Newterra Resources Enters into Option Agreement to Acquire Ferdinand Gold Property Located in Red Lake District of Ontario

Executive Summary

• Newterra Resources entered into a three‑year option agreement to acquire 100% of the Ferdinand Gold property in Ontario’s Red Lake Mining District.
• Consideration: up to $77,000 cash plus issuance of 300,000 common shares; optionors retain a 1.5% NSR royalty (with an optional purchase of a 0.5% royalty for $600,000).
• The property comprises >15,000 acres in a highly prospective greenstone belt adjacent to several active mining projects.

Key Details

• Property: Ferdinand Gold, >15,000 acres, located within the Confederation‑Uchi Greenstone Belt, straddling the Fry‑Bamaji Deformation Zone, Red Lake Mining District, Ontario.
• Option Terms:
• Option period: three years.
• Cash payment: aggregate $77,000 payable over the option term.
• Equity consideration: issuance of 300,000 Newterra common shares (subject to a four‑month‑plus‑one‑day hold period).
• Royalty retained by optionors: 1.5% net smelter return (NSR).
• Optional purchase: Newterra may acquire an additional 0.5% NSR royalty for $600,000, reducing optionor’s royalty to 1.0%.
• Strategic Context:
• Property lies near First Mining’s Springpole Gold project and the Kenorland/Auranova South Uchi project.
• Recent staking activity in the area by Kenorland, Elemental Royalty, Kinross, and First Mining indicates heightened interest.
• Access Improvements: Recent logging operations have opened new roads and cutblocks, improving access to previously unsampled bedrock.
• Management Quote (CEO Darren Blaney): “We are very pleased to have secured the Ferdinand Gold property as we believe it has great potential… We look forward to getting boots on the ground.”

Notable Quotes

• “Very recent logging operations have now opened access considerably with new logging roads and cutblocks potentially exposing previously unsampled bedrock structures. We look forward to getting boots on the ground.” – Darren Blaney, CEO & President.