TORONTO, ON / ACCESS Newswire / March 27, 2026 / Further to its news releases dated February 17 and March 23, 2026, Churchill Resources Inc. ("Churchill" or the "Company") (TSXV:CRI) is pleased to announce that the TSX Venture Exchange has approved the Company's previously announced definitive option agreement (the "Option Agreement") with Canstar Resources Inc. ("Canstar") whereby Churchill has the option to acquire a 100% undivided interest in certain mining claims comprising the Golden Baie antimony-gold property located in central Newfoundland.
Pursuant to the terms of the Option Agreement, the Company today issued 15,834,097 common shares to Canstar and made a cash payment of approximately $208,167 in respect of the option to cover existing cash bonds on the Golden Baie Property.
The Golden Baie Project
The Golden Baie project is composed of 29 map-staked licences constituting 1,597 claims that in total cover 39,925 hectares or 399.25 square kilometres. The property has good access through its western and central portions with provincial highways 360 and 361 crossing the claim blocks, conveniently within a kilometre of the Swanger's Cove and Le Pouvoir high-grade antimony prospects. The area is serviced by the communities of St. Albans, Milltown and Conne River.
Canstar's work to date has outlined numerous gold-antimony occurrences along a 30-kilometre trend on the main licence block, along with the high-grade Swangers Cove prospect. Gold results from soils, prospecting, trenching and drilling are equally compelling, suggesting the presence of a very large, outcropping gold-antimony system. Churchill intends to immediately conduct a data deep-dive with the Canstar technical team and advisers to prioritize Golden Baie prospects for 2026 fieldwork plans. The Company's successful approach at Black Raven with systematic trenching and channel sampling work, followed by drilling, will be planned for Golden Baie with initiation this coming spring. Additionally, the Company plans to launch airborne geophysical surveys at the earliest possible date to augment the existing geophysical database across the entire property.
About Churchill Resources
Churchill Resources Inc. is a Canadian exploration company focused on exploration and evaluation of strategic and critical metals (including gold, silver, antimony and nickel) in Canada, principally at its prospective Black Raven, Taylor Brook and Florence Lake properties in the Province of Newfoundland and Labrador. The Churchill management team, board, and advisors have decades of combined experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill's projects have the potential to benefit from Newfoundland and Labrador's large and diversified minerals industry, which includes world class mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.
Antimony is designated as a critical mineral by the Government of Canada and its G7 allies, and it is an indispensable input for national defence, energy security, and various industrial applications including fire safety. Global antimony supply chains are concentrated among non-market actors and subject to export controls creating unacceptable vulnerability. Immediate and decisive action is needed to repatriate production to Canadian and allied soil.
Further Information
For further information regarding Churchill, please contact:
Conan McIntyre, CEO
cmcintyre@churchillresources.com
Tel. 416.272.4738 (m)
Paul Sobie, President
psobie@churchillresources.com
Tel. 647.988.0930 (m)
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about Churchill's objectives, goals and exploration activities proposed to be conducted on its properties; future growth potential of Churchill, including whether any proposed exploration programs at any of its properties will be successful; exploration results; and future exploration plans and costs. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. In particular, this release contains forward-looking information relating to, among other things, future exploration plans. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Such factors, among other things, include: exploration results on the Golden Baie Antimony-Gold Property; the expected benefits to Churchill relating to the exploration proposed to be conducted on its properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Churchill's properties, if required; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; and title to properties. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Churchill cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Churchill assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Churchill Resources Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/churchill-announces-tsxv-approval-of-golden-baie-option-agreement-1152727
