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Loyalist Exploration Announces Amendment to Gold Rush Option Agreement to Accelerate the Earning of a 100% Interest
Toronto, Ontario – TheNewswire – April 9, 2026 – Loyalist Exploration Limited (CSE: PNGC) (“Loyalist” or the “Company”) is pleased to announce that has entered
About this update from Loyalist Exploration Limited
[{"type":"text","content":"Toronto, Ontario – TheNewswire – April 9, 2026 – Loyalist Exploration Limited (CSE: PNGC) (“Loyalist” or the “Company”) is pleased to announce that has entered into an amendment (the “Amendment”) to the option agreement dated March 31, 2025 (the “Option Agreement”), as amended by the amendment agreement dated October 9, 2025, pursuant to which the Company has been granted an accelerated option (the “ Accelerated Option”) to acquire a 100% interest in the Gold Rush property within the next 60 days, (the “Gold Rush Property” or the “Property”), located approximately 30 kilometres (“km”) west of Timmins, Ontario from a prospector (the “Optionor”). The Property is composed of 41 contiguous mineral claims and is located within the “Timmins Gold Camp”. The Option Agreement - Amendment Pursuant to the Amendment, the Accelerated Option may be exercised by paying (in addition to the payments already made under the Option) to the Optionor (i) cash in the amount of $10,000, within five business days of the date of execution; (ii) cash in the amount of $20,000 payable within sixty calendar days of the date of execution; and (iii) the issuance of 4,000,000 common shares in the capital of the Company (“Shares”). As of the date hereof, the Company has paid to the Optionor 4,000,000 Shares and $20,000 in connection with the Option. Completion of the Amendment and the issuance of the Shares to the Optionor is subject to the receipt of all necessary regulatory approvals including the approval of the Canadian Securities Exchange. All shares issuable pursuant to the Amendment are subject to a hold period of four months from the date of issuance. All other terms of the Option Agreement remain the same; please see the Company’s press release dated March 31, 2025. Errol Farr states “I am very pleased to be working with Robert Laviolette (the Optionor) on the Gold Rush property. This accelerated purchase brings all four of our properties, Tully, DeSantis, Loveland and now Gold Rush to a 100% ownership position. I believe Robert is showing significant confidence in Loyalists’ approach to exploring and developing our properties. As we say “Buy Timmins, Mine Timmins.” Robert Laviolette commented “I’d like to thank Errol and the team behind him who have been working on building up Loyalist with a great portfolio of projects in the Timmins Gold Camp.” About...