Q-Gold Signs Definitive Agreement for the Acquisition of the Quartz Mountain Advanced Gold Project in Oregon, U.S. with Resource

Core Viewpoint - Q-Gold Resources Ltd has entered into a share exchange agreement to acquire the Quartz Mountain Project in south-central Oregon, which is expected to enhance its project portfolio significantly [2][10]. Acquisition Details - The acquisition involves purchasing all issued and outstanding shares of 0975828 B.C. Ltd, which holds the Quartz Mountain Project [2][11]. - The Quartz Mountain Project consists of 244 claims covering approximately 2,000 hectares, including 86 unpatented LODE mining claims for Quartz Mountain and 158 unpatented LODE mining claims for Angel's Camp [2][3]. - The project has a 50% interest in Angel's Camp and an option to acquire the remaining 50% and a 100% interest in Quartz Mountain upon completion of permitting and a feasibility study [2][3]. Mineral Resources - The Quartz Mountain Project has undergone approximately 100,000 meters of drilling, revealing significant mineral resources [3][6]. - As of December 31, 2024, the project hosts measured and indicated mineral resources of 12,156,000 tonnes at a grade of 0.87 g/t Au, totaling 339,000 ounces of gold, and inferred mineral resources of 39,205,000 tonnes at a grade of 0.91 g/t Au, totaling 1,147,000 ounces of gold [4][6]. Financial Terms of the Acquisition - The total purchase price includes US$2,850,000 in cash and common shares representing 9.99% of Q-Gold's issued shares at closing, with additional milestone payments totaling up to US$15,000,000 based on project development milestones [13][16]. - Milestone payments include US$3,150,000 on the first anniversary, US$2,500,000 on the second anniversary, and US$5,000,000 upon completion of a feasibility study or construction decision [16]. Strategic Importance - The acquisition is seen as a strategic move to capitalize on the rising gold prices, with expectations of prices exceeding US$3,000 per ounce [10]. - The project complements Q-Gold's existing Mine Centre property in Ontario, which has historical significance and potential for further exploration [10][19].