Infield Minerals Announces Letter of Intent for an Option to Acquire the Detroit Sediment-Hosted Gold Property in Utah

Executive Summary

• Infield Minerals Corp. signed a non‑binding Letter of Intent to acquire 100 % of the Detroit sediment‑hosted gold property in Utah from Hawk Resources Ltd.
• The LOI outlines a staged cash (and/or share) payment schedule totaling $560,000 over five years, plus milestone payments tied to resource development and production.
• Historical drilling on the Mizpah zone shows multiple intercepts up to 10.01 g/t Au over 1.5 m, indicating a sizable open‑ended gold system that could complement Infield’s existing Kings Canyon project.

Key Details

• Option Terms – Cash/Share Payments:
• $40,000 at execution of definitive agreement & TSX‑V approval.
• $60,000 on the first anniversary of the definitive agreement.
• $80,000 on the second anniversary.
• $100,000 on the third anniversary.
• $120,000 on the fourth anniversary.
• $150,000 on the fifth anniversary.

• Infield may satisfy up to 50 % of any cash payment with common shares of equivalent value.

• Milestone Payments (to Hawk):

• $1.25 per ounce of gold for a Measured/Indicated resource or Proven/Probable reserve (minimum 250,000 oz).

• One‑time $1,000,000 payment upon cumulative production of ≥7,500 oz Au from the property.

• Property Overview – Detroit (Mizpah Zone):

• Open‑ended sediment‑hosted gold system covering ~500 m × 300 m.

• Historical drill intercepts include:

  • 2.14 g/t Au over 10.7 m from surface (Hole MZ‑049)
  • 2.67 g/t Au over 7.6 m from 19.8 m depth (MZ‑104)
  • 1.19 g/t Au over 21.3 m from 3.0 m depth, including 2.69 g/t Au over 7.6 m (MZ‑87‑032)
  • 1.51 g/t Au over 16.8 m from 3.0 m depth, including 2.20 g/t Au over 10.7 m (MZ‑87‑048)
  • Hole ended in mineralization: 10.01 g/t Au in a 1.5‑m sample (MZ‑87‑052).

• Geological Context:

• Located ~65 km NW of Infield’s Kings Canyon project and ~160 km SW of Bingham Canyon district.
• Property comprises ~5,115 acres of mineral leases with the State of Utah and minor unpatented claims.

• Proximity to historic Drum open‑pit gold mine (produced 3.2 Mt @ 1.23 g/t Au).

• Logistics & Infrastructure:

• Accessible via paved road from Delta, UT (≤1 hour drive).

• Existing regional infrastructure and skilled mining workforce support rapid mobilization.

• Qualified Person: Technical information reviewed by Andrea Diakow, P.Geo., qualified under NI 43‑101.

Notable Quotes

“We are excited to expand our project portfolio in Utah with a second sediment‑hosted gold property that has demonstrated potential for additional discovery and upside,” – Evandra Nakano, President & CEO, Infield Minerals Corp.

The release contains forward‑looking statements regarding the execution of definitive agreements, exploration plans, and achievement of milestone payments.