Prime Meridian Resources Corp. Announces Purchase Agreement on New Claims in the Red Lake District of Ontario

Prime Meridian Resources Corp. (TSXV: PMR) ("PMR" or the "Company") is pleased to announce that subject to TSX Venture Exchange approvals, the Company has executed a formal purchase agreement ("Purchase Agreement") to acquire 282 mineral claims covering 5,830 hectares in the Dixie Lake area of the Red Lake Mining District of Ontario, bringing the Company's total land position in the area to 10,180 hectares. The claims are generally contiguous with PMR's existing Camping Lake Project and east of PMR's Bruce Lake Project (the figure below highlights the Company's Red Lake claims).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5386/95790_77f37fdd0416faa3_001.jpg

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5386/95790_77f37fdd0416faa3_001full.jpg

The Company will acquire a 100% interest in the new claims, with no royalties, by issuing a total of 1,000,000 common shares of the Company and paying $15,000 to the vendor, as per the following:

  • Issuing 500,000 common shares and paying $15,000 upon the receipt of TSX Venture Exchange acceptance of the Purchase Agreement; and
  • issuing 500,000 common shares on or before the 1st Anniversary of the Purchase Agreement.

The common shares will be subject to a four-month hold period pursuant to applicable securities laws.

On behalf of the Board of Directors of
Prime Meridian Resources Corp.

"Brian Leeners"

Brian Leeners, CEO & Director
604-893-8384

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95790

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Prime Meridian

Prime Meridian

Overview

Prime Meridian Resources Corp. (TSXV:PMR) is building a balanced portfolio of projects that target both cash flow generation and focused exploration to development in Mexico. Once Prime Meridian takes control of these opportunities, the company works to maximize exploration and development and operational efficiencies to provide streamlined productivity and growth as projects are put into operation. This model allows Prime Meridian to accelerate the development of its assets, generate revenue faster and ensure rapid scaling while providing continuing exploration value.

“The Red Lake gold district in Ontario hosts some of the richest gold deposits in the world and, as evidenced by the recent high-grade discovery of Great Bear Resources, the region remains a major gold exploration opportunity,” said Prime Meridian CEO Brian Leeners.

Keep reading...Show less

Investing in Opportunities for Cash Flow Generation and Major Exploration Developments.

Metal Bank

MBK Due Diligence Completed & Whiteheads Drilling Commencing

Metal Bank Limited (ASX:MBK) (‘MBK’ or ‘the Company’) announced on 10 September 2025 that it has signed a non-binding term sheet (Term Sheet) with Hastings Technology Metals Ltd (ASX:HAS) (HAS) for the acquisition of the gold assets of HAS, (subject to due diligence, binding documentation and other conditions precedent including shareholder approval) (Proposed Acquisition), and has commenced a scoping study for the Kingsley and Homestead deposits at the Livingstone Project, furthering its Western Australian focussed gold strategy to expand MBK’s WA gold portfolio and move to production.

Keep reading...Show less
John Feneck, gold bars.

John Feneck: Next Gold, Silver Price Targets, 11 Stocks I'm Bullish on Now

John Feneck, portfolio manager and consultant at Feneck Consulting, shares his outlook for gold and silver prices in 2025. His next target for gold is US$3,800 per ounce, and he still expects US$50 per ounce silver by the end of the year.

He also discusses the potential he sees in junior miners.

Keep reading...Show less
Sun Summit Minerals CEO Niel Marotta.

Sun Summit Minerals Eyes "Multimillion-Ounce" Gold Deposit at JD Project

Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is advancing toward a multimillion-ounce resource at its flagship JD gold project in BC following “fantastic” results from the first drill hole, which showed high-grade, shallow mineralization, according to CEO Niel Marotta.

“The thesis here is that, if we prove up a multimillion-ounce deposit, we really think there's 10x potential in our market cap. We're trading at about a C$40 million market cap now, which is about 10 percent of our neighbors. So that, I think, is what people ought to focus on,” he said.

In a recent announcement, Sun Summit reported that the first hole completed in 2025 returned “one of the strongest intervals of consistent and near-surface gold mineralization” drilled to date at the Creek zone. Results include 78 meters of 3.72 grams per ton gold starting at 30 meters down hole. The company plans to conduct follow-up drilling this season.

Keep reading...Show less
Angkor Resources

Angkor Resources

Keep reading...Show less

Latest Press Releases

Related News

×