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January 29, 2026 TheNewswire - Bathurst Metals Corp. ("Bathurst" or the "Company") reported on January 22, 2026 it had entered into an option agreement to acquire a 100% interest in two mineral claims located north of the Company's 100%-owned Turner LakeTED Gold Project in the Bathurst Inlet area of Nunavut, Canada. The claims are known as the Gladstone Gold and Northern Gold properties.
The Company announces an amendment to the terms of the Mineral Option Agreement. Under the amended terms, the Company will purchase the claims outright for consideration of $8,000.00 cash and the issuance to the vendors an aggregate of 4,000,000 common shares and 4,000,000 transferable share purchase warrants. Each share purchase warrant will entitle the holder to acquire an additional common share of the Company for $0.08 for a period of three years from the date of TSXV acceptance of the transaction. The transaction is at arm's length to the Company and no finders fees are payable.
The Vendors will retain a 2.0% net smelter return royalty in respect of any minerals from the properties.
Gladstone Gold Property
The Gladstone Gold Property covers 1,197.371 hectares and hosts three known gold showings, with reported gold values ranging from 2.12 to 143.76 g/t Au. Associated geochemical values include arsenic ranging from 0.64% to 2.2%, lead up to 1.04%, and zinc up to 0.31%.
Bathurst has also recently staked the West Gold claim, located immediately west of the Gladstone Gold Property. West Gold hosts two known gold showings with values of up to 5.0 g/t Au, along with arsenic values up to 2.68% and zinc up to 0.31%.
Northern Gold Property
The Northern Gold Property covers 1,386.079 hectares and is located immediately south of the Gladstone Gold Property. The property hosts a known gold showing with reported values of up to 6.58 g/t Au, accompanied by arsenic values up to 0.62% and lead values up to 1.0%.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Lorne Warner, P.Geo., President and Director of Bathurst Metals Corp., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The historical assay results referenced herein are derived from prior work completed by previous operators. The Company has not independently verified these historical results, and they should not be relied upon unless and until verified by Bathurst Metals through future exploration programs.
"Harold Forzley"
For investor inquiries, please contact:
Harold Forzley, Chief Executive Officer
604-783-4273
Neither 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.
About Bathurst Metals Corp.
Bathurst Metals Corp. is an exploration-stage company engaged in the acquisition, exploration, and development of mineral properties in Nunavut and British Columbia, Canada. The Company holds a 100% interest in the Turner Lake, TED, McGregor Lake, Speers Lake, Gela Lake and McAvoy Lake Projects in Nunavut and the Peerless Property a gold /silver prospect in the historic Bralorne Camp in British Columbia.
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