London
13 °C
Manchester
Glasgow
15 °C
Dublin
Belfast
12 °C
Washington
15 °C
Denver
Atlanta
Dallas
Houston Texas
New Orleans
26 °C
El Paso
Phoenix
Los Angeles
18 °C
24 °C
15 °C
20 °C
37 °C
TRU Options out Twilite Gold Project to Copperhead Resources Inc.
NYSE - LSE
TRU Options out Twilite Gold Project to Copperhead Resources Inc.
TORONTO, ON / ACCESS Newswire / August 19, 2025 / TRU Precious Metals Corp. (TSXV:TRU)(FSE:706) ("TRU" or the "Company") is pleased to announce that it has entered into an option agreement (the "Agreement") with Copperhead Resources Inc. ("Copperhead"), pursuant to which the Company has granted the exclusive option to earn a 100% ownership interest in the Company's Twilite Gold Project ("Twilite" or "Property") which consists of 65 claims covering 1,625 hectares located in the Central Newfoundland Gold Belt.
Terms of the Agreement
In order to exercise its option to acquire a 100% interest in Twilite, Copperhead must make cash payments and exploration expenditures, and must issue common shares of Copperhead ("Shares") as set out below:
pay $25,000 in cash to TRU on August 18, 2025 (paid);
on or before August 18, 2027, incur exploration expenditures of an aggregate of $75,000 plus applicable taxes on the Property; and
on or before August 18, 2027: (i) pay additional $200,000 in cash to TRU; and (ii) issue such number of Shares of Copperhead to TRU as is equal in value to $300,000, at a deemed price per Share equal to the closing price of the Shares of Copperhead on the Canadian Securities Exchange on the day immediately prior to the Share issuance.
Upon exercise of the option, Copperhead will grant TRU a 2.0% net smelter returns ("NSR") royalty from any future mineral production at Twilite.
Throughout the terms of the Agreement, Copperhead shall have overall responsibility for the operations on the Property. All work on the Property in connection with the exploration expenditures shall be carried out by TRU at Copperhead's direction and at market rates.
TRU CEO Steve Nicol stated: "We are pleased to be entering into this option agreement on the Twilite Project with Copperhead, which we see as continuing our stated aim of remaining focused upon efficiently discovering the full gold and copper potential of our flagship Golden Rose Project. Monetizing an asset which is not currently the focus of exploration activities by the Company, strengthens the Company's financial position whilst still enabling the Twilite Project to be advanced.
About TRU Precious Metals Corp.
TRU (TSXV:TRU, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development. The company's flagship project is the Golden Rose Project a regional-scale 297.50 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has a 51% interest) which straddles a 45 km strike length along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Equinox Gold Corp's Valentine Project and AuMEGA Metals Ltd' Cape Ray Gold Project. TRU is currently focused on efficiently discovering the full gold and copper potential at Golden Rose, targeting continuity along this proven gold bearing trend. The Golden Rose Project is currently subject to an Earn-In Agreement with TSX-listed Eldorado Gold Corporation ("Eldorado"), whereby Eldorado has the option to fund CAD15.25M in cash payments and exploration expenditures over 5 years to earn an 80%-interest in the Golden Rose project. Please refer to our July 30th, 2024 press release for further details of the agreement.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
For further information about TRU, please contact:
Steve NICOL
CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
To connect with TRU via social media, below are links:
X (formerly Twitter): https://x.com/metalstru
YouTube: https://www.youtube.com/@TruMetalsCorp
LinkedIn: https://www.linkedin.com/company/tru-precious-metals-corp/
Instagram: https://www.instagram.com/TRUMetals/
Facebook: https://www.facebook.com/TRUMetals/
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to completing the transactions contemplated by the Option Agreement and exploration potential of the Twilite Project. These statements are based on numerous assumptions regarding the Option Agreement and future corporate plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the Option may never be exercised by Copperhead as proposed or at all; the exploration potential of the Twilite Project; risks inherent in mineral exploration activities; regulatory approval processes; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: TRU Precious Metals Corp.
View the original press release on ACCESS Newswire
J.Hall--SMC
