Vancouver, BC, Canada, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Big Bear Gold Corp. (TSXV: BEAR) (the "Company" or "BEAR") is pleased to announce that it has entered into an assignment and assumption of property option agreement (the "Assignment Agreement") dated September 25, 2026, with Bathurst Metals Corp. (TSXV: BMV) ("BMV") and Stanley R McClay as bare trustee for BCT Holdings Corp. (the "Owner"), pursuant to which the Company will acquire BMV's 100% optioned interest in the Peerless Property located in the Bridge River Mining Camp, British Columbia.
The Peerless Property encompasses 12 mineral claims covering 5,500.43 hectares. It has the same geological setting as surrounding mines and deposits where thrust faults and secondary faults cross anomalous zones, a classic setting for orogenic gold mineralization. It can be viewed as an intermediate orogenic gold system bridging the Bralorne and Reliance styles in Canada's highest-grade historic gold district. It's a compelling and underexplored project with five distinct gold zones already identified: beta, delta, gamma, alpha and epsilon. The project is drill ready with an active drill permit. The project has year-round access with an extensive network of forestry roads crossing the property. Historical RC drilling from Manhatten Minerals in 1987 include 4.52 metres of 28.93 grams gold and 1.52 metres of 35.12 grams gold from the beta zone.
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Terms of the Assignment Agreement
Pursuant to the terms of the Assignment Agreement, BMV will sell and assign to the Company, and BEAR will acquire and assume, all of BMV's rights and interest in and obligations under a property option agreement between BMV and the Owner dated January 30, 2023, as amended October 10, 2025, and February 18, 2026 (the "Option Agreement"), in consideration for which BEAR will issue to BMV 3,555,000 common shares of the Company. In addition, the parties have agreed that each will pay 50% of the cost of preparing an independent NI 43-101 compliant technical report on the Peerless Property. BMV has also agreed to pay the Owner $25,000, which sum will be applied against and reduce the outstanding cash payment otherwise due to the Owner under the Option Agreement. BMV and the Owner are arm's length to BEAR.
After BMV's payment to the Owner described above, the outstanding cash payments, expenditure commitments and share issuances due under the Property Option Agreement, in order to acquire a 100% interest in the Peerless Property, will be as follows:
| Cash Payments | Expenditures | BEAR Common Shares | |
| June 30, 2027: | $25,000.00 | -- | 2,000,000 |
| January 31, 2028: | $50,000.00 | -- | -- |
| September 30, 2028 | $75,000.00 | $1,000,000.00 | 3,500,000 |
| January 31, 2029 | $100,000.00 | -- | -- |
| September 30, 2029 | $100,000.00 | $1,000,000.00 | -- |
| TOTAL: | $350,000.00 | $2,000,000.00 | 5,500,000 |
Pursuant to the Option Agreement, the acquisition of the Peerless Property is subject to a 2.5% net smelter returns royalty ("NSR Royalty") in favour of the Owner, which in turn is subject to a buy-back right entitling the optionee thereunder to purchase a 1.0% NSR Royalty for $1,000,000 within 6 months of commencement of commercial production.
All shares issued in connection with this transaction will be subject to a hold period expiring four months and one day from their date of issuance.
Closing of the transactions contemplated by the Assignment Agreement is subject to the Company's satisfactory due diligence on the Peerless Property within 90 days. In addition, the Assignment Agreement, including the transactions contemplated thereunder, is subject to TSX Venture Exchange approval.
QP
The technical content of this news release has been reviewed and approved by Lorne Warner, a qualified person as defined by National Instrument 43-101. Lorne Warner also acts as President of Bathurst Metals Corp.
About Big Bear Gold Corp.
Big Bear Gold Corp. is focused on acquiring and developing mineral properties with strong potential to host significant resources in Western Canada. We are looking for additional projects that are in an established mining district with highly prospective geology that could host significant resources.
ON BEHALF OF THE BOARD OF DIRECTORS
"Peter Laipnieks"
Peter Laipnieks, President & CEO
Contacts:
Big Bear Gold Corp.
Suite 900, 570 Granville Street
Vancouver, BC V6C 3P1
Investor Relations: (250) 216.5674
Email:bigbeargold007@gmail.com
Website:www.bigbeargold.com
The TSX Venture Exchange has in no way passed upon the merits of the proposed acquisition and has neither approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts 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. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to satisfactory due diligence, TSXV approval, the payment of costs relating to a NI 43-101 technical report, the assumption and satisfaction of the obligations under the Option Agreement including completion of all outstanding property option payments, the NSR Royalty and buy-back right relating thereto, and the timing and completion of the proposed transactions. Forward-looking statements are based on the current opinions and expectations of management. 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. Actual events or results may differ materially from those projected in the forward-looking statements and the Company cautions against placing undue reliance thereon.
The Company believes that the expectations reflected in forward-looking statements included herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to revise or update these forward-looking statements, except as required by applicable law.
