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Getchell Gold Corp. (CSE: GTCH,OTC:GGLDF) (OTCQB: GGLDF) (FSE: GGA1) ("Getchell" or the "Company") is pleased to announce a strategic investment (the "Offering") from Buzbuzian Capital Corp. ("BCC" or "Buzbuzian") totaling $300,000 for the acquisition of 1,000,000 units of the Company (each, a "Unit").
Each Unit consists of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will enable BCC to purchase one additional Share at a price of $0.35 per Share for a period of 24 months following the closing date.
The strategic investment is driven by Getchell's flagship Nevada asset, the Fondaway Canyon project, which boasts a highly robust Preliminary Economic Assessment (the "PEA") highlighting a US$1 billion pre-tax net present value ("NPV") within an open-pit mining operation.
"Getchell's flagship Fondaway Canyon property features a robust US$1 billion PEA, making Buzbuzian's investment a testament to the asset's inherent value. When built, Fondaway's projected 150,000 ounces of gold per year will place it among Nevada's top 10 gold mines. Given Buzbuzian Capital's recent track record of success, we welcome their endorsement of Fondaway's scale and are excited to have them part of this strong development project," commented Bob Bass, Chairman of Getchell.
Key Highlights of the Fondaway Canyon Project:
- Substantial Valuation: A robust PEA outlining a US$1 billion pre-tax NPV.
- Top-Tier Production Profile: Projected average production when built of 150,000 ounces of gold per year over an estimated 10-year mine life.
- Significant Resource Estimate: The Mineral Resource comprises 999,000 indicated ounces of gold at 1.40 g/t and 1.812 million inferred ounces of gold at 1.24 g/t, and remains open with significant potential for expansion.
Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. The PEA is preliminary in nature, includes Inferred and Indicated Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that PEA results will be realized. Refer to the Company's news release dated September 3, 2026, for details on the PEA and Mineral Resource Estimate. The PEA is available for download on SEDAR+ and on the Company's website.
The qualified person (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) who reviewed and approved the scientific and technical information in this news release is Patrick McLaughlin, P.Geo., VP Exploration of the Company, and is non-independent.
The Company intends to use the proceeds of the Offering for exploration activities at the Fondaway Canyon project.
All securities issued under the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.
About Buzbuzian Capital Corp.
Buzbuzian Capital Corporation is a Canadian family office managing an investment portfolio of public and pre-IPO companies in the resource and technology sectors, as well as a variety of special situations. Buzbuzian Capital Corporation does not solicit, nor accept, third-party investment.
For Further Information: visit www.buzbuzian.com.
About Getchell Gold Corp.
Getchell Gold Corp. is a Nevada-focused gold and copper exploration company trading on the CSE: GTCH,OTC:GGLDF, OTCQB: GGLDF, and FSE: GGA1. The Company is primarily directing its efforts on its most advanced-stage asset, Fondaway Canyon, a past gold producer with a large Mineral Resource Estimate and a highly robust PEA outlining a US$1 billion pre-tax NPV open-pit mining operation.
For Further Information, please contact:
| Karen Mate, Corporate Communications (416) 230-6454 kmate@capitalmarketsadvisory.ca www.getchellgold.com | Bob Bass, Chairman of the Board of Directors Email: BBass@bassassociates.com |
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Offering and the terms thereof, participation in the Offering by BCC, the expected closing of the Offering, the Company's intended use of proceeds from the Offering, and the results of the PEA, including the NPV and projected production of the Fondaway Canyon project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Material assumptions include that the Offering will close as described in this news release and that the assumptions underlying the PEA, including gold prices, costs and the availability of financing and permits, will prove accurate. Material risk factors include the risk that the Offering does not close, fluctuations in gold prices, the preliminary nature of the PEA, the availability of financing to develop the Fondaway Canyon project, and permitting and regulatory risks. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that is contained in this news release, except as required by applicable securities laws.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316269
