Decade Aqcuires Property in Golden Triangle Surrounded by Reported Resources of 200 Million Gold Equivalent Ounces

Rhea-AI Summary

Decade Resources (TSXV: DEC) has entered into an option agreement to acquire the North Mitchell Property in British Columbia's Golden Triangle, located 70 km north of Stewart BC. The 963.45-hectare property is strategically positioned among several major Cu-Au deposits with a combined reported gold resource of approximately 201.67 million ounces in the surrounding area.

The property is adjacent to significant deposits including:

• KSM's Iron Cap deposit (36.1M oz Au) within 2 km
• KSM's Snowfield deposit (34.9M oz Au) within 2.9 km
• Tudor Gold's Treaty Creek deposit (27.87M oz Au) within 5 km
• Newmont's Brucejack & Valley of Kings deposits (14.5M+ oz Au) within 6.4 km

Decade can earn a 70% interest in the property through a series of option payments. The agreement includes a 1% NSR royalty, with an option to purchase half of it for $3 million.

Positive

• Strategic location surrounded by major gold deposits totaling 201.67M oz Au
• Property situated within 2-6.4 km of multiple world-class deposits
• Option to acquire majority 70% interest in the property
• Located in proven Golden Triangle mining district
• Recent nearby high-grade drill results from Tudor (102.15m of 1.28 g/t AuEQ)

Negative

• No guarantee of similar mineralization to surrounding deposits
• Requires multiple option payments to acquire interest
• Early-stage property with no proven resources
• Subject to TSX-V approval

Stewart, British Columbia--(Newsfile Corp. - March 27, 2025) - Decade Resources Ltd (TSXV: DEC) ("Decade") reports that it entered into an option agreement to acquire the North Mitchell Property located 70 km north of Stewart BC. The North Mitchell Property is situated amongst several of the world's most significant Cu-Au deposits within the "Golden Triangle" of northwestern British Columbia. The property consists of 963.45 ha (9.63 square km) surrounded by Cu-Au deposits on three sides.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3615/246297_667b0b85244589af_001full.jpg

The map shows the location of the North Mitchell Property relative to mineral deposits in the claim area. The combined number of ounces of reported gold within 8 deposits situated in 3 directions around the North Mitchell Property (measured, indicated + inferred) is estimated at 201.67 million oz+/- as follows:

1. KSM's Iron Cap deposit is located within 2 km, with a combined resource of 36.1 million oz Au
2. KSM's Snowfield deposit is located within 2.9 km, with a combined resource 34.9 million oz Au
3. KSM's Kerr, Sulphurets, Mitchell deposits, total a combined 88.3 million oz Au, located 8.8 km, 5.5 km & 3.6 km from North Mitchel respectively
4. Tudor Gold's Treaty Creek deposit is within 5 km, with a combined 27.87 million oz Au
5. Newmont's Brucejack & Valley of Kings deposits are within 6.4 km, with a combined 14.5 million+ oz Au (one of the highest grade gold mines in the world

These estimates do not include the hundreds of millions of reported ounces of silver and billions of pounds of copper included within these deposits.

Disclaimer: The above information has been obtained from available public sources and is being used for reference purposes only. There is no guarantee that the North Mitchell property hosts any mineralization similar to the above deposits.

Decade has the right to earn a 70% undivided interest in the property by making the following payments to the Optionor (collectively, the "Option Payments"), as follows:

Date Of Option Payment	Shares Issued Optionee	Ownership Optionor
Upon Effective Date On or before 1st anniversary of	2,937,713	1.98%
Effective date On or before 2nd anniversary of	2,937,713	3.996%
Effective date On or before 3rd anniversary of	2,937,713	5.994%
Effective date On or before 4th anniversary of	2,937,713	7.992%
Effective date	2,937,713	9.990%

 

Upon the completion of all the above share payments Decade and Optionor will enter into an agreement granting a 1% net smelter returns royalty (the "NSR") in favour of the Optionor. Half of the Optionor's interest in the New NSR (being a 0.5% net smelter returns royalty) may be purchased by Decade upon payment of $3,000,000 within 12 months before the date any commercial production commences on the property. Shares issued pursuant to this agreement will be subject to a four (4) month and one (1) day resale restriction from the date of issuance of the applicable Optionee Shares pursuant to National Instrument 45-102 - Resale of Securities. Decade has the right to purchase the 30% Interest from the Optionor at a price equal 2/3 of the value of the 30% Interest based upon a 5% discounted net present value report based upon proven and probable ore reserves as defined by a feasibility report.

The agreement is subject to TSX-V approval.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3615/246297_667b0b85244589af_002full.jpg

Of particular interest is Tudor drill hole PS-23-10 drilled towards the property as seen in the map above. This is the description of the drill-hole copied from a October 31st, 2023 News Release: "PS-23-10: Drilled at a relatively shallow dip to the south to explore for extension of the mineralized zone encountered in drill hole PS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu), and 25.5 m of 1.60 g/t AuEQ (1.58 g/t Au, 1.81 g/t Ag, 0.01 % Cu). Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date and they are located between the Goldstorm Deposit, 3 km to the northeast, and Seabridge Gold's Iron-Cap Deposit, 2.5 km to the southwest."

Ed. Kruchkowski, President states: "Having worked in this area during the 1970' and 1980's I feel that this a wonderful opportunity for the Company base on my knowledge of the property. The North Mitchell Property contains the rocks and geology necessary to host porphyry copper-gold and epithermal gold mineralization. The property is located in within the Stikine Terrane, the locale for large Cu-Au deposits. The property is underlain by similar lithologic units hosting these deposits and the Company believes that it is one of the most exciting mineral properties available in British Columbia."

Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Company and is responsible for and approves the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.

Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca. For investor information please call 250- 636-2264 or Gary Assaly at 604-377-7969.

ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.

"Ed Kruchkowski"

Ed Kruchkowski, President

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

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246297

FAQ

What is the total gold resource surrounding Decade Resources' (DECXF) North Mitchell Property?

The North Mitchell Property is surrounded by deposits containing approximately 201.67 million ounces of reported gold resources in the Golden Triangle region.

How close is DECXF's North Mitchell Property to KSM's Iron Cap deposit?

The Iron Cap deposit, containing 36.1 million oz Au, is located within 2 kilometers of the North Mitchell Property.

What percentage interest can Decade Resources acquire in the North Mitchell Property?

Decade Resources can earn a 70% undivided interest in the property through a series of option payments.

What is the size of DECXF's newly acquired North Mitchell Property?

The North Mitchell Property consists of 963.45 hectares (9.63 square kilometers) in British Columbia's Golden Triangle.

What are the NSR royalty terms for DECXF's North Mitchell Property acquisition?

The agreement includes a 1% NSR royalty, with Decade having the option to purchase half (0.5%) for $3 million before commercial production.