Winnipeg, Manitoba--(Newsfile Corp. - March 2, 2026) - Exter Gold Corp. (CSE: XGOL formerly BDR) (formerly, Bird River Resources Inc.) (the "Company") is pleased to announce that, further to its news release dated December 11, 2025 regarding the entry into a binding letter of intent with Analog Gold Inc. ("Analog") to acquire certain assets from Analog (the "Transaction") comprised of: (i) Analog's wholly-owned subsidiary and a corporation existing under the laws of Mexico and (ii) Analog's interest to receive royalties in relation to the San Miguel Project (together, the "Purchased Assets"), the Transaction is proceeding as anticipated and that the Company is actively compiling the documentation required to submit its application to the CSE for approval of the Transaction as a Fundamental Change, including the completion of a technical report pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the required financial statements. The Company intends to hold an annual general and special meeting of its shareholders to seek the approvals required in connection with the Transaction in accordance with the policies of the CSE.
The Company also provides the following update regarding the progress of its operations. The Tadeo Mill (the "Mill"), a processing facility, situated approximately 47 km south of Mazatlan which is operated by the Company on lease, and forms part of the Purchased Assets, has stabilized its operations. The Mill has been able to process over 28,000 tons of ore sourced from third parties from October 2025 to date. Development of the Tres Oros mine is underway and production is expected to commence in Q2 of 2026. Further, the permitting process for the El Dorado property has advanced and drilling is expected to commence in Q2 of 2026. The Company expects to be cash flow positive by the end of 2026.
Closing of Private Placement
The Company is also pleased to announce that it has completed the first tranche of its previously announced non-brokered private placement (the "Offering") of 3,244,826 common shares in the capital of the Company (the "Shares") at $0.105 per Share for aggregate gross proceeds of $340,706.73.
In connection with the Offering, the Company paid aggregate cash finder's fees of $8,400, issued 90,361 finder's compensation Shares at $0.105 per Share, and issued 80,000 finder's compensation warrants to the eligible finders (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to purchase one Share of the Company at $0.15 per Share for a period of 24 months from the date of issuance.
The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes. All currency references in the news release are in Canadian currency unless otherwise noted. The Shares were issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws.
Correction of Disclosure
The Company provides correction to the disclosure of the non-brokered private placement financing of common shares in the capital of the Company announced in the press release dated December 5, 2025 (the "December Offering"). The Company completed the December Offering for aggregate gross proceeds of $1,480,033.70 by issuance of an aggregate number of 14,800,337 Shares at a price of $0.10 per Share. In connection with the December Offering, Entertainment Insurance Consultants, Inc. ("EIC") acquired 6,223,132 Shares (the "Acquired Shares") pursuant to a subscription agreement entered into between EIC and the Company. The Acquired Shares beneficially held by EIC represent approximately 7.62% of the issued and outstanding Shares on a non-diluted basis.
About Exter Gold (formerly Bird River Resources)
Exter Gold (formerly Bird River Resources) is a Winnipeg, Manitoba based resource company focussed on advancing quality mineral exploration and development properties. Upon completion of its Transaction with Analog Gold Inc., the Company will be a fully integrated producing gold and silver mining company located in a Tier-1 mining district east of Mazatlán, Mexico. Exter's key assets will include a fully operational Processing Mill with a capacity of processing 600 tons per day of ore, a producing mine Tres Oros, a near term producing high grade gold property El Dorado and two key exploration properties San Fernando and San Ramon located next to Vizsla Silver's high-grade Panuco Project with similar mineralization. Additional information regarding the Company is available at www.sedarplus.ca.
For further information, please contact:
Jon Bridgman, CEO & Director
Exter Gold Corp.
Tel: 1-877-587-0777
Email: jonbirdriver@gmail.com
The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Cautionary Note Regarding Forward-Looking Statements:
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact included herein including, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are generally, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", "plans" and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: receipt of any required regulatory approvals for the completion of the Offering, the anticipated use of proceeds from the Offering, the anticipated closing of the Transaction and receipt of necessary regulatory and shareholder approvals, the expected commencement of mine production and exploration drilling, and the Company's expectations regarding its future financial performance and outlook.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct or accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. The statements in this press release are made as of the date of this release. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this press release.
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Source: Exter Gold Corp.
