Langley, British Columbia--(Newsfile Corp. - March 9, 2026) - Newterra Resources Inc. (CSE: NT) ("Newterra Resources" or the "Company") announces that it has entered into an option agreement to acquire a 100% interest in the Willans Gold property located within the prolific Red Lake Mining District in the Province of Ontario, Canada.
The Willans Gold property is a large strategic contiguous land position exceeding 5,700 hectares within the projected eastern extension of the main Red Lake Mine trend. The property is located approximately 15km east of Evolution Mining's Red Lake Mine and approximately 10km north of Kinross's Great Bear Dixie deposit. The Willans Gold property is immediately adjacent to, and borders on three sides, Kinross's Sobel project.
The highly prospective geological contact between the Balmer and Confederation Assemblages is interpreted to intersect through the Willans property. Historically, the most significant gold deposits in the Red Lake camp have been discovered within several hundred meters of this specific contact.
The Willans Gold property is highly accessible, with the southern boundary located only 8km from paved highway 105 into Red Lake, and an extensive network of forest service logging roads and logging cutblocks covering much of the property.
Darren Blaney, CEO commented: "We are very pleased to have secured a second highly prospective gold property in the Red Lake Mining Camp. The combination of the Willans Gold property's close proximity to the Red Lake Mine complex, along with it being on trend and with similar underlying geology, make it a highly strategic piece of ground. We look forward to getting on the property this spring."
Figure 1: Red Lake Gold Projects | Newterra Resources
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Terms of the Transaction
The Company has signed a three-year option agreement (the "Agreement") with Gravel Ridge Resources Ltd. and a private company owned by Perry English (the "Optionors") pursuant to which the Company may acquire a 100% interest in the Willans Gold property. In order to fully exercise its option and acquire the Willans Gold property, over a three year period the Company will pay an aggregate of $101,050 and issue 300,000 common shares of the Company. The Optionors will retain a 1.5% net smelter returns production royalty ("Royalty"). The Company or its assigns will have the right to purchase a 0.5% Royalty for $600,000, leaving the Optionors with a 1.0% Royalty. All securities issued in connection with the Agreement will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the CSE and applicable securities laws.
About Newterra Resources
Newterra is a gold and silver exploration company led by experienced management with a track record of significant discovery.
The Company holds a 100% interest in the Iron Horse Project located near Kelowna, in the Province of British Columbia.
The Company also holds an optioned interest in the Ferdinand Gold project located in the Red Lake Mining District of NW Ontario.
On behalf of the Board of Directors
"Darren Blaney"
Darren Blaney
CEO, President and Director
Contact Information
Newterra Resources Inc.
Darren Blaney, Chief Executive Officer
Email: info@newterraresources.com
Telephone: 604-290-6152
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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Source: Newterra Resources Inc.
