Newterra signs option for Willans gold property

Executive Summary

• Newterra Resources Inc. entered into a three‑year option agreement to acquire 100 % of the Willans gold property in Ontario’s Red Lake mining camp.
• To exercise the option, Newterra will pay $101,050 and issue 300,000 common shares; the optionors retain a 1.5 % NSR royalty (with an optional purchase of a 0.5 % royalty for $600,000).
• The Willands property comprises >5,700 ha adjacent to major Red Lake deposits, providing strategic expansion of Newterra’s Red Lake footprint.

Key Details

• Property: Willans gold property, Red Lake mining district, Ontario – >5,700 hectares, contiguous land bordering Kinross’s Sobel project and near Evolution Mining’s Red Lake mine.
• Option Terms:
• Duration: 3 years.
• Consideration to fully exercise: $101,050 cash + issuance of 300,000 Newterra common shares.
• Royalty retained by optionors: 1.5 % net smelter return (NSR).
• Optional purchase: Company may buy a 0.5 % royalty for $600,000, reducing optionor royalty to 1.0 %.
• Hold Period: All shares issued are subject to a hold period of four months and one day from issuance per CSE policies and securities laws.
• Strategic Rationale: Property sits within the eastern extension of the main Red Lake trend, near historic gold contacts (Balmer‑Confederation assemblage) and major operating mines, enhancing Newterra’s exploration potential.
• Access: Southern boundary ~8 km from Highway 105; extensive forest service roads across the property.

Notable Quotes

“We are very pleased to have secured a second highly prospective gold property in the Red Lake mining camp… We look forward to getting on the property this spring.” – Darren Blaney, CEO, Newterra Resources Inc.