Vancouver, British Columbia--(Newsfile Corp. - February 18, 2026) - SASQUATCH RESOURCES CORP. (CSE: SASQ) ("Sasquatch" or the "Company") is pleased to announce it has executed an asset purchase agreement (the "Agreement") dated as of February 18, 2026 with Justin Deveault (the "Vendor") to acquire 9 mineral claims (the "Claims") covering approximately 2,520 hectares located on Vancouver Island, British Columbia. The Agreement also provides that an additional 10 mineral claims, covering approximately 201 additional hectares in the area, which are currently under application by the Vendor, are also covered by the Agreement and will be conveyed by the Vendor to Sasquatch if and when each applied-for claim is granted.
The Claims represent five documented mineral occurrences known as Lucky Strike, Star of the West, B & K, Golden Eagle and Golden Dome, and their locations are depicted in Map 1 below.
Map 1 - Recently acquired Claims near Port Alberni
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Of particular interest to the Company are areas of waste rock from historical mining which has occurred throughout the area, and sections of new logging road which have been built through and with mineralized rock, producing significant volumes of what appears to be sulphide rich material (two such areas are pictured below). In the coming months it is planned that these areas, both historical mining waste rock piles and new logging road sections built through mineralization, will be systematically assessed for mineral content and overall volumes.
Photograph 1 - Area of mineralization extending on both sides of a new logging road through the Golden Dome occurrence.
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Photograph 2 - Close up of logging road building material used over significant stretch at Golden Dome.
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Photograph 3 - Logging road running through an area of copper mineralization at Golden Eagle.
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Photograph 4 - Close up of logging road building material used over significant stretch at Golden Eagle.
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Historical exploration results, as well as results from more recent sampling programs, will be reported once properly reviewed by a Qualified Person, and as noted, the Company plans to start systematically assessing both mineral composition and volumes where waste rock is found in significant volumes.
Sasquatch CEO, Peter Smith, commented, "These are precisely the types of opportunities we are looking for - areas where both mining waste and recent logging road construction may present an opportunity to find easily accessible and potentially mineral-rich waste rock. In many cases, these waste piles appear to be high in sulphide minerals which have the potential for production of ongoing environmental problems. Moreover, the grades within these waste piles could prove economic, and thus present a revenue opportunity while remediating said hazards, using a fairly simple process of ore-sorting the waste to remove any gold, silver and/or copper, but also more hazardous elements such as lead, sulphur and/or arsenic. This is essentially what we've been working on at Mount Sicker, and these new areas just add to what is becoming a robust pipeline of projects to follow. Assuming we can successfully navigate permitting and our proposed project execution plan at Mount Sicker, these new areas continue to present win-win scenarios for Sasquatch, local communities and the Province. Legacy mine-sites and hazardous waste areas can be addressed and critical minerals and other elements can be added to the supply chain, all without the need to establish new mining infrastructure."
Under the Agreement, to acquire the Claims the Company is obligated to issue an aggregate of 1,500,000 common shares of the Company (each, a "Share") to the Vendor. The Shares will be issued a price of $0.0825 per Share, representing a purchase price of $123,750. When issued, the Shares will be subject to a four month hold period in accordance with applicable securities laws.
The Company will also issue a 2.0% net smelter returns royalty on the Claims to the Vendor. Sasquatch will have the right to repurchase one-half of the royalty by paying $500,000 to the Vendor at any time.
As Mr. Deveault is an insider of the Company, the transaction is a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation requirement under MI 61-101 because the fair market value of the transaction is not more than 25% of Sasquatch's market capitalization. All of Sasquatch's directors (except for Mr. Deveault, who abstained from voting) unanimously approved the transaction. The Company did not file a material change report at least 21 days before signing the Agreement. Filing of the material change report in this manner is reasonable given the small size of the transaction and the MI 61-101 exemptions noted above.
About the Company
Sasquatch Resources Corp. is a mineral exploration company focused on its Mount Sicker Property in southern Vancouver Island, British Columbia, the Blue Grouse Property, located about 30km from the Mount Sicker Property on the south side of Lake Cowichan, the Santana Property (the area known as the former Santana mine) on Quadra Island, British Columbia, and the Slesse Property near Chilliwack, British Columbia. Each of the properties contain significant opportunities to explore, define and potentially process/remove waste rock, which is the Company's primary focus, but also offer opportunities for the discovery of new deposits.
For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at psmith@sasquatchresources.com or by telephone at 778.999.7030.
On Behalf of the Board of Directors,
Peter Smith
Chief Executive Officer
778.999.7030
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of its mineral properties. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
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Source: Sasquatch Resources Corp.
