Quadro, Tru Precious Metals sign Staghorn JV deal

Mr. T. Barry Coughlan reports QUADRO CONFIRMS EXECUTION OF JOINT VENTURE AGREEMENT ON STAGHORN PROPERTY Quadro Resources Ltd. has executed a joint venture agreement (JVA) with Tru Precious Metals Corp. governing the parties' respective 49-per-cent (Quadro) and 51-per-cent (TRU) interests in the Staghorn property, located within Tru's broader Golden Rose project in Newfoundland, located along the auriferous Cape Ray fault and proximal to Equinox Gold Corp.'s Valentine mine. The JVA formalizes the joint venture relationship that became effective July 5, 2025, following Tru's decision not to exercise its additional option under the original option agreement dated June 15, 2022 (as amended). Key commercial terms Under the JVA: The parties will finance approved programs and budgets on a pro rata basis (51 per cent Tru/49 per cent Quadro). A management committee has been established with two representatives appointed by Tru and one representative appointed by Quadro. Tru will act as operator and is entitled to a 10-per-cent operator fee on qualifying joint venture expenditures. Standard dilution provisions apply in the event a party elects not to finance approved expenditures. The JVA contemplates certain royalty conversion mechanics in defined circumstances. Quadro notes that these terms are consistent with the framework contemplated under the original option agreement. Quadro's position and strategic context The Staghorn property represents a significant asset within the Golden Rose land package. Quadro's 49-per-cent participating interest preserves substantial exposure to exploration upside while limiting capital obligations relative to a 100-per-cent ownership structure. The JVA remains subject to the rights of Eldorado Gold Corp. under its earn-in agreement with Tru on the broader Golden Rose project. Quadro continues to evaluate capital allocation and exploration priorities across its broader project portfolio and will participate in approved programs at Staghorn consistent with its strategic and financial objectives. T. Barry Coughlan, chief executive officer and president, commented: "This agreement clarifies how the Staghorn joint venture will operate going forward. Quadro retains a strong 49-per-cent interest, and we look forward to advancing the project in a practical and disciplined way while protecting shareholder value." Further updates regarding exploration plans and budgets will be provided as they are approved by the joint venture management committee. About Quadro Resources Ltd. Quadro Resources is a publicly traded mineral exploration company with approximately 36 million shares outstanding, listed on the TSX Venture Exchange under the ticker symbol QRO. The company focuses on gold exploration in North America. Quadro owns a 49-per-cent interest in the Staghorn property while Tru Precious Metals holds 51 per cent. Quadro maintains a 100-per-cent ownership in its Long Lake property. Both properties are located along the Cape Ray fault in Newfoundland and Labrador. We seek Safe Harbor.