Trident Resources Announces the Acquisition of Claims from Eagle Plains Resources Within the La Ronge Gold Belt in Saskatchewan, Canada

Core Viewpoint - Trident Resources Corp. has acquired a 100% interest in 16,245 hectares of land in the La Ronge Gold Belt, enhancing its portfolio of high-grade gold assets [1][4]. Acquisition Highlights - The acquisition includes four individual blocks of land that are road-accessible and located near a high-voltage power transmission line, approximately 30 km NE of La Ronge, Saskatchewan [1]. - The purchase price consists of a cash consideration of $14,370 and a 2% NSR royalty on all 24 claims, with a buy-back option of $1 million for 1% [6]. Financial Position - The company is well-funded with over $11.0 million in cash and marketable securities, positioning it to maximize the value of its existing projects and fund upcoming exploration activities [4][9]. Geological Summary - The newly acquired claims are underlain by the La Ronge Domain Central Metavolcanic Belt, which contains numerous documented gold showings, with values ranging from trace mineralization to 45.5 g/t Au [5][9]. Strategic Focus - Trident plans to focus on exploration work, including drilling at Contact Lake to confirm high-grade potential resources and test extensions of the trend both along strike and at depth [4][9]. Related Party Transaction - The agreement is classified as a "related party transaction" due to the involvement of a director of Trident who is also a director and officer of Eagle Plains [7][10]. Regulatory Compliance - The company relied on exemptions from formal valuation and minority approval requirements under MI 61-101, as the transaction's fair market value is not more than 25% of the company's market capitalization [8]. Company Overview - Trident Resources Corp. is a Canadian public mineral exploration company focused on gold and copper projects in Saskatchewan, including the Contact Lake and Greywacke Lake projects [12].