VANCOUVER, British Columbia, July 25, 2025 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSXV: WINS) ('Winshear' or the 'Company') is pleased to announce that, further to its news release of May 22, 2025, on July 17, 2025 it received final approval from the TSX Venture Exchange (the 'TSXV') of its property option agreement to earn a 100% interest in the 360km2 Thunder Bay Gold Project ('TBGP'), located immediately Northeast of Thunder Bay.
The Company has issued 100,000 shares each to two vendors, neither of whom is a related party to the Company. Initially, the Company must make minimum expenditures of $250,000 within the first 6 months, and additional expenditures of $250,000 on or before the 2nd anniversary of TSXV Approval.
The Company has also agreed to pay an advance royalty to the Vendors as follows:
a) the sum of $50,000 per year, payable annually on or before each of the 5th through 9th anniversaries of TSXV approval which at the sole discretion of the Optionee can be issued in common shares rather than cash;
b) the sum of $60,000 per year, payable annually on or before each of the 10th through 14th anniversaries of TSXV approval;
c) the sum of $500,000 on or before the 15th anniversary of the TSXV approval.
All Common Shares, in the case of paragraph (a) above, will be calculated using a volume weighted average price over 10 trading days ending before the specified anniversary date, subject to a minimum price of $0.05 per share.
The Company will issue an additional 250,000 common shares to the Vendors upon the SEDAR+ filing of an NI 43-101 compliant resource estimate of a minimum 1 million ounces of gold equivalent on the Project.
The Company has staked or acquired the rights to 1500 claims, with the project area covering 315 square kilometres. Please refer to the Company's news release of May 22, 2025, for further details.
The Company has also granted 250,000 stock options to Andrew MacRitchie, recently appointed to the Board of Directors. The Options are exercisable for a period of 5 years at a price of $0.13 per share.
About Winshear Gold Corp.
Winshear Gold Corp. is a Canadian-based minerals exploration company.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit www.winshear.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard Williams, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautions Regarding Forward-Looking Statements
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements and contain forward-looking information.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the risks normally associated with mineral exploration. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
