Montreal, Quebec--(Newsfile Corp. - July 2, 2025) - Bullion Gold Resources (TSXV: BGD) ("Bullion Gold" or "The Company") is pleased to provide an update to its shareholders and the public regarding the latest developments on its gold and polymetallic exploration projects: Bousquet, Bodo, and Langlade.
Highlights:
- Olympio intersects visible gold in the first drill hole at Bousquet
- Bodo reveals new zones rich in semi-massive to massive sulphides
- Langlade presents new geological targets prospective for copper, zinc, gold, and silver
Bousquet Project
Bullion Gold's partner Olympio Metals has kicked off its maiden drill program at the high-grade Paquin prospect on the Bousquet property - and results are already promising. In its very first hole (BO-25-27), the team intersected visible gold within a smoky quartz vein, part of a broader ~9-metre mineralized zone containing quartz and sulfides (from 183 m to 192 m depth).
- BO-25-27 drill core photo available
Additional observations from the core indicate several more mineralized intervals featuring smoky quartz, sulfides, and notable alteration down to a depth of 286 metres, indicating a robust mineralizing system at depth.
The current drill program is part of a planned 10,000-metre campaign, divided into three successive phases. Drilling efforts are currently focused on the western extension of the Paquin prospect. Three more holes are planned to further test this area's mineralization potential. Analytical results are expected by the end of July.
Earn-in Agreement with Olympio Metals
Under the terms of the option agreement, Olympio Metals can earn up to an 80% interest in the Bousquet Project by:
- Investing C$2 million in exploration expenditures
- Paying C$1.25 million in a mix of cash and shares
- Managing all exploration activities
Bullion Gold will retain a 20% undivided carried interest upon completion of the earn-in.
"We're very encouraged by our Australian partner's rapid and effective execution on the ground," said Guy Morissette, President and CEO of Bullion Gold. "This initial hole at Paquin provides tangible evidence of the project's potential. The upcoming assays will further define the extent of mineralization and guide our next steps."
Bodo Project
Since early June, Bullion Gold has been actively advancing a large-scale exploration program on its Bodo project, located in the James Bay region, approximately 225 km north of Chibougamau, Québec. The property spans 410 km² (41,000 hectares) within a geologically favorable area known for its potential in strategic minerals such as copper, zinc, nickel, cobalt, lithium, rare earth elements, as well as gold and silver.
- Prospection Map Picture
- Rock Sample Picture 1
- Rock Sample Picture 2
Initial work, including historical data review and field observations, has led to the identification of multiple mineralized zones containing semi-massive to massive sulfides, with a strong presence of chalcopyrite, a key copper-bearing mineral. These findings point to significant potential for hydrothermal polymetallic and VMS-type deposits.
A first batch of rock samples will be sent to the laboratory shortly, with analytical results expected in the coming months. Meanwhile, fieldwork will continue through late July, focusing on detailed prospecting, mapping, and the delineation of new target areas.
Depending on the results obtained, the Company plans to launch a second phase of work later this year, which may include stripping and drilling operations in priority zones.
"So far, the Bodo project is living up to our expectations. Several interesting zones have been identified in the field, and this initial phase will help us better define our drilling targets," said Guy Morissette, President and CEO of Bullion Gold.
Langlade Project (Cadillac Extension)
An initial field team (a geologist and a technician) recently completed a site visit to plan upcoming work. They identified geological environments similar to the known Langlade mineralized zone, which hosts copper, zinc, gold, and silver. The zone is ~600 m long, 900 m deep, and remains open in all directions.
- Stripping Picture Langlade Showing
Eastern area findings: high concentrations of massive sulfides within a broad shear zone; a similar structural trend identified ~200 m north of the main index.
A second team will be mobilized in the coming days to continue prospecting and sample collection. A targeted basal till sampling program is also planned in favourable and accessible areas, aiming to detect potential mineralization under the overburden. Management is also evaluating the possibility of conducting a gravity survey around the main showing and the eastern part of the project.
Private Placement
Bullion Gold also announces the closing of a non-brokered private placement issuing 7,590,000 flow-through units at $0.05 per unit, raising C$379,500 gross. Each unit comprises one flow-through share and one warrant exercisable at $0.08 per common share for 18 months post-closing.
Insider participation: six insiders subscribed for 2,200,000 units; considered a related-party transaction under TSX-V Policy 5.3. The issue is exempt from formal valuation and minority shareholder approval requirements.
Broker fee: 6% cash commission (C$6,000 total) and 120,000 broker warrants, each exercisable at C$0.05 for 18 months.
Hold period: all securities are subject to a four-month and one-day hold expiring October 27, 2025. The placement remains subject to final TSX Venture Exchange approval.
Qualified Person
Scientific and technical information in this release has been reviewed and approved by M. Gilles Laverdière, P.Geo., Director of the Company and a Qualified Person under NI 43-101 standards.
About Bullion Gold Resources
Bullion Gold Resources Corp. is a Québec-based mineral exploration company focused on discovering gold and polymetallic deposits. Through strategic partnerships and active exploration, the Company seeks to build sustainable value for shareholders.
Source:
Guy Morissette
President & CEO
gmorissette@bulliongold.ca
www.bulliongold.ca
Other Information
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts no responsibility for the veracity or accuracy of its content.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to several factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Corporation's management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2024 and the first quarter ended March 31, 2025, which are available on the Corporation's profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Bullion Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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SOURCE: Bullion Gold Resources Corporation
