Trans Canada Gold nearing Canadian gold project deal

Executive Summary

• Trans Canada Gold Corp. is completing due‑diligence on a gold exploration project in Canada that includes a historical NI 43‑101 resource and permits for near‑term drilling.
• The company has secured AER approval for a new Lloyd 5‑23‑49‑1W4 well and associated seven‑leg multilateral drill program near Lloydminster, Alberta, with drilling slated for 2026.
• Expected drilling, completion and equipment costs total $1.9 million (approximately $350 k net to Trans Canada), funded entirely from production cash flow, avoiding any share dilution.

Key Details

• Due‑diligence status: Finalizing verification of claims, permits, and vendor agreements for the prospective gold property acquisition; NI 43‑101 technical report pending.
• Strategic intent: Acquire and develop a large‑scale gold project with significant near‑term growth and drilling potential, leveraging current high gold prices.
• Drill permit & well licence: Formal AER approval received for Lloyd 5‑23‑49‑1W4 well; issuance of both well licence and drill permit for a seven‑leg multilateral well program.
• Location: Near Lloydminster, Alberta, Canada – a mining‑friendly jurisdiction.
• Cost estimate: Total drilling, completion, and equipment costs projected at $1.9 million; net cash outlay to Trans Canada estimated at $350,000.
• Financing: Costs will be covered by existing oil‑gas production cash flow; no equity dilution anticipated.
• Operational timeline: Drilling program expected to commence in 2026 pending final approvals and mobilization.

Notable Quotes

(No direct quotes provided in the release.)