TORONTO, ON / ACCESS Newswire / August 6, 2025 / TRU Precious Metals Corp. (TSXV:TRU)(FSE:706) ("TRU" or the "Company") wishes to announce that it has opted not to exercise the Additional Option that would have seen the Company acquire an additional 14% interest in the Staghorn Property. As such, TRU and Quadro Resources Ltd. ("Quadro") are now deemed to have entered into a 51%/49% Joint Venture Arrangement on the Staghorn Property.
On July 10, 2025 TRU announced that it had formally exercised the Initial Option to acquire a 51% interest in the Staghorn Property pursuant to an option agreement between TRU and Quadro dated June 15, 2022, as subsequently amended (the "Option Agreement"). Section 3.3 of the Option Agreement provided TRU with a 30-day period during which it could provide written notice of its intention to exercise the Additional Option enabling it to acquire an additional 14% interest in the Staghorn Property. The Company has decided not to avail itself of this right to exercise the Additional Option accordingly, the parties will now commence negotiations aimed at finalising the terms of the Joint Venture Agreement ("JVA") that will regulate the new arrangement between the parties. The JVA will contain normal industry standard terms and other terms broadly set out in the Option Agreement.
Exercising the Additional Option would have seen TRU obliged to pay $200,000 cash to Quadro, and incur $850,000 of exploration expenditures, including $510,000 of drilling activity on the Staghorn Property, within two years of having exercised the Initial Option.
TRU CEO Steve Nicol commented: "The decision not to exercise the Additional Option on the Staghorn Licenses, which cover approximately 11% of the total project area of Golden Rose, is in line with our stated aim of taking a "big picture" perspective of the entire consolidated land package. Exercising the Additional Option would have resulted in restrictions being placed upon where exploration dollars could have been spent in the next 2 years, and this was not considered the most efficient manner to advance our efforts aimed at discovering the full gold and copper potential that may exist within Golden Rose.
The TRU exploration team is now back out in the field advancing the mapping and ground truthing programs across the entire project area aimed at further refining the geological and structural site-wide model and expanding the pipeline of quality drill targets. Assay results from out drilling program completed earlier this season are now being received and will be reported upon when they have been compiled and assessed."
About TRU Precious Metals Corp.
TRU (TSXV:TRU, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development. The company's flagship project is the Golden Rose Project a regional-scale 297.50 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has a 51% interest) which straddles a 45 km strike length along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Equinox Gold Corp's Valentine Project and AuMEGA Metals Ltd' Cape Ray Gold Project. TRU is currently focused on efficiently discovering the full gold and copper potential at Golden Rose, targeting continuity along this proven gold bearing trend. The Golden Rose Project is currently subject to an Earn-In Agreement with TSX-listed Eldorado Gold Corporation ("Eldorado"), whereby Eldorado has the option to fund CAD15.25M in cash payments and exploration expenditures over 5 years to earn an 80%-interest in the Golden Rose project. Please refer to our July 30th, 2024 press release for further details of the agreement.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
For further information about TRU, please contact:
Steve NICOL
CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
X (formerly Twitter): https://x.com/metalstru
YouTube: https://www.youtube.com/@TruMetalsCorp
LinkedIn: https://www.linkedin.com/company/tru-precious-metals-corp/
Instagram: https://www.instagram.com/TRUMetals/
Facebook: https://www.facebook.com/TRUMetals/
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward-looking statements. These statements are based on numerous assumptions regarding Golden Rose, the Company's exploration programs and results, and commodities prices that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and base metals prices; volatility in economic conditions and financial markets; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: TRU Precious Metals Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/tru-elects-to-maintain-a-51-interest-in-staghorn-property-1057138
