Great Eagle Gold Corp. Announces LOI to Acquire Patented Mineral Rights Titles Containing NI 43-101 Certified Gold Resources

Rhea-AI Summary

Great Eagle Gold Corp. (GEGC) has signed a Letter of Intent to acquire a 100% interest in 3 patented mining claims containing 240,100 ounces of NI 43-101 certified inferred gold resources from New Path Resources Inc. The claims are part of the Northshore Gold Property in Ontario. The acquisition cost is set at CDN$1,000,000, with an initial option payment of CDN$100,000 and the remaining balance due within one year.

Upon tokenization by NatGold Digital, the deposit would yield 48,020 NatGold Tokens, of which Great Eagle would receive 40,817 tokens (85%). This acquisition supports Great Eagle's exclusive partnership with NatGold to provide resources for generating the first 2.5 million NatGold Tokens. The purchase price may be adjusted based on gold price fluctuations during the option period.

Positive

• Acquisition of 240,100 ounces of NI 43-101 certified gold resources
• Exclusive partnership rights to supply resources for 2.5 million NatGold Tokens
• Structured payment terms with only 10% initial option payment required
• Potential to receive 40,817 NatGold Tokens (85% of minted tokens)

Negative

• Purchase price may increase if gold prices rise during the option period
• Transaction completion subject to CSE approval and closing conditions
• Significant remaining payment of CDN$900,000 required within one year

Burnaby, British Columbia--(Newsfile Corp. - January 27, 2025) - Great Eagle Gold Corp. (CSE: GEGC) (OTC Pink: GEGCF) (FSE: GI8) ("Great Eagle" or the "Company") is pleased to announce that it has signed a Letter of Intent (LOI) with New Path Resources Inc. (the "Vendor") to acquire a 100% interest in a mining claims package that includes 3 patented claims containing NI 43-101 certified inferred gold resources (the "Tokenization Qualifying Titles"). The Tokenization Qualifying Titles meet the perpetual ownership and zero ongoing carrying cost requirements necessary for tokenization into NatGold Tokens under NatGold Digital Ltd.'s ("NatGold") patent-pending digital gold mining model.

The Tokenization Qualifying Titles contain a total of 240,100 ounces of NI 43-101 certified inferred gold resources. Under the NatGold digital mining model, one ounce of inferred gold resources converts into 0.20 (or 20%) of a NatGold Token. Upon tokenization by NatGold, this deposit would yield 48,020 NatGold Tokens. Of that total, Great Eagle would receive 40,817 NatGold Tokens-85% of the minted tokens-after accounting for NatGold's 10% tokenization fee and a 5% allocation to the NatGold Contingency Fund.

Andrew Fletcher, CEO of Great Eagle, commented: "Having recently secured a supply partnership agreement with NatGold Digital that guarantees Great Eagle the right to exclusively provide sufficient NI 43-101 certified gold resources to generate the first 2.5 million NatGold Tokens, this LOI represents a significant milestone. It positions us as a key player in preparing for the imminent launch of NatGold's revolutionary, patent-pending digital gold mining ecosystem."

Fletcher added: "Our data analytics team at Great Eagle has done an exceptional job identifying hundreds of Tokenization Qualifying Titles worldwide, with a strong focus on the United States and Canada. By signing this initial acquisition, we've taken the first step toward building a low-cost portfolio of optioned, tokenization-ready certified gold resources. We continue to evaluate additional acquisitions and are excited about quickly meeting-and ideally exceeding-our goal of supplying NatGold with sufficient resources to generate at least 2.5 million tokens."

Mineral Rights Location

All 240,100 ounces of NI 43-101 certified inferred gold resources are situated on 3 patented mineral rights claims that make up the Tokenization Qualifying Titles are part of a larger claims package collectively known as the "Northshore Gold Property."

Located within Priske Township, approximately 4 km south of the town of Schreiber, Ontario, on the northern shore of Lake Superior, the Northshore Gold Property includes 3 patented claims and 38 unpatented claims covering a total area of approximately 940 hectares.

A copy of the NI 43-101 technical report will be filed on SEDAR+ and available on Great Eagle's website upon execution of the Definitive Agreement.

Acquisition & Financial Terms

Great Eagle has agreed to acquire the Tokenization Qualifying Titles for a total cost of CDN$1,000,000 (the "Purchase Price"). As part of the agreement, Great Eagle will pay a total option payment (the "Option Amount") of CDN$100,000, which represents 10% of the total Purchase Price.

After the Option Amount is paid, Great Eagle has the right to complete the acquisition at any time within one year from the signing date of the Definitive Agreement by paying the remaining balance of the Purchase price (CDN$900,000).

It is important to note that the final Purchase Price may be adjusted based on fluctuations in the price of gold. If the price of gold increases from the time the Definitive Agreement is signed to the time Great Eagle exercises its option, the total Purchase Price will rise by the same percentage. For example, if the price of gold increases by 20% during that period, the final Purchase Price will also increase by 20% to CDN$1,200,000.

The payment terms are as follows:

Great Eagle paying to the Vendor a CDN$10,000 deposit of the Option Amount within two business days of the execution of the Letter of Intent. Great Eagle is pleased to announce that this payment was subsequently made.

Great Eagle paying to the Vendor the balance of the Option Amount (CDN$90,000) subject to the completion of satisfactory due diligence and the mutual execution of a Definitive Agreement on or before January 31, 2025. Great Eagle is pleased to announce it has successfully completed its due diligence site visit-a process that was conducted by Larry Segerstrom, a member of Great Eagle's Board of Directors and a Qualified Person authorized to prepare and certify NI 43-101 gold resource reports-and that Great Eagle's legal team is now diligently working to complete the Definitive Agreement by the scheduled date, at which time Great Eagle fully intends to make the remaining Option Amount (CDN$90,000).

It is important to note that completion of the transaction is subject to a number of closing conditions customary to transactions of the nature of the transaction and subject to CSE approval. There can be no assurance that the transaction will be completed as proposed or at all.

About Great Eagle Gold

Great Eagle Gold Corp. (CSE: GEGC) (OTC Pink: GEGCF) (FSE: GI8) is a publicly traded Canadian company, also listed in the United States and Germany, leading a groundbreaking evolution in digital mining. This new approach reshapes how the global gold mining industry realizes gold's intrinsic value. Partnering with New York-based NatGold Digital Ltd., Great Eagle leverages a blockchain-powered, ESG-friendly digital mining process. This method provides a regulatory-compliant way to invest in gold while eliminating the considerable environmental, social, and financial costs of traditional gold mining.

Great Eagle's unique strategy focuses on the supply side of the NatGold ecosystem. By acquiring NI 43-101 certified gold resources and seamlessly integrating them through a title swap process that meets NatGold Digital Ltd.'s exacting token integrity standards, Great Eagle establishes itself as a pivotal contributor. Together, Great Eagle and NatGold Digital operate at the convergence of three compelling global investment themes: gold, ESG investing, and the tokenization of real-world assets.

For more information, visit www.greateaglegold.com.

On behalf of the board,

Andrew Fletcher, CEO & Director
Great Eagle Gold Corp.
+1 (778) 372-9723

Neither the Canadian Securities Exchange (the "CSE") nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to statements with respect to Great Eagle's proposed Financing, operations, the LOI with New Path Resources, and the acquisition of NI 43-101 certified gold resources, the ability to digitally mine NatGold coins, the viability of the NatGold tokenization and monetization ecosystem, and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward looking statements with respect to Great Eagle's proposed operations, acquiring and developing certified gold resources and their tokenization, and the receipt of required approvals. Generally, forward-looking statements can be identified by the forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Great Eagle to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Great Eagle's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Great Eagle's required securities filings on SEDAR+. Although Great Eagle has attempted to identify important factors that could cause results to differ materially from those contained in forward- looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238402

FAQ

What is the total gold resource Great Eagle Gold (GEGC) is acquiring in the Northshore Gold Property?

Great Eagle Gold is acquiring 240,100 ounces of NI 43-101 certified inferred gold resources through 3 patented mining claims.

How much will GEGC pay for the Northshore Gold Property acquisition?

The total acquisition cost is CDN$1,000,000, with an initial option payment of CDN$100,000 and the remaining CDN$900,000 due within one year.

How many NatGold Tokens will GEGC receive from this acquisition?

Great Eagle will receive 40,817 NatGold Tokens, representing 85% of the 48,020 total tokens to be minted from the gold resources.

What is the location of GEGC's newly acquired gold property?

The property is located in Priske Township, approximately 4 km south of Schreiber, Ontario, on Lake Superior's northern shore.

When is GEGC expected to complete the Northshore Gold Property acquisition?

The Definitive Agreement is scheduled to be completed by January 31, 2025, with the remaining option amount of CDN$90,000 to be paid upon execution.