Toronto, Ontario--(Newsfile Corp. - May 12, 2025) - McLaren Resources Inc. (CSE: MCL) ("McLaren" or the "Company") has purchased a 1.0 % Net Smelter Returns Royalty ("NSR") held by a prospector on the 1,495 hectare ("ha") crown claims portion of the McCool gold property located in McCool Township, Timmins, Ontario. Consideration for the purchase was $6,000 cash and 100,000 common shares of McLaren.
As a result of the above transaction, the only remaining NSR on the McCool property is held by Newmont Corporation and consists of a 1.0 % NSR on the 275 ha mining lease portion of the property.
McCool Gold Exploration Property
The McCool property is located in McCool Township 85 km east of Timmins and neighbors the Tower Gold project, the Fenn-Gib project and the Holt Mine Complex. The property is on the north side of the Destor Porcupine Fault and covers 5 km of the Centre Hill Fault. The property consists of a mining lease and crown claims with an area of 275 ha and 1,495 ha, respectively.
See McLaren news release issued on January 24, 2023 for drill results from the McCool property.
Other Exploration Properties in McLaren Portfolio
McLaren also holds a 100 percent interest in the Blue Quartz and Kerrs gold exploration properties located east of Timmins, Ontario.
The Blue Quartz property is located in Beatty Township 73 km east of Timmins and neighbors the Fox Mine, the Fenn-Gib project and the former producing Ross Mine. The property hosts the former producing Blue Quartz Gold Mine and consists of patented claims and staked claims covering an area of 640 ha. (Selected drill results from diamond drilling on the Blue Quartz Property can be found in a news release issued on February 14, 2019). The Blue Quartz property abuts immediately to the south of the Goldarm Gold Property owned by GFG Resources Inc. ("GFG") where GFG recently announced very encouraging gold results with abundant visible gold from drilling on their Aljo Target, see GFG news release issued on August 19, 2024.
The Kerrs property is located in Kerrs Township approximately 15 km north of the McCool property and consists of mining leases covering an area of 771 ha. Previous historical work on the property during the mid-1980s included 10,279 m of diamond drilling in 55 holes. The drilling was focused on an exploration target area that is an extension of a gold mineralized trend from the adjacent property to the east, known as the KBX Zone.
McLaren is currently designing exploration programs for future work on the three company owned mineral properties.
For more information, please contact:
Radovan Danilovsky, President,
Phone: 416-203-6784,
InfoMcLarenRes@gmail.com,
www.mclarenresources.com
MCLAREN RESOURCES INC.
30 Duncan Street, Suite 606
Toronto, Ontario M5V 2C3
The Canadian Securities Exchange has neither approved nor disapproved the contents of the press release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute "forward-looking statements." When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management; however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. McLaren Resources Inc. does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251729
SOURCE: McLaren Resources Inc.
