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Grafton Resources Announces Letter of Intent for Acquisition of Two Gold Projects in Chile
Vancouver, British Columbia – TheNewswire - May 19, 2026 - Grafton Resources Inc. (CSE:GFT; OTCQB: GFTFF) (FSE: K8L0) (“Grafton” or the “Company”) is pleased
About this update from Grafton Resources Inc
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - May 19, 2026 - Grafton Resources Inc. (CSE:GFT; OTCQB: GFTFF) (FSE: K8L0) (“Grafton” or the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”) with Newmont USA Limited (“Newmont”) regarding the Company’s proposed acquisition of two gold-focused exploration projects (the “Projects”) located in Chile (the “Proposed Acquisition”). The Company anticipates that the Proposed Acquisition, if completed, would further strengthen Grafton’s exploration portfolio in Chile and complement its existing regional land position. Management believes the Projects demonstrate attractive geological characteristics and provide potential operational and exploration synergies with nearby properties currently held by the Company. Grafton considers the broader district to be highly prospective and believes the consolidation of strategically located concessions may enhance future exploration planning and regional-scale targeting opportunities. The parties intend to negotiate and enter into a definitive agreement (the “Definitive Agreement”) in respect of the Proposed Acquisition. Entry into the Definitive Agreement is subject to satisfactory tax, corporate and securities law advice for each of the Company and Newmont. Completion of the Proposed Acquisition remains subject to a number of conditions, including completion of due diligence, negotiation and execution of definitive documentation, and receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”). The LOI does not create a binding obligation on either party to complete the Proposed Acquisition, except with respect to certain customary binding provisions. Campbell Smyth, Chief Executive Officer of Grafton, commented: “We are very pleased to have reached this stage. The Proposed Acquisition aligns with Grafton’s strategy of building a strong district-scale position in prospective mineral belts within Chile. We believe the Projects may offer compelling geological and operational synergies with our existing land holdings, and we look forward to advancing discussions toward a Definitive Agreement.” Further details regarding the Proposed Acquisition will be disclosed in due course as material developments occur, in accordance with applicable...