The Conversation (0)
American Gold & Copper Inc. (OTC: AGCI) (the "Company" or "AGCI") announced that it has signed a non-binding Letter of Intent (the "LOI") with Homeland Nickel Inc. (TSX-V: SHL) ("Homeland") for the proposed acquisition of Homeland's Shamrock Nickel-Copper Project ("Shamrock") located in Jackson County, southern Oregon.
The LOI contemplates an asset acquisition pursuant to which American Gold & Copper would acquire Homeland's interest in Shamrock following a 60-day due diligence period. Under the proposed terms, following satisfactory completion of due diligence, American Gold & Copper would make a cash payment of US$150,000 for the property and an additional payment of US$8,500 to cover mining claim renewal costs in September 2026.
"Shamrock is an excellent nickel sulphide project with significant copper and precious metals," said Steve Balch, President and Chief Executive Officer of Homeland Nickel. "But Homeland has its hands full with nine nickel laterite properties in Oregon, and we have visited the property only once since acquiring it."
Richard Hawkins, Chief Executive Officer of American Gold & Copper, added, "Shamrock represents an opportunity to add a U.S.-based nickel-copper project to our growing mineral asset portfolio at what we believe is a very reasonable acquisition cost. The historical work completed on the property gives our technical team a meaningful body of information to evaluate during due diligence, and we look forward to working with Steve and the Homeland team as we move through that process."
About the Shamrock Nickel-Copper Project
The Shamrock Nickel-Copper Project contains nickel, copper and platinum group elements in sulphide mineralization and is located in Jackson County, southern Oregon, approximately 20 miles northwest of Medford.
Project highlights, based on information provided by Homeland, include:
- 40 unpatented lode mining claims covering approximately 758 acres
- Location within a historically recognized mining region of southern Oregon
- Road access extending from a paved highway to within a short distance of the historical workings
- A history of exploration activity dating to the early 1900s, including underground development and diamond drilling conducted by the U.S. Bureau of Mines during 1949–1950
- A historical 200-pound composite sample reported by Homeland to have assayed 1.1% copper, 1.3% nickel and 0.03 oz/t platinum
- Technical information, exploration records and project data expected to be transferred together with the claims upon completion of the proposed acquisition
Due Diligence and Closing Conditions
The LOI provides American Gold & Copper with a 60-day due diligence period during which the Company and its representatives may conduct legal, title, technical, geological, environmental, financial, tax, operational and other reviews relating to the assets. An independent qualified professional selected by the Company is expected to examine the claims, chain of title, legal descriptions, filings, maintenance status and related records.
The claims must be valid, properly recorded, maintained and in good standing at the time of execution of the definitive agreement and at closing, unless an applicable condition is expressly waived by American Gold & Copper.
Completion of the proposed transaction remains subject to satisfactory due diligence, verification of the claims and their standing, negotiation and execution of mutually acceptable definitive agreements, receipt of required approvals and consents, which may include acceptance by the TSX Venture Exchange in respect of Homeland, the absence of a material adverse change, and delivery of customary transfer and closing documents. The parties currently anticipate closing on or before October 11, 2026, unless otherwise agreed in writing.
Corporate Development Update
American Gold & Copper has engaged Victor Mokuolu, CPA PLLC, a Houston, Texas-based PCAOB-registered public accounting firm, to conduct the Company's two-year audit as part of its ongoing financial reporting and capital markets initiatives.
The Company has also engaged Glendale Securities, Inc. to serve as its sponsoring broker in connection with the preparation and submission of a Rule 15c2-11 application with FINRA.
About Homeland Nickel Inc.
Homeland Nickel is a Canadian-based mineral exploration company focused on critical metal resources with nine nickel projects in Oregon, United States, including two with historical resources. Homeland Nickel's common shares trade on the TSX Venture Exchange under the symbol "SHL." Additional information is available through Homeland Nickel's corporate website.
About American Gold & Copper Inc.
American Gold & Copper Inc. (OTC: AGCI) is a U.S. mineral exploration and development company focused on the acquisition, exploration, evaluation, development, and advancement of copper, gold, silver, and other mineral resource opportunities. The Company's initial operating focus is the continued technical evaluation and advancement of the AscensiĂ³n de Guarayos copper-gold-silver project in eastern Bolivia through its wholly owned subsidiaries American Copper & Gold Inc., South American Copper Ltd., and Minerasac SA S.R.L. The Company has also entered into a memorandum of understanding relating to the proposed acquisition of the Rimrock copper-gold project in Lander County, Nevada. Through disciplined acquisitions, technical evaluation, and responsible resource development, the Company is building a portfolio of mineral projects located in established mining jurisdictions with the objective of creating long-term shareholder value.
For additional background, South American Copper's January 2026 Corporate Business Summary provided by the company, can be viewed here: South American Copper Business Summary
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's strategic plans for the continued evaluation and advancement of its Bolivian mining assets; the proposed acquisition and potential advancement of the Rimrock copper-gold project; the proposed acquisition and potential advancement of the Shamrock nickel-copper project; anticipated additional technical review, exploration planning, development initiatives, financing activities, potential exchange listings, management expansion, and other statements that are not historical facts. Forward-looking statements are generally identified by words such as "expects," "intends," "plans," "anticipates," "believes," "potential," "may," "could," "will," and similar expressions.
These statements are subject to risks and uncertainties that could cause actual results to differ materially, including risks relating to capital availability, regulatory approvals, technical evaluation outcomes, commodity price volatility, political and operational risks in Bolivia, environmental and permitting matters, risks inherent in mineral exploration and development, the possibility that the proposed Rimrock or Shamrock acquisitions may not be completed, and other risks associated with development-stage public companies.
Certain technical and project information referenced in this release is derived from historical technical reports and supplementary technical materials. Such information has not been updated into a current technical report and should not be relied upon as a current compliant mineral resource or reserve estimate.
Readers should not place undue reliance on forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update such statements except as required by law. This release does not constitute an offer to sell or solicitation of an offer to buy any securities.
Investor Relations Contact:
American Gold & Copper Inc.
Email: info@americangoldandcopper.com
Web: https://americangoldandcopper.com
