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NatBridge Advances Cahuilla Consolidation with New LOI for Additional Deeded Parcels
TMX Newsfile· 2026-03-10 16:02
Core Viewpoint - NatBridge Resources Ltd. has entered into a Binding Letter of Intent with Teras Resources Ltd. USA to advance the consolidation of mineral interests within the Cahuilla Gold Project in California, completing the Phase 2 parcel acquisition framework [1][2]. Group 1: Acquisition Details - NatBridge proposes to acquire four additional deeded parcels of land and has secured an option to acquire three further parcels [2]. - The purchase price for the Acquisition Parcels will be based on terms from the previously announced Phase 1 acquisition, referencing a National Instrument 43-101 compliant technical report on the Cahuilla Project [4]. - The Phase 2 LOIs do not modify the existing Mineral Rights Purchase Agreement from September 2025, which pertains to Phase 1 parcels [5]. Group 2: Management Comments - The CEO of NatBridge expressed satisfaction with the milestone achieved, emphasizing a structured consolidation strategy to enhance mineral rights [3]. - The CEO of Teras Resources highlighted the constructive relationship between the companies and the collaborative approach to advancing the transactions [3]. Group 3: Transaction Conditions - The closing of the transaction is contingent upon the execution of definitive agreements, satisfaction of customary closing conditions, and receipt of regulatory approvals [6]. Group 4: Company Overview - NatBridge Resources Ltd. is a publicly traded Canadian company focused on acquiring and advancing gold-prospective mineral properties, with plans to monetize qualifying assets through tokenization within NatGold Digital's ecosystem [8].