Adelphi Metals Inc. Options The Brady Sudbury Project

Executive Summary

• Adelphi Metals signed an option agreement to acquire the Brady Sudbury Project (8,811 ha) with potential for gold, IOCG, nickel‑copper and placer mineralization.
• To earn a 100% interest, Adelphi will pay $710,000 cash plus 1,450,000 common shares over three years and incur $1.05 M of exploration expenditures; the vendor receives a 2.5% NSR with a buy‑back right.
• The company announced a non‑brokered private placement of 5 million units at $0.10 per unit, raising $500,000 gross proceeds to fund mineral assets, potential acquisitions and working capital.

Key Details

• Option Agreement Terms
• Total area: 8,811 ha covering Parkin (Golden Pine, Marble Mountain, Black Creek, Terra Incognita), Fraleck and River North claim groups.
• Payment schedule: $710,000 cash + 1,450,000 common shares over three years; exploration expenditures of $1,050,000 during the same period.

• Vendor NSR: 2.5% (Adelphi may repurchase 1% for $1.5 M at any time).

• Project Highlights – Historical drill and sampling results indicating significant mineralization:

• Golden Pine (Parkin): 29.8 g/t Au & 55 g/t Ag over 0.69 m; 6.89 g/t Au over 1.37 m; 14.62 g/t Au & 34.29 g/t Ag over 0.76 m.
• Galena/Pyrite Hill: 3.2 g/t Au, 0.34 g/t Ag, 0.36 ppm Te (5 m); 21.19 g/t Au & 1.4 g/t Ag over 0.68 m (drill hole SM‑21‑03).
• Calcite Showing: up to 3.1 g/t Au and 20.57 g/t Au; also 0.85% Cu, 0.66% Ni, 3% Zn, 0.07% Co.
• River North (IOCG potential): historic grab samples – 2.00% Cu & 8.7 g/t Ag; 0.91 oz/ton Au & 12.93% Pb on Fraleck/Tower showing.

• Vermilion River placer targets: overburden hole sample 20 yielded 225 grains (≈6,658 ppb Au); diamond drill hole BC‑11‑002 intersected 2.27 g/t Au over 1.0 m.

• Private Placement Financing

• Units offered: 5,000,000 units @ $0.10 per unit → gross proceeds $500,000.
• Unit composition: 1 common share + ½ transferable share purchase warrant (full warrant = right to buy 1 share at $0.15 for 24 months).
• Use of proceeds: advance mineral assets, potential acquisitions, and general working capital.

• Holding period: four months per Canadian securities regulations.

• Additional Terms

• Finders’ fees may be payable subject to CSE policies.
• Shares issued under the option agreement are also subject to a four‑month hold period.

Notable Quotes

“We are excited to add the Brady Sudbury Project to our portfolio, which offers multiple mineralization styles and significant upside,” – Mike England, CEO & Director.