Endurance Doubles The Size of The Reliance Gold Property, B.C.

Endurance Doubles The Size of The Reliance Gold Property, B.C.

Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to announce that it has acquired an option to earn a 100% ownership in the former Minto Gold Mine, Olympic and Kelvin gold prospects contained within a parcel of crown grants and mineral claims (the "Olympic Claims"). The Olympic Claims are located immediately adjoining and contiguous with the Company's previously owned Reliance Gold Property (the "Reliance Property") in southern British Columbia. The enlarged road-accessible Reliance Property, including the Olympic Claims, is located 4 kilometers ("km") east of the village of Gold Bridge, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.

Highlights of the transaction include:

  • More than doubles the size of the Reliance Property and adds a portfolio of relatively under-explored orogenic gold prospects that have not been evaluated with modern exploration methods.
  • Delivers additional excellent exploration potential without distracting from the Company's priority in advancing the Eagle Area discoveries along the Royal Shear Trend on the Reliance Property.
  • Offers the owner of the Olympic Claims the opportunity to unlock unrealized value of the Olympic Claims, to participate in potential future exploration success at the combined Reliance Property, and an option to equity fund any success at a fixed price.
  • Acquisition of 100% ownership with the option for the Company to purchase the entire retained royalty.
  • The Olympic Claims and the Reliance Property location map is attached below and on the Company website.

The Olympic Claims are owned by Avino Silver & Gold Mines Ltd. ("Avino") and are located on the north and south shores of BC Hydro's Carpenter Lake Reservoir in the Bridge River Valley, east of the Royal Shear trend and the Company's current drilling focus. The year-round road-accessible acquisition increases the size of the Reliance Property to approximately 2,475 hectares, more than doubling the mineral rights controlled by the Company.

The Olympic Claims are underlain by "epizonal" orogenic-type gold targets that include the former producing Minto Mine that has produced 17,500 ounces of gold at an average grade of 6.3 grams per tonne ("gpt") gold prior to World War II. In addition, there are eleven historic government-documented mineral occurrences on the Olympic Claims which include the Minto North, Dauntless, Kelvin and Olympic gold prospects, many of which have also been explored with small underground workings prior to World War II. These prospects are associated with regional-scale structural deformation and/or iron carbonate alteration with analogies to the recent discoveries by the Company at the Eagle and Imperial zones, but on sub-parallel regional structures.

As examples of the gold potential of the Olympic Claims, in 2005 Avino reported 14.76 gpt gold over 9.0 metres ("m") (estimated true width of 4.5 m) from chip samples in trenching on the Minto North target. At the Olympic Target, 1988 drilling reportedly intersected 8.2 gpt gold over 3.48 m. As part of the Option, the Company intends to initiate an early-stage 2022 exploration program of systematic biogeochemical and soil sampling to help prioritize targets for future work.

Under the terms of the letter agreement with Avino, the Company can earn a 100% interest in the Olympic Claims for:

  • A total cash consideration in the aggregate amount of $100,000;
  • the allotment and issuance of up to a total of 1,500,000 common shares ('Shares') of the Company; and
  • exploration expenditures in the aggregate amount of $300,000.
  • all to be incurred by December 31, 2024.

On vesting its ownership interest, the Olympic Claims will be subject to a 2% net smelter return royalty ("NSR"), of which 1% NSR can be purchased by the Company for $750,000 and the remaining balance of the NSR can be purchased for $1,000,000.

As part of the final requirement to earn its interest, the Company agreed to grant to Avino 750,000 share purchase warrants ("Warrants") by December 31, 2024 that offer Avino the option to purchase additional shares in the Company for a period of three years from the date of issuance. The exercise price of the Warrants will be set at a 25% premium to the 20-day VWAP share price at the issuance date. During the Option, if the Company is successful in defining a compliant mineral resource of at least 500,000 gold-equivalent ounces on the Olympic Claims then the Company will be obliged to pay Avino a $1,000,000 discovery bonus.

The Option agreement is subject to the TSX Venture Exchange acceptance, and any Shares or Warrants to be issued will be subject to a four-month hold period on issuance as per the policies of the TSX Venture Exchange.

Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.

Endurance Gold Corporation

Robert T. Boyd, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation www.endurancegold.com
Toll Free: (877) 624 2237, info@endurancegold.com

Neither the 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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4976/122351_926d85e9a4c69a7e_002.jpg

The Reliance Property B.C. - Location of Olympic Claims and the Original Reliance Option

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4976/122351_926d85e9a4c69a7e_002full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122351

News Provided by Newsfile via QuoteMedia

EDG:CA
The Conversation (0)
Endurance Gold

Endurance Gold

North American Focused Generator of World Class Exploration Projects

North American Focused Generator of World Class Exploration Projects Keep Reading...
Endurance Commences Drilling Program at the Reliance Gold Property, B.C.

Endurance Commences Drilling Program at the Reliance Gold Property, B.C.

Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to announce that drilling has commenced at the Reliance Gold Property (the "Property") in southern British Columbia with the first drill rig arriving on April 20. A second rig is anticipated to... Keep Reading...
Endurance Gold Announces DTC Eligibility for its Common Shares and Berlin Open Market Acceptance

Endurance Gold Announces DTC Eligibility for its Common Shares and Berlin Open Market Acceptance

Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (BE: 3EG) ("Endurance or the "Company") is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States. DTC eligibility will enable an... Keep Reading...
Endurance Gold Increases Non-Brokered Private Placement to $3 Million

Endurance Gold Increases Non-Brokered Private Placement to $3 Million

Endurance Gold Corporation (TSXV: EDG) ("Endurance or the "Company") is pleased to announce plans to increase the size of the non-brokered private placement previously announced on January 31, 2022 with about 50% participation by Evanachan Limited, a company controlled by Robert McEwen.The... Keep Reading...
Endurance Invited And Exhibiting at AME Roundup Core Shack Featuring High-Grade Drill Intersections From The Reliance Gold Project BC

Endurance Invited And Exhibiting at AME Roundup Core Shack Featuring High-Grade Drill Intersections From The Reliance Gold Project BC

Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to announce that the Company will be exhibiting, in-person and by special invitation, at the 2022 AME Roundup Conference Core Shack located at the Vancouver Convention Centre West on Monday, January 31 and Tuesday, February... Keep Reading...
Endurance Expands Eagle Zone by 85 Metres with Drill Intersections of 14.46 GPT Gold over 2.4 Metres and 5.11 GPT Gold over 5.6 Meters

Endurance Expands Eagle Zone by 85 Metres with Drill Intersections of 14.46 GPT Gold over 2.4 Metres and 5.11 GPT Gold over 5.6 Meters

Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to report further encouraging drill results from the Eagle Zone of the Reliance Gold Property (the "Property") in southern British Columbia. The road accessible property is located 4 kilometres ("km") east of the village of Gold... Keep Reading...
Total Metals (TSXV:TT)

TSX-V: TT Closes Acquisition of High Lake and West Hawk Lake from McFarlane Lake Mining and Closing of Final Tranche of Non-Brokered Private Placement

Total Metals Corp. (“Total Metals” or the “Company”) (TSX-V: TT) (FSE: O4N) is pleased to announce the closing of its acquisition of the High Lake and West Hawk Lake (the “Projects”) from McFarlane Lake Mining Corporation (“MLM”), as previously announced on September 24, 2025 (the... Keep Reading...
Map with a red pin marking Ghana, near Côte d'Ivoire and Benin.

Newmont Declares Commercial Production at Ahafo North Gold Mine

Newmont (NYSE:NEM,ASX:NEM) announced that its Ahafo North project in Afrisipakrom, Ghana, has officially entered commercial production, following the site's first gold pour last month. Located about 50 kilometers from Newmont’s existing Ahafo South operation, the Ahafo North mine is expected to... Keep Reading...
Diamond Drilling Commenced at Paranaíta Gold Project

Diamond Drilling Commenced at Paranaíta Gold Project

Visually mineralised targets being drilled to build on existing resource

Jangada Mines Plc (AIM: JAN), a Brazil focused natural resource development company, is pleased to announce that its 15-hole 1,800m diamond drilling ("DD") programme has commenced at the 7,211-hectare Paranaíta Gold Project ("Paranaíta" or the "Project") located in Brazil's historically... Keep Reading...
Lahontan Gold (TSXV:LG)

Lahontan Recieves $4,316,948 From the Exercise of Warrants and Options

Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce the receipt of Cdn $4,316,948 from the exercise of warrants and stock options during the period July 4 through October 23, 2025. Following the exercise of the warrants, stock options, and the issuance... Keep Reading...
Stack of shiny gold bars with embossed details.

Metals Focus: Gold to Average US$4,560 in 2026 on Unpredictable US Trade Policy, Potential Stagflation

Metals Focus published its annual Precious Metals Investment Focus report on Saturday (October 25).The report from the leading gold analysis firm outlines the investment options available for those interested in leveraging rising demand for precious metals such as gold and silver. It also... Keep Reading...
Blackrock Silver Drills 5.03 Metres of 750 g/t AgEq  and Reports Multiple Thick Mineralized Zones in First Assays from Eastern Expansion Drill Program at Tonopah West

Blackrock Silver Drills 5.03 Metres of 750 g/t AgEq and Reports Multiple Thick Mineralized Zones in First Assays from Eastern Expansion Drill Program at Tonopah West

The Eastern Expansion Drill Program Is Targeting Prospective Shallow Mineralization Encountered in Scout Drilling Across a 1.2 Kilometre Trend EASTERN EXPANSION PROGRAM HIGHLIGHTS: TXC25-166 cut 5.03 metres grading 750 grams per tonne (g/t) silver equivalent (AgEq) (306.8 g/t silver (Ag) & 4.06... Keep Reading...

Latest Press Releases

Related News