Bathurst acquires option to acquire Merry May

Executive Summary

• Bathurst Metals Corp. acquired a 100 % undivided interest in the Merry May project (81.6 ha) for $1,000 cash, a $50,000 work commitment over 24 months, and issuance of 2.2 million common shares (~$148.5 k).
• The transaction includes a 1 % net smelter return royalty that can be repurchased for US$1 million after commercial production begins.
• Shares will be released to the vendor over one year (20 % at closing, then 20 % each subsequent quarter) and are subject to a four‑month hold period on the TSX Venture Exchange.

Key Details

• Project Location: West side of Truax Creek, south of Carpenter Lake, near Gold Bridge, B.C., within the Minto‑Olympic‑Mary Mac structural trend.
• Land Size: One mineral claim covering 81.6 hectares.
• Consideration Paid:
• Cash: US$1,000 (payment to vendor).
• Work Commitment: Minimum $50,000 of exploration work over the next 24 months.
• Equity: 2.2 million common shares valued at approximately $148,500 based on discounted market price.
• Share Release Schedule: 20 % of the 2.2 M shares issued at closing; remaining shares released in four equal quarterly tranches over the next year.
• Hold Period: All issued shares subject to a four‑month hold period from TSX Venture Exchange acceptance date.
• Royalty Terms: 1 % net smelter return (NSR) royalty payable to vendor; can be repurchased by Bathurst Metals for US$1 million after commencement of commercial production.
• No Finder’s Fee: No additional finder’s fee was paid in connection with the transaction.
• Qualified Person: Lorne Warner, P.Geo., NI 43‑101 qualified, reviewed and approved technical disclosure (not independent).

Notable Quotes

(None provided in release)