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

Core Viewpoint - Trident Resources Corp. has successfully 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][8]. 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 northeast of La Ronge, Saskatchewan [1]. - The newly acquired claims are situated within the La Ronge Domain Central Metavolcanic Belt, which is known for its gold mineralization [4]. Agreement Terms - The total purchase price for the properties 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% [5]. - The transaction is classified as a non-arm's length transaction due to the involvement of a director from Trident who is also a director and officer of Eagle Plains [5]. Financial Position - Trident Resources Corp. has over $11 million in cash and marketable securities, positioning the company well for its upcoming drilling program at the Contact Lake Gold Project [8]. - The acquisition is seen as an attractive opportunity due to the proximity of the new properties to Trident's existing high-grade gold projects, which have numerous documented gold showings with values up to 45.5 g/t Au [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 [7].