- Exploits Discovery Corp. (NFLDF, Financial) secures an option to acquire three advanced-stage gold projects in Québec's Abitibi Greenstone Belt.
- The projects require $1.55M in cash, 7.5M shares, and $12.25M in exploration expenditures over four years.
- The acquisition could position Exploits to develop over one million ounces of gold across its portfolio.
Exploits Discovery Corp. (NFLDF) has announced a strategic option agreement with Cartier Resources to acquire up to a 100% interest in three advanced gold exploration projects located in Québec's prolific Abitibi Greenstone Belt. The projects—Wilson, Fenton, and Benoist—collectively bolster Exploits' portfolio with substantial potential gold resources.
The Benoist project features historical indicated resources of 134,400 ounces of gold (Au) and inferred resources of 107,000 ounces Au. The Wilson project has historical resources of 187,706 tonnes at 7.1 grams per tonne (g/t) Au. Meanwhile, the Fenton project boasts historical resources of 426,173 tonnes at 4.66 g/t Au, which translates to approximately 63,885 ounces of gold. These figures are based on historical estimates and require further verification.
Under the terms of the agreement, Exploits is committed to a total of $1.55 million in staged cash payments, issuing 7.5 million common shares, and incurring $12.25 million in exploration expenditures across all properties over the next four years. Notably, Cartier Resources will retain a 2% net smelter return (NSR) royalty on the properties.
This move aligns with Exploits' growth strategy in high-impact exploration assets, further leveraged by their existing Hawkins Project in Ontario, which hosts a historical inferred mineral resource of 328,000 ounces of gold. Together, these initiatives underscore Exploits' ambition to define a resource of over one million ounces of gold across its expanded asset base, fortifying its position in tier-one mining jurisdictions.
