Bathurst Metals to acquire 100% of Merry May gold claim

Executive Summary

• Bathurst Metals Corp. entered into an assignment and assumption agreement to acquire a 100 % undivided interest in the 81.6‑hectare Merry May claim near Gold Bridge, B.C.
• As consideration, Bathurst will issue 2.2 million common shares to the vendor (subject to TSX Venture Exchange approval) and reimburse $1,000 paid under the original option agreement.
• The company must spend a minimum of $50,000 on the claim within 24 months to exercise the option and will be subject to a 1 % net smelter royalty (with an optional purchase right for the NSR at $1 million USD).

Key Details

• Assignment & Assumption Agreement: Dated September 4, 2025; transfers the vendor’s 100 % interest in the Merry May claim to Bathurst.
• Consideration: Issuance of 2.2 million common shares to the vendor; all shares subject to a four‑month hold period pending TSX‑V approval.
• Reimbursement: Bathurst will reimburse the vendor $1,000 paid under the original option agreement upon receipt of TSX‑V approval.
• Expenditure Requirement: Minimum $50,000 of qualifying expenditures on the claim must be incurred within 24 months from the option date to retain the option.
• Net Smelter Royalty (NSR): 1.0 % NSR payable to the underlying optionor; Bathurst may purchase the NSR for $1 million USD at any time after commercial production commences.
• Project Location: Merry May claim is situated on the west side of Truax Creek, south of Carpenter Lake in a historically prospective gold‑bearing region of British Columbia.
• CEO Comment: “The Merry May project is located in one of the most prospective areas for gold mineralization in British Columbia… Easy access will enable us to work year round to advance its development.” – Hardy Forzley, CEO.
• Additional Disclosure: The company also disclosed payment of $7,175 in finders’ fees related to a recently closed private placement (referencing prior release dated August 15, 2025).

Notable Quotes

“The Merry May project is located in one of the most prospective areas for gold mineralization in British Columbia, on the west side of Truax Creek, south of Carpenter Lake. Easy access will enable us to work year round to advance its development.” – Hardy Forzley, CEO

Qualified Person: Lorne Warner, P.Geo., NI 43‑101 qualified, reviewed and approved the scientific and technical disclosure.