Hanstone options 70% of Snip North to Goldrea

Executive Summary

• Hanstone Gold Corp. entered into a property option agreement granting Goldrea Resources Corp. the right to earn a 70 % undivided interest in the 3,443‑hectare Snip North project.
• To earn the interest, Goldrea must spend $1.25 million on exploration over four years and transfer $100,000 in eligible assessment credits (subject to regulatory approval).
• Upon full earn‑in, the parties will convert the arrangement into a 70/30 joint venture for exploration and exploitation of Snip North.

Key Details

• Option Agreement Date: September 29, 2025.
• Property: Snip North project, 3,443 ha located in British Columbia’s Golden Triangle.
• Earn‑In Requirement: Total $1.25 M in exploration expenditures by Goldrea:
• $100,000 due on or before September 30, 2026
• $100,000 due on or before September 30, 2027
• $100,000 due on or before September 30, 2028
• $950,000 due on or before September 30, 2029
• Assessment Credit Transfer: Goldrea must transfer $100,000 in eligible assessment credits to extend the property expiry to June 30, 2026; if the B.C. Ministry of Mining and Critical Minerals does not permit the transfer, the option terminates.
• Resulting Ownership Structure: Upon full earn‑in, Hanstone will retain a 30 % interest and Goldrea a 70 % interest, forming a joint venture for exploration and future exploitation.
• Future Action: Parties will promptly negotiate and execute a formal joint‑venture agreement once the 70 % interest is earned.
• Executive Quote: “We are excited to have Goldrea concentrate on the advancement of the Snip North project while our team focuses on continued development of the wholly owned Doc property claims,” said Andre Douchane, Executive Chairman.

Notable Quotes

“We are excited to have Goldrea concentrate on the advancement of the Snip North project while our team focuses on continued development of the wholly owned Doc property claims.” – Andre Douchane, Executive Chairman, Hanstone Gold Corp.