BLACK DRAGON RESOURCE COMPANY PROVIDES CORPORATE UPDATE; TEXAS FRAC SAND ACQUISITION REMAINS ON TARGET, FULL LONQUIST REPORT ATTACHED, AND OPEN-MARKET SHARE BUYBACK TO BEGIN AUGUST 31
DALLAS, TX / ACCESS Newswire / August 27, 2026 / Black Dragon Resource Companies, Inc. (OTC PINK:BDGR) ("Black Dragon" or the "Company") today provided shareholders with an update on its previously announced Texas frac sand acquisition, its significant open-market share buyback initiative, and the independent engineering evaluation prepared by Lonquist & Co., LLC.
As part of the Company's commitment to transparency, the complete Lonquist & Co. independent engineering report is attached to this press release and is being disclosed publicly in its entirety for shareholders and prospective investors to review.
Texas Frac Sand Acquisition Remains on Target
Black Dragon is pleased to report that the acquisition of its contracted Texas frac sand property remains on target for completion.
As previously announced, the purchase agreement provided for a 45-day closing period. The Company continues working through the closing process and currently expects the transaction to be completed within the anticipated timeframe, subject to the satisfaction of applicable closing conditions.
Following completion of the acquisition, Black Dragon intends to advance the property toward commercial operations as quickly as practicable.
Complete Lonquist & Co. Independent Engineering Report Attached
Rather than providing shareholders solely with management's summary of the technical findings, Black Dragon has elected to attach and publicly disclose the complete independent engineering evaluation prepared by Lonquist & Co., LLC.
The Company encourages shareholders and prospective investors to review the attached report in its entirety.
Lonquist evaluated a 450-acre potential mining region and drilled seven core holes throughout three separate 150-acre potential extraction areas. Core samples were evaluated by engineers and analyzed at the Lonquist Frac Sand Lab in College Station, Texas.
The independent analysis estimated approximately 50.8 million tons of 40/140 frac sand product within the initial extraction areas and approximately 64.7 million tons of total sand resources. The total resource consisted of approximately 50.8 million tons of 40/140 product, 9.3 million tons of oversized material, and 4.6 million tons of fines.
The report also included testing conducted in accordance with API Standard 19C. Crush resistance testing produced K-values ranging from 5K to 9K across the tested intervals. Full 19C testing on selected samples also evaluated sphericity, roundness, bulk density, turbidity, and acid solubility.
Black Dragon has previously estimated the frac sand resources associated with the property at approximately $1.5 billion. The Lonquist report itself provides estimates of resource tonnage and technical characteristics. By attaching the complete report to this release, the Company is providing the underlying technical analysis so investors can review the findings directly.
Open-Market Share Buyback to Begin August 31
Black Dragon also confirmed that its previously announced significant open-market share buyback initiative is scheduled to begin on August 31, 2026.
Chairman Anthony Saviano intends to purchase BDGR shares in the open market, with shares acquired through the initiative intended to be placed into the Company's treasury.
Management believes the buyback represents an important component of Black Dragon's broader capital strategy and demonstrates continued confidence in the Company's long-term direction. The Company believes the initiative can strengthen its capital structure while further aligning management's interests with those of shareholders.
The Company intends to provide additional updates regarding the progress of the buyback as appropriate.
"We believe transparency and execution go hand in hand," said Chairman Anthony Saviano. "The Texas acquisition remains on target, our open-market share buyback is scheduled to begin on the week of August 31, and today we are providing shareholders with the complete independent Lonquist report underlying the technical evaluation of this asset. We don't want shareholders to simply rely on our summary. We want them to have the opportunity to review the complete report and its findings for themselves.I am excited about completing these projects so we can bring value to the company and its shareholders!""
"Our focus now is completing what we started. We expect to complete the acquisition, advance the property toward commercial operations, and execute our share buyback strategy. We believe accomplishing these objectives will represent another major step forward as we continue building Black Dragon into an operating natural resource company positioned for long-term growth."
Looking Ahead
Black Dragon's immediate priorities remain clear: complete the Texas frac sand property acquisition, advance the asset toward commercial operations, begin the open-market share buyback on the week of August 31, and continue strengthening the Company's corporate and capital structure.
The Company is also continuing the previously announced process of positioning Black Dragon for higher-market eligibility while evaluating additional natural resource acquisitions and strategic opportunities capable of complementing its growing portfolio.
Management believes the combination of a substantial independently evaluated frac sand resource, a path toward commercial operations, disciplined capital management, and continued corporate development provides Black Dragon with a strong foundation for its next phase of growth.
The complete independent engineering evaluation prepared by Lonquist & Co., LLC is attached to this press release and is being made available for public review.
About Black Dragon Resource Companies Inc.
Black Dragon Resource Companies Inc. is a natural resource development company focused on the acquisition, development, and operation of frac sand, rare earth mineral, and oil and gas properties throughout the United States. The Company is committed to utilizing innovative, efficient, and environmentally responsible technologies to maximize the value of its assets while operating safely and responsibly.
Contact Information
Anthony Saviano
+1-312-613-4564
Blackdragonresource@mail.com
SOURCE: Black Dragon Resource Companies, Inc.
Related Documents:
- RJK Ranch Holdings Frac Sand Resource Report_2019-06-21
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/shareholder-update-1213200
