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Q-Gold Signs Definitive Agreement for the Acquisition of the Quartz Mountain Advanced Gold Project in Oregon, U.S. with Resource
Highlights : Gold has been designated as a strategic mineral in the United States b...
About this update from Q-gold Resources Ltd
[{"type":"text","content":"Q-Gold Signs Definitive Agreement for the Acquisition of the Quartz Mountain Advanced Gold Project in Oregon, U.S. with Resource\n\n\n\n\n Highlights\n \n\n :\n \n\n\n\n\n Gold has been designated as a strategic mineral in the United States by President Trump\n \n\n\n\n Previous operators have invested over $20M in the project with over 100,000 metres of historical drilling\n \n\n\n\n Project compliments the Mine Centre historical Foley Mine in Northern Ontario where approvals are being sought to re-drill for possible reactivation\n \n\n\n\n Project consists of 244 mineral claims across ~2,000 hectares (“ha”)\n \n\n\n\n ~100,000 metres of historical drilling, including over 7,000 metres by Alamos in 2014-2015\n \n\n\n\n 0.34Moz in NI 43-101 compliant measured and indicated (“M&I”) mineral resources and 1.15Moz in inferred mineral resources (all on Quartz Mountain, part of the property, ~45% in oxide and transition ore) (see Table 1 below)\n \n\n\n\n Surface managed by United States Forest Service, and mineral rights managed by the United States Bureau of Land Management\n \n\n\n\n\n TORONTO, April 03, 2025 (GLOBE NEWSWIRE) --\n \n\n Q-Gold Resources Ltd (TSXV: QGR, OTC: QGLDF) (“\n \n Q-Gold\n \n ” or the “\n \n Company\n \n ”) is pleased to announce that the Company has entered into a share exchange agreement dated March 31, 2025 (the “\n \n Agreement\n \n ”) with 0975828 B.C. Ltd. (the “\n \n Target\n \n ”) and its sole shareholder, Alamos Gold Inc. (“\n \n Alamos\n \n ”, or the “\n \n Shareholder\n \n ”), pursuant to which Q-Gold intends to indirectly acquire a later stage mineral exploration project located in south-central Oregon (the “\n \n Quartz Mountain Project\n \n ”) through the purchase of all of the issued and outstanding shares of the Target from the Shareholder (the “\n \n Acquisition\n \n ”). The property consists of 244 claims with approximately 2,000 ha, of which Quartz Mountain is on 86 unpatented LODE mining claims covering 704 ha, and Angel’s Camp is on 158 unpatented LODE mining claims covering 1,248 ha in south-central Oregon (collectively, the “\n \n Assets\n \n ”). The Target’s indirect wholly owned subsidiary, Quartz Mountain Gold Ltd...