Business
Golden Age Exploration Announces Option to Acquire 100% of MAC Minerals' Uranium Exploration Portfolio in Australia
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2026) - Golden Age Exploration Ltd. (CSE: GDN) (the "Company") ("Golden Age") is pleased to announce it
About this update from Golden Age Exploration Ltd.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - April 15, 2026) - Golden Age Exploration Ltd. (CSE: GDN) (the \"Company\") (\"Golden Age\") is pleased to announce it has entered into a Letter of Intent (\"LOI\") granting it an option to acquire 100% of the uranium exploration portfolio in Australia (the \"Property\") owned by MAC Minerals Pty Ltd. (\"MAC\"). About the Letter of Intent In consideration for the option on the exploration portfolio, Golden Age will, at the direction of the Property vendors: Issue 2,000,000 common shares; Pay CA$50,000; and Reimburse certain expenses related to the LOI and the Property. Under the terms of the LOI, Golden Age will have the right, but not the obligation, on or before June 30, 2026, to enter into a Definitive Agreement with the parties to the LOI. The Definitive Agreement shall provide that all issued and outstanding shares of MAC be transferred to Golden Age upon Golden Age issuing an aggregate of 6,000,000 common shares and paying CA$100,000. Expenditure Commitments The Definitive Agreement will require Golden Age to: undertake an aggregate of CA$1.5M of in-ground expenditures (the \"First Expenditure Commitment\") on the Property within 24 months of the signing of the Definitive Agreement (the \"First Expenditure Period\"); and undertake an aggregate of CA$2.5M of in-ground expenditures (the \"Second Expenditure Commitment\") on the Property within 36 months from the end of the First Expenditure Period (the \"Second Expenditure Period\"). Any shortfall on the First Expenditure Commitment can be satisfied through payment of cash or shares of Golden Age. If the First Expenditure Commitment is not met with 30 days of the expiry of the First Expenditure Period, the Property can be reacquired by the vendors for CA$5,000 per Project (as that term is defined below). Any shortfall on the Second Expenditure Commitment can be satisfied through payment of cash or shares of Golden Age. If the Second Expenditure Commitment is not met with 30 days of the expiry of the Second Expenditure Period, the Property can be reacquired by the vendors for $5,000 per Project. Milestone Payments on Properties Additionally, the Definitive Agreement shall provide for the following milestone payments on the Property: Upon completion of a geophysical survey on any one of the Projects: CA$25,000 in cash an...