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Loyalist Exploration Acquires Tully Property, Boosting Timmins Gold Portfolio and Announces Closing of $653,000 First Tranche of Non-Brokered Financing
Toronto, Ontario – TheNewswire – October 3, 2025 – Loyalist Exploration Limited (CSE: PNGC) (“Loyalist” or the “Company”) is pleased to announce the successful
About this update from Loyalist Exploration Limited
[{"type":"text","content":"Toronto, Ontario – TheNewswire – October 3, 2025 – Loyalist Exploration Limited (CSE: PNGC) (“Loyalist” or the “Company”) is pleased to announce the successful completion of the acquisition (the “Acquisition”) of the Tully property (the “Tully Property”) from Fulcrum Metals plc (LON: FMET) (the “Vendor”). The Tully Property is located approximately 25 kilometres (“km”) northwest of Timmins, Ontario. The Acquisition consideration included a cash payment of $500,000 and the issuance of 78,700,000 common shares of Loyalist (“Loyalist Shares”), with Fulcrum retaining a 2.0% Net Smelter Royalty (“NSR”), providing Loyalist with an option to buy-back one-half of the NSR for $1 million. The Company shall also issue to the Vendor 272,740 Loyalist Shares upon the completion of the Second Tranche of the Offering (as defined below). In addition, Loyalist shall pay to the Vendor the additional future consideration as described in its press release of July 8, 2025. The Acquisition was first announced on April 9, 2025. Errol Farr, CEO of Loyalist stated “I am very proud of the support I have received from everyone involved in the Tully Acquisition and this financing, especially Michael White of IBK Capital Inc. who has been with me all the way and the team at Fulcrum who have demonstrated the confidence in Loyalist to execute on a near term production strategy. Tully, along with our Gold Rush and Loveland properties, are transformative for Loyalist, underscoring our ‘Buy Timmins’ strategy and positioning Loyalist as a leading mineral exploration and development company in the Timmins region. I look forward to a very exciting fall and 2026.” Ryan Mee, CEO of Fulcrum commented “We are pleased to complete the Tully transaction and to support Loyalist Exploration in advancing their exploration portfolio going forward as we execute on our strategy as a technology-led company focused on recovering precious and critical metals from mine waste tailings in Kirkland Lake. Tully is a highly prospective gold project, and we are confident that Loyalist’s strong technical team will take Tully to a higher level. This belief is reflected in our decision to take a significant equity position in Loyalist and retain exposure to Tully through a royalty.” Closing of Financing Loyalist has also completed the sale of 32,650,000 units of the Company (“Units”) fo...