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January 22, 2026 TheNewswire - Bathurst Metals Corp. ("Bathurst" or the "Company") has entered into an option agreement with arm's length vendors to acquire a 100% interest in the Gladstone Gold and Northern Gold properties, located north of the Company's 100%-owned Turner LakeTED Gold Project in the Bathurst Inlet area of Nunavut, Canada. To exercise the option, the Company must pay $8,000.00 cash, incur not less than $150,000 in exploration expenditures within 24 months, and issue to the vendors an aggregate of 4,000,000 common shares and 4,000,000 transferable share purchase warrants. 1,000,000 common shares and 1,000,000 share purchase warrants will be issued upon TSXV acceptance and an additional 1,000,000 common shares and share purchase warrants each six months thereafter from the date of TSXV acceptance. 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.
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%.
Comments from Lorne M. Warner, P.Geo, President and Director of Bathurst Metals Corp. "Long before I began working for Bathurst Metals I had been studying the entire area for its metal potential, consequently I was able to have Bathurst first acquire the Turner Lake Property, later the TED, Gela Lake and McAvoy Lake Properties and more recently the West Gold Property. The area is underexplored with all the major ingredients required for hosting gold deposits. These include an Archean greenstone belt, intrusives and large regional structures. Bathurst's strength is in knowing the belt's potential, focusing on controlling what is considered strategic to the company."
Strategic Fit with Bathurst's Nunavut Exploration Program
The Gladstone Gold and Northern Gold properties represent a logical extension of Bathurst Metals' existing land position in the Turner Lake district. These properties adjoin or lie immediately adjacent to the Company's current holdings and cover known mineralized occurrences along trends relevant to ongoing and planned exploration activities. Acquiring these claims consolidates Bathurst's district-scale footprint, limits future land competition, and ensures that potential extensions of mineralization remain under Company control. This approach leverages existing geological knowledge, logistical planning, and prior investment at Turner Lake, rather than allocating capital to new or untested regions. The acquisitions are therefore well aligned with Bathurst's focused exploration strategy in Nunavut.
Recent Developments
Exploration interest in the Turner Lake area has increased, with several groups acquiring mineral claims covering known gold occurrences within the broader district. In response, Bathurst has continued to strengthen its land position through targeted staking and acquisition of adjacent ground.
Strategic Importance of the Turner Lake/TED Area
Based on current geological and regional understanding, the Turner Lake/TED area is considered strategic for the following reasons:
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The Turner Lake/TED region is a core focus of Bathurst Metals' exploration efforts.
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The area hosts numerous known gold occurrences, with limited systematic exploration completed to date.
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Nunavut represents a stable, mining-friendly jurisdiction within Canada.
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First Nation land title matters in the region have been settled.
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At current gold prices, high-quality mineral properties are becoming increasingly scarce and costly to acquire.
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While infrastructure is presently limited, recent and proposed industry and government initiatives may improve access over time.
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.
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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