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Newterra Resources Enters into Option Agreement to Acquire Willans Gold Property Located in the Red Lake Mining Camp of Ontario
Langley, British Columbia--(Newsfile Corp. - March 9, 2026) - Newterra Resources Inc. (CSE: NT) ("Newterra Resources" or the "Company") announces that it has en
About this update from Newterra Resources, Inc.
[{"type":"text","content":" Langley, British Columbia--(Newsfile Corp. - March 9, 2026) - Newterra Resources Inc. (CSE: NT) (\"Newterra Resources\" or the \"Company\") announces that it has entered into an option agreement to acquire a 100% interest in the Willans Gold property located within the prolific Red Lake Mining District in the Province of Ontario, Canada. The Willans Gold property is a large strategic contiguous land position exceeding 5,700 hectares within the projected eastern extension of the main Red Lake Mine trend. The property is located approximately 15km east of Evolution Mining's Red Lake Mine and approximately 10km north of Kinross's Great Bear Dixie deposit. The Willans Gold property is immediately adjacent to, and borders on three sides, Kinross's Sobel project. The highly prospective geological contact between the Balmer and Confederation Assemblages is interpreted to intersect through the Willans property. Historically, the most significant gold deposits in the Red Lake camp have been discovered within several hundred meters of this specific contact. The Willans Gold property is highly accessible, with the southern boundary located only 8km from paved highway 105 into Red Lake, and an extensive network of forest service logging roads and logging cutblocks covering much of the property. Darren Blaney, CEO commented: \"We are very pleased to have secured a second highly prospective gold property in the Red Lake Mining Camp. The combination of the Willans Gold property's close proximity to the Red Lake Mine complex, along with it being on trend and with similar underlying geology, make it a highly strategic piece of ground. We look forward to getting on the property this spring.\" Figure 1: Red Lake Gold Projects | Newterra Resources Terms of the Transaction The Company has signed a three-year option agreement (the \"Agreement\") with Gravel Ridge Resources Ltd. and a private company owned by Perry English (the \"Optionors\") pursuant to which the Company may acquire a 100% interest in the Willans Gold property. In order to fully exercise its option and acquire the Willans Gold property, over a three year period the Company will pay an aggregate of $101,050 and issue 300,000 common shares of the Company. The Optionors will retain a 1.5% net smelter returns production royalty (\"Royalty\"). The Company or its assigns will have the rig...