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TRU Precious Metals Corp (TSXV:TRU)(OTCQB:TRUIF) is focused on building long-term shareholder value through natural resource property development and transactions. The company explores for gold and copper in the Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project. With an option to acquire up to a 65% ownership interest in two claim packages, TRU has made high-grade discoveries in gold and copper. Recent trenching and channel sampling results have expanded the known mineralization at the Project, showcasing its significant potential.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has provided an update on its flagship Golden Rose Project in Central Newfoundland. In August 2024, the company granted an exclusive option to Eldorado Gold to earn an 80% ownership interest in Golden Rose. This financial backing allows TRU to conduct a detailed review of the project's potential across its 300 sq. km area.
The company is shifting to a 'big picture' perspective, viewing the consolidated land parcels as one entity to develop an updated model of mineralization potential. The initial step involves extracting maximum information from existing data, including infill and geochemical sampling, reinterpretation of magnetic survey data, prospecting, re-mapping, and re-examination of drill core.
TRU is focusing on a 7.5km long by 2km wide 'exploration fairway' between the Mark's Pond zone and the Rich House zone. Initial targeting is expected to be completed by early 2025, with drilling planned to commence immediately after. The company is also running a copper and critical minerals focused exploration program across Golden Rose.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has completed the granting of an option to Eldorado Gold for its Golden Rose Project in Central Newfoundland. This follows the receipt of an outstanding drill permit, satisfying all pre-conditions of the definitive earn-in agreement. The option allows Eldorado to earn an 80% ownership interest in the strategically located Golden Rose Project along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone.
TRU CEO Steve Nicol expressed enthusiasm about the partnership with Eldorado, a global gold producer, and the potential to drive exploration efforts forward. The full details of the Option Agreement will be available on TRU's SEDAR+ profile.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has terminated its normal course issuer bid (NCIB) effective immediately. The NCIB, announced on December 7, 2023, aimed to purchase and cancel up to 9,668,743 common shares, representing 10% of the company's outstanding Public Float. As of August 12, 2024, 4,934,000 shares (approximately 3% of outstanding shares) were repurchased at an average price of $0.029, totaling about $143,086. The NCIB was subject to a maximum aggregate purchase price of $150,000 plus brokerage commissions, with a maximum price per share of $0.04. All repurchased shares will be cancelled.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has appointed Steve Nicol as its new CEO, effective August 7, 2024. Nicol, a mining engineer with over 35 years of experience, will oversee the multi-year, partner-funded gold and copper exploration program at the Golden Rose Project in Newfoundland, following the recently announced earn-in agreement with Eldorado Gold
Nicol replaces Joel Freudman, who founded TRU in its current form in 2020. Freudman will continue to provide transitional capital markets advisory support. This leadership change comes as TRU embarks on a new phase of development as a Newfoundland mineral resources explorer, with the company positioned for significant value creation through its partnership with Eldorado.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has secured both shareholder and TSX Venture Exchange approval for its definitive earn-in agreement with Eldorado Gold . This Option Agreement grants Eldorado the exclusive right to earn an 80% ownership interest in TRU's Golden Rose Project in Central Newfoundland. The project is strategically positioned along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone.
The closing of the agreement now hinges on TRU receiving a drilling permit for Golden Rose from the Mineral Lands Division of the Newfoundland government. This permit is anticipated to be issued in August. Full details of the Option Agreement are available in TRU's July 30, 2024 news release and will be filed on SEDAR+.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has signed a definitive earn-in agreement with Eldorado Gold , granting Eldorado the option to acquire an 80% ownership interest in TRU's Golden Rose Project in Central Newfoundland. To exercise the option, Eldorado must make cash payments totaling C$8,250,000 and incur exploration expenditures of C$7,000,000 over a five-year period. TRU will initially act as the project operator, with a technical committee overseeing operations. The agreement includes provisions for a potential joint venture and a mechanism for TRU to retain rights to certain critical mineral discoveries. The deal is subject to TSXV approval, shareholder consent, and required permits. TRU also reported shareholder approval of all items at its recent Annual & Special meeting.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has engaged Global One Media for digital marketing services. Global One Media, a full-service investor-focused digital marketing agency, will assist TRU with digital and social media influencer marketing efforts. The engagement is immediate and for a 1-month term at a cost of USD$35,000, payable from TRU's working capital. Additional services may be added for extra cost. Global One Media will not receive shares or options as compensation. The engagement is subject to TSX Venture Exchange approval.
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has commenced its copper-focused exploration program at the Golden Rose Project in Western-Central Newfoundland. The program aims to develop a deeper understanding of the critical minerals potential associated with the Cape Ray - Valentine Lake Shear Zone. While emphasizing copper exploration, the program will also investigate nickel and zinc occurrences.
The exploration work includes prospecting, grab sampling, soil sampling, and trenching over interpreted critical minerals anomalies. Target areas include Jacob's Pond (up to 3.42% Cu), Jacob's Twin (up to 11.0% Cu), Jacob's West, Glenn's Prospect, King George IV, and Bear Pond. The company's objective is to identify potential critical minerals drill targets, which could supplement their planned gold-oriented drill program.
TRU Precious Metals Corp. (TSXV: TRU, OTCQB: TRUIF) has relisted its common stock on the OTCQB Venture Market in the United States under the symbol 'TRUIF'.
The OTCQB platform, run by OTC Markets Group, is known for its standards of transparency and regulation, providing an improved trading experience for U.S. investors.
According to TRU's CEO Joel Freudman, this relisting is a strategic move to tap into the U.S. capital markets, where there is growing interest in copper and gold due to their rising prices.
The company's shares remain eligible for electronic clearing and settlement in the U.S. and will continue trading on Canada's TSX Venture Exchange under the symbol 'TRU'.
Freudman emphasized that the relisting supports TRU's ongoing exploration efforts on its flagship Golden Rose Project in Newfoundland.
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