Gelum Plans Acquisition of Las Tinajas Gold Project, Northern Maricunga Belt, Chile

Executive Summary

• Gelum Resources Ltd. entered into a Letter of Intent to earn a 100 % interest in the 2,600‑ha Las Tinajas Gold Project in Chile for US$9 million, with a staged cash payment schedule.
• The property sits in the prolific Maricunga Gold Belt and hosts historic drilling that returned multiple >1 g/t Au intercepts (e.g., 58 m @ 1.42 g/t Au).
• Gelum plans a two‑phase exploration program to validate historical data, expand surface work, and drill additional targets toward a maiden NI 43‑101 resource estimate; the first US$100 k cash payment may be funded from proceeds of its recently announced unit financing.

Key Details

• Option Agreement Consideration: US$9,000,000 total cash payable in six installments (US$100 k at closing; US$200 k at 6 months; US$500 k at 12 months; US$1,000 k at 24 months; US$2,000 k at 36 months; US$5,200 k at 48 months).
• Work Commitment: Minimum of 4,000 m of drilling (valued at US$3,000,000) included in the payment schedule.
• Location & Access: Las Tinajas lies ~120 km NE of Copiapó, Atacama Region; accessible via a Codelco‑maintained mining road.
• Historical Drilling (1986–2025): 64 holes, 10,990 m total. Notable end‑of‑hole intercepts:
• 43 m @ 1.18 g/t Au (DT06)
• 35 m @ 1.23 g/t Au (TT014)
• 26 m @ 2.09 g/t Au (TT004)
• 58 m @ 1.42 g/t Au (TT027)
• 82 m @ 0.93 g/t Au (TDH‑010)
• Geology: Gold associated with silicified porphyry intrusions, diatreme breccias, skarn zones; surface gold soil anomaly >500 ppb; IP survey (1994) identified two strong (>40 mrad) chargeability zones.
• Exploration Plan – Phase 1: Validate historic data, expand surface exploration, commence preliminary metallurgical testing on representative samples.
• Exploration Plan – Phase 2: Drill extensions of the central diatreme and other targets to support a maiden NI 43‑101 resource estimate.
• Financing Linkage: Gelum expects to close its unit financing (announced Feb 5, 2026) by March 6, 2026; net proceeds will fund general working capital and may cover the initial US$100 k payment under the option.
• Qualified Person: John Drobe, P.Geo., reviewed technical information (not independent).

Notable Quotes

“Gelum is entering a new phase of corporate development. The acquisition of Las Tinajas is an event that will radically transform Gelum into a premier gold exploration company with a South American focus.” – Henk Van Alphen, CEO