Carlyle Issues Quesnel Property Option Shares

Rhea-AI Summary

Carlyle Commodities Corp. (CSE: CCC, FSE: BJ4, OTC Pink: CCCFF) has issued 2,000,000 common shares at a deemed price of $0.05 per share to Divitiae Resources This issuance is part of Carlyle's recently announced option to purchase a 100% interest in the Quesnel Gold Project in central British Columbia. The project, covering 1,607.34 hectares, is located in the Cariboo Mining Division, 30 kilometers northeast of Quesnel.

The option agreement includes a 2% net smelter return royalty retained by the Optionor, with Carlyle having the right to purchase 1% of the royalty for $1,000,000. The Quesnel Gold Project is situated within the Quesnel Trough, part of the Intermountain Tectonic Belt, and is on trend with the historic 'G-South' gold resource. The issued securities are subject to a four-month and one-day hold period.

Positive

• Acquisition of 100% interest in the Quesnel Gold Project, expanding Carlyle's portfolio
• Strategic location in the Cariboo Mining Division with proximity to main highways and power lines
• Option to reduce the net smelter return royalty from 2% to 1% for $1,000,000

Negative

• Issuance of 2,000,000 new shares, potentially diluting existing shareholders
• Obligation to pay a 2% net smelter return royalty to the Optionor

Vancouver, British Columbia--(Newsfile Corp. - October 4, 2024) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTC Pink: CCCFF) ("Carlyle" or the "Company") announces that, further to its news release dated September 27, 2024, it has issued 2,000,000 common shares (each, a "Share") at a deemed price of $0.05 per Share to Divitiae Resources Ltd. (the "Optionor"), pursuant to the Company's recently announced option to purchase an undivided 100% right, title and interest in certain mining claims (the "Option") in the Quesnel Terrane in central British Columbia (the "Quesnel Gold Project"), subject to a 2% net smelter return royalty to be retained by the Optionor. Pursuant to the terms of the Option, Carlyle may, at any time, purchase 1% of the royalty on the Quesnel Gold Project from the Optionor for a cash payment in the aggregate amount of $1,000,000.

The Quesnel Gold Project is located in the Cariboo Mining Division, 30 kilometers northeast of Quesnel in Central British Columbia covering 1,607.34 hectares, proximal to main highways and power lines facilitating year-round access and workability. The Quesnel Gold Project is situated within the Quesnel Trough within a subdivision of the Intermountain Tectonic Belt, and on trend with the historic "G-South" historical gold resource.

All securities issued in connection with the Option will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45‐102 - Resale of Securities.

About Carlyle

Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining Division of B.C. and is listed on the Canadian Securities Exchange under the symbol "CCC", on the OTC Market under the ticker "CCCFF", and the Frankfurt Exchange under the ticker "BJ4".

ON BEHALF OF THE BOARD OF DIRECTORS OF

CARLYLE COMMODITIES CORP.

"Morgan Good"

Morgan Good
Chief Executive Officer

For more information regarding this news release, please contact:

Morgan Good, CEO and Director

T: 604-715-4751
E: morgan@carlylecommodities.com
W: www.carlylecommodities.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225702

FAQ

How many shares did Carlyle Commodities Corp (CCCFF) issue for the Quesnel Property Option?

Carlyle Commodities Corp issued 2,000,000 common shares at a deemed price of $0.05 per share to Divitiae Resources for the Quesnel Property Option.

What is the size and location of the Quesnel Gold Project acquired by Carlyle Commodities (CCCFF)?

The Quesnel Gold Project covers 1,607.34 hectares and is located in the Cariboo Mining Division, 30 kilometers northeast of Quesnel in Central British Columbia.

What is the royalty agreement for the Quesnel Gold Project acquired by Carlyle (CCCFF)?

The agreement includes a 2% net smelter return royalty retained by the Optionor. Carlyle has the option to purchase 1% of the royalty for $1,000,000.

What is the hold period for the securities issued by Carlyle Commodities (CCCFF) for the Quesnel Property Option?

The securities issued in connection with the Option are subject to a statutory hold period expiring four months and one day after the date of issuance.