

Notable Quotes

“We are pleased that the TSX Venture Exchange has approved our option‑joint venture agreement, which positions Azucar to potentially expand its Nevada portfolio significantly,” – Chairman J. Duane Poliquin.

“I remain committed to supporting Azucar’s strategic initiatives in an advisory role as we transition leadership and continue our exploration programs,” – Douglas McDonald.