Bessor Minerals to acquire Jagrite project

Executive Summary

• Bessor Minerals Inc. entered into an Asset Purchase Agreement to acquire the Jagrite graphite project in British Columbia.
• The transaction includes cash payments of $20,000 at signing, $25,000 within 12 months, and $25,000 within 24 months, plus issuance of two million common shares to the vendor upon closing.
• The acquisition expands Bessor’s property portfolio and supports its focus on exploration and development of the Redhill VMS deposit.

Key Details

• Asset: Jagrite graphite project – 139.4 ha mineral property located on Bentinck Arm, ~30 km SW of Bella Coola, BC.
• Geology: Graphite occurrences mapped over a 400 m × 400 m area; crystalline flake graphite in biotite schist roof pendants within granodioritic gneiss; concentrations at fold crests, shear zones, and thin veins (source: BCGS fieldwork, 1992).
• Purchase Price – Cash:
• $20,000 payable upon signing of the agreement.
• $25,000 payable on or before 12 months after signing.
• $25,000 payable on or before 24 months after signing.
• Equity Consideration: Issuance of 2,000,000 common shares to the vendor at closing.
• Closing Conditions: Completion of cash payments and share issuance as stipulated; no additional contingencies disclosed.
• Strategic Rationale: Adds a graphite prospect to Bessor’s existing portfolio, complementing its primary focus on the Redhill volcanogenic massive sulphide deposit and providing potential future exploration upside.

Notable Quotes

“We are excited to add the Jagrite graphite project to our existing property portfolio and look forward to further planning and implementing of exploration.” – Jason Riley, Chief Executive Officer, Bessor Minerals Inc.